LAHORE: The Punjab Planning and Development Department has launched “the Punjab Economic Report 2017” which reveals the development of energy, health, education and infrastructure sectors in Punjab. The report also highlights the challenges and the way towards the economic growth.
Dr Ayesha was the chief guest on this occasion whereas the Provincial Minister for Planning and Development Nadeem Kamran, Minister for Environment Begum Zakya Shahnawaz, Minister for Population Mukhtar Ahmed Bhart, Minister Mines and Mineral Sher Ali, Chief Secretary Capt. Zahid Syed Senior Economist and Consultant of Hafeez Pasha, Chairman P & AMP; D Jahanzaib Khan, Secretary P& AMP; Iftikhar Ali Sahoo, Dr. Turab Hussai, Dr Ejaz Nabi, , Director PERI Dr. Mumtaz Anwar, Country Director World Bank Patchamuthu Illangovan, government officers and representatives from academia were also present on the occasion.
Addressing the ceremony, Punjab Finance Minister Dr. Ayesha Ghous Pasha said that “Punjab needs to harness opportunities and it should not be shy of challenges”. She further said that Punjab is a role model for other provinces, adding that “the Punjab Economic Report will help us to enhance our capacity in policy making and Development.”
Finance Minister Dr. Ayesha Pasha focused on the importance of the province in playing a crucial role in improving the lives of the citizens. She reiterated the significance of evidence-based policy making and was of the view that this report would be beneficial for devising strategic development goals. She explained how the province was making progress in achieving the targeted growth rate through improving the energy generation, fuel mix, and security situation of the province. She also highlighted that under the Growth Strategy framework, 2-million youth would be provided with adequate education and skills to ensure their employability.
Provincial Minister for P& Malik Nadeem Kamran, while appreciating the efforts of PERI and P& D on the completion of PER, hoped that the report would assess the current economic situation, key performance indicators and the strengths of the province and also assist the government by identifying key areas where the province needs more attention. Highlighting the Punjab government’s commitment to economic prosperity, he stressed that growth must be pro-poor therefore every effort is being made to optimally utilize the limited financial resources purely for the welfare of the underprivileged segment of the society Dr. Haeiz A. Pasha, former federal minister highlighted that Punjab was on track to achieving a growth rate of 6% by the end of the year which would be the highest growth rate in eleven years.
He said that Punjab has shown a growth rate of 5% in major crops in 2016-17, which was the highest in the last ten years. He emphasized that Punjab needs to focus on providing employment to the youth of Punjab in order to take advantage of the youth bulge in Punjab. He also highlighted the need to develop secondary cities in Punjab as part of its Urban Development strategy in order to reduce the burden on existing cities.
He acknowledged the efforts of the Punjab Economic Research Institute (PERI) that worked closely with the Lahore University of Management Sciences (LUMS) in the preparation of the report. He said the province was focusing not just on accelerating economic growth but on achieving balanced, inclusive and sustainable economic growth which would improve the well-being of the citizens of Punjab. The 7th NFC award has shifted the fiscal balance in favor of the provinces and the 18th Amendment has given constitutional rights to the provinces to focus on human development in the provinces.
