Prime Minister Shehbaz Sharif will present an economic strategy that will prioritize eliminating ten-year-old economic obstacles and developing the fundamental ideas for real-time export-led development on August 14.
Over the previous two months, Stefan Dercon, a professor of economic policy at the University of Oxford, joined a task committee that the premier had formed to refine the plan. To produce a consensus document, the local team gathered the information and provided it to the professor.
According to Dawn, well-placed sources, the last meeting on the “Home-grown economic plan” draft policy took place on Saturday, and it is now prepared to be presented to the prime minister.
The sources claim that after Independence Day, a sizable number of stakeholders would be informed of the details of the economic plan.
The primary goals of the text are economic liberalization, the removal of government subsidies from all industries, and the opening up of domestic manufacturers to global competition. The goal of managing the current account deficit will not include limiting imports; rather, the emphasis will be on growing the nation’s exports.
A Planning Commission source claims that the paper under revision carries on the work of Dr. Muhammad Ahmed Zubair, the former top economist, who was employed by the PTI administration.
A source claims that in addition to addressing structural issues that impeded growth and elite capture of economic policy development, Mr. Zubair’s policy statement also addressed these issues. The program also addressed structural shortcomings that have prevented a transition toward high-value products and instead led to a concentration of exports of semi-finished and raw materials.
