Policy Board members will support govt in financial affairs: Iqbal

ISLAMABAD: Federal Minister for Planning, Development, and Special Initiatives Ahsan Iqbal said that the Policy Board members would play a vital role in the national development process and assist the government in steering the country toward economic stability.

The minister expressed these views while chairing the first meeting of the Planning Commission's Policy Board on Friday. The meeting was attended by the Secretary of Planning, representatives from major private sector organizations, corporate leaders, and experts from various fields.

Iqbal highlighted that the Policy Board members will support the government in monitoring the financial affairs and audits of the Planning Commission.

He added that the board members will play a key role in developing strategic frameworks and preparing short, medium, and long-term plans. The federal minister stressed that the formation of the Policy Board is a major milestone, and it will help achieve sustainable development goals.

Iqbal said that the government has established the Policy Board to ensure the implementation of the 5Es Framework, the 13th Five-Year Plan, and Vision 2030. This framework prioritizes key sectors such as exports, digital development, environmental sustainability, energy, and equity. He mentioned that the experiences and recommendations of the Policy Board members will also assist in the formulation of the national budget, ensuring that the process becomes more transparent and reliable.

Iqbal urged the board members to openly share their opinions to help improve the Planning Commission’s functions. He emphasized that the inclusion of Policy Board members will transform the Planning Commission into a comprehensive think tank, further advancing Pakistan’s development process. He reiterated that the government welcomes the suggestions of private sector experts and will integrate their input into national development plans.

During the meeting, Federal Minister Iqbal said that the purpose of establishing the Policy Board is to enhance transparency and improve the economic planning process of the country with the assistance of the private sector and corporate leaders. He emphasized that the participation of the private sector will significantly improve the performance of the Planning Commission, contributing to the stabilization of Pakistan’s economy.

While concluding the meeting, Federal Minister Iqbal expressed that, given Pakistan’s current economic situation, there is an urgent need for substantial investment and an increase in exports across various sectors. He said that the government's commitment to transforming Pakistan into a trillion-dollar economy by 2035, with effective implementation of the 5Es Framework. He called upon private organizations, civil society, and experts to collaborate in driving the nation toward stability and growth.

Stakeholders and experts from the private sector expressed their views during the first Policy Board meeting and pledged their full support to the government’s initiatives.

Copyright Business Recorder, 2024