The Punjab Finance Minster has said that lack of proper planning is a major hurdle in the economic growth of country while there was shortage of donors and resources for Punjab.
He expressed these views while addressing a seminar on 'priorities for economic growth for Punjab' which was jointly organized by the Planning and Development Department, International Growth Centre and Consortium for Development Policy Research (CDPR) on Tuesday. He further said the planning process could be improved by utilizing modern technology and its usage could also help in effectively implementing the plans. "For this, there is a need to improve public sector capabilities and improve monitoring system, and the PTI reform agenda is focused towards this," he added.
The Minister told the seminar that the Punjab government has focused on agriculture and SME sectors in its next five-year growth strategy and reforms are initiated. He also said a portal was launched to improve ease-of-doing-business, and assistance was being provided for SME sector investments.
Punjab Finance Secretary Hamid Yaqoob Sheikh stressed the need for financial management in planning. He said in next budget they will specify development and non-development budget. "Moreover, the government departments will be given consultation and training for preparation of the annual development programme (ADP) and resource mobilization."
Punjab Planning and Development Chairman Habib ur Rehman Gillani emphasized on the government's top development priority of human development. "While infrastructure development complements growth and development, human development is a key to prosperous Punjab. The disproportionate spending on infrastructure in the past has compromised the allocation on social sectors. This has adversely impacted the lives of millions of people living in the province," he said. "At present, the government's top priority is to rationalize spending and have an equitable development model. We are launching a growth strategy that will address all these issues and help us move toward an 'equitable and inclusive' growth model," he added. According to him, they are also putting a special emphasis on youth development. They will explore all avenues, including the opportunities that CPEC offers, for public-private partnerships and employment generation.
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