ISLAMABAD, January 07, 2019: Federal Minister for Planning, Development & Reform & Statistics Division Makhdum Khusro Bakhtyar has underlined that the 12th Five Year Plan should contribute to real economic growth covering all aspects for attaining sustained economic growth.
The Minister was chairing a meeting on 12th Five Year Plan today at Islamabad. Secretary Planning Zafar Hasan, Joint Chief Economist Rai Nasir Ali Khan, Chief Macroeconomics Muhammad Zafar and review committee members attended the meeting.
The Minister appreciated the macroeconomic framework prepared by Planning Commission of Pakistan. The framework is based on consultation process involving all stakeholders including civil society, media, private sector and above all the provinces.
The minister was apprised that the Plan aims at achieving 5.8 % GDP growth on average during the Plan period 2018-23. This growth has been projected on the basis of 3.6% growth in agriculture, 6.1 % in industry and 6.8 % in services sector on average during Plan period.
In line with the Government’s vision, emphasis during the Plan period will remain on social sectors, poverty alleviation, job creation and improvement of governance for ensuring transparency and overcoming corruption. It was informed that consolidation period is expected to be over by next fiscal year and GDP growth will start picking up from the current envisaged at 4.2% to 7% during terminal year of the five year plan. The meeting was apprised that draft of the Plan is ready which will be launched after the approval from the competent forum.