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Press Release

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Govt. to focus on enhancing productivity by investing more in knowledge economy, education, water resources, and correcting transmission lags: Khusro Bakhtyar

Dated : 1 November 2019

Federal Minister for Planning, Development & Reform Makhdum Khusro Bakhtyar has said that despite budget constraints, the incumbent government is allocating additional resources for socio-economic uplift of deprived areas through regional equalization programme. He stated that focus is being paid on enhancing productivity by investing more in knowledge economy, education, water resources and correcting transmission lags.

The Federal Minister was talking to visiting IMF Mission Chief led by Mr. Ernesto Ramirez Rigo who along-with a delegation called on him at Islamabad on Friday. Deputy Chairman Planning Commission Mohammad Jehanzeb Khan, Secretary Planning Zafar Hasan and other senior officials of the Ministry were also present in the meeting.

Minister thanked IMF for reinforcing need for higher public sector development spending in providing stimulus to the economic growth. The Minister highlighted contours of development budget and mentioned that focus of the development outlay is early completion of on-going projects. He said that government is under obligation under Water Policy to allocate 10% of resources under PSDP for water sector for enhancing water storage capacity. The government is trying to leverage private sector resources to complement development needs of the country.

The Minister highlighted the government’s efforts to create more value through SEZs, better social sector outcome through investment in key social sectors and an effective social protection program.

The IMF Mission Chief Mr. Ernesto Ramirez Rigo expressed his optimism over Pakistan economy’s future prospects by highlighting early signs of recovery as more machinery is being imported which in itself reflects greater confidence in investment prospects in the country. He also highlighted the increase in exports in quantum terms.