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ISLAMABAD: Minister for Planning, Development and Special Initiatives Ahsan Iqbal said that a Turnaround Conference (TAC) would be held on June 28 to take input, understand, and to resolve hurdles in the economic growth in order to place the country’s economy back on track.

The conference will be held on June 28 at the Convention Centre which will be graced by Prime Minister Shehbaz Sharif as the chief guest. The prime objective of the conference is to engage all the relevant stakeholders which hold the development sector together from across the nation.

The Ministry of Planning, Development and Special Initiatives is all set to host the TAC with an objective of gathering the nation together to find solutions to the country’s current socioeconomic issues. These solutions would be aimed at short-term results; if substantial these due deliverance compact ideas can be extended on to mid and long-term objectives.

The minister said in a statement on Saturday that currently, Pakistan is facing many external and internal challenges which are further compounded by the existing commodity super-cycle and geo-political situation. As the economic growth does not offer enough opportunities for national progress, short-term measures can act as a catalyst for speeding up the growth, he said.

He said that current socioeconomic landscape of Pakistan calls for tactical solutions to address economic problems. Hence, a quick round of wider and inclusive consultations of experts belonging from diversified fields can be helpful in providing solutions to come out of this economic quagmire, he said.

‘Country’s development budget kept on decreasing in 4 years’

The minister said that the government has already taken necessary short-term actions to stabilize the economy and deal with the looming balance of payments crisis. However, the government’s focus is to ferret out the medium to long-term solutions to optimize the country’s economy to tap its full potential in line with Vision 2025, he said.

Moreover, participation of stakeholders from all walks of life is ensured including representatives of political parties, federal ministries, provincial governments, national and international private sector entrepreneurs, international development and financial institutions, academia, think tanks, independent experts, NGOs, and other parts of civil society of the country to produce result-oriented and focused solutions for bringing a turnaround in the economy of Pakistan.

Copyright Business Recorder, 2022

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Saad Jun 26, 2022 10:22am
No need of turnaround in economy please. Let economy move on the road it adopted in PTI regime which brought us best recovery from COVID-19, 6% growth in GDP, 5.5 million new jobs, 22 billion forex reserve, examplary climate change initiatives, exemplary Social Portection initiatives (using Big Data), youth development, highest industrial growth and agriculture growth, highest remittances, and many more. Things were going very well ahead. Simplest turnaround solution is to remove implanted Govt and continue with good progress from previous regime.
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