PM emphasises implementation

01 April 2024

Published in: Pakistan Observer

Prime Minister Shehbaz Sharif’s unveiling of a five-year plan during a cabinet meeting on Saturday signifies government’s seriousness towards addressing pressing economic challenges facing the nation. In a proactive move, he has not only outlined ambitious targets such as doubling of exports but also emphasised the crucial aspect of implementation — a factor that has historically impeded progress in Pakistan.

It is a familiar tale in our political landscape that grand plans are devised, only to languish in the quagmire of bureaucratic red tape and lack of follow-through. However, Shehbaz Sharif’s reputation as a pragmatic leader with a penchant for action suggests a departure from this pattern. The Prime Minister’s emphasis on innovation and regular progress reviews underscores his determination to turning aspirations into tangible outcomes. This hands-on approach, coupled with a focus on accountability, instils confidence that government means business and expects nothing less than diligent efforts from each ministry entrusted with specific goals.

A notable aspect of the plan is its recognition of the need to prioritise wealth creation, particularly through bolstering productivity in key sectors such as industry, IT and agriculture. These sectors not only hold the potential for generating substantial revenue but also serve as magnets for domestic and foreign investment. In this endeavour, the Special Investment Facilitation Council (SIFC) emerges as a crucial platform for removing impediments to investment. By streamlining processes and facilitating private sector participation, we can unleash latent potential of the economy and steer it towards a trajectory of sustainable growth.

The focus on export led growth and enhancing the tax to GDP ratio are the only panacea to ensure economic resilience and reduce reliance on external assistance. As government embarks on an ambitious journey, it is imperative for all stakeholders to rally behind the vision outlined in the five-year plan. Slumber is not an option and neither the PM is expected to tolerate any complacency.