January 2, 2020: Pakistan has undergone a challenging year where stabilization program was intensively pursued to improve economic fundamentals. An ambitious structural reform agenda (energy governance, privatization, tax administration and PSEs reforms) will supplement economic policies to rekindle economic growth and improve living standards of common man.
The government was not oblivious of challenges and tried its best to shield the marginalized segments by enhancing allocations for its flagship social protection program “Ehsas”.
The completed projects of CPEC started their contribution to the economy. The government went one step ahead with dovetailing socio-economic aspects like poverty alleviation and modernization of agriculture into CPEC.
The year 2019 has seen inaugurations of Mutan-Sukkar and Havilen-Mansehra motorways, ground-breaking of New Gwadar International Airport, Zhob-Kuchlak road project, Gwadar Power Plant and finalization of Gwadar Smart Port City Master Plan, and significant progress on the ongoing CPEC projects.
Adieu to 2019 and we welcome 2020 with firm resolution to push forward CPEC to new heights and make it the year of industrialization, agricultural modernization and socio-economic development.
Within confines of budget constraint, the government is allocating additional resources for social sector uplift of deprived areas through regional equalization, enhancing productivity by investing more in knowledge economy and education, water resources, and correcting transmission lags.
Given the demographic challenges the government is making efforts to create more value through SEZs, better social sector outcome through investment in key social sectors and an effective social protection program. Pakistan needs a better social sector landscape in 2020 to trigger growth momentum going forward and we are striving hard in this direction.