The Thirteenth Five-Year Development Plan has received preliminary approval from the National Economic Council.
Today’s Council meeting, presided over by Prime Minister Shehbaz Sharif, took place in Islamabad.
The plan’s objectives were reported to the council, and they include developing every region—particularly the underdeveloped ones—promoting exports and small and medium-sized businesses, reducing poverty and promoting social protection, developing the knowledge economy, building human resource capacity, and developing a plan to deal with the effects of climate change.
The Ministry of Planning was instructed by the National Economic Council to submit a detailed action plan to the provinces in recognition of their constructive economic contributions and for their encouragement of exports in a range of industries.
It was determined that the provinces would participate in the consultation process aimed at achieving the desired rate of economic growth, with a focus on key industries like agriculture as a starting point.
The meeting was advised that the following factors will guarantee economic development over the next five years: export-oriented manufacturing, world-class innovation in the fields of agriculture, artificial intelligence, and information technology, efficient use of water resources, sustainable and renewable energy production, the advancement of women and youth, and the early start of the CPEC’s second phase.
The macroeconomic framework, the targets for economic growth, and the release of the 2024–25 year plan were all accepted by the council.
It was also briefed about the national goals for the recovery of the economy and the development of the country and the measures to achieve them.
The Council was told that CPEC, international investment projects and other ongoing projects that are near to complete, will be given priority in the upcoming development budget.
Speaking on the occasion, Prime Minister Shehbaz Sharif said the government will ensure best utilization of available resources for economic revival, welfare of masses and development of the country.
The Prime Minister said the Federation will ensure consultations with the provinces and other stakeholders in all key matters and consensus will be developed for economic revival in the country.
