ISLAMABAD: The Gilgit Baltistan Economic Report was launched on Thursday, advocating private sector-led growth, improvement in public service delivery and exploiting the potential through infrastructure investments.
The 202-page report titled `Gilgit Baltistan Economic Report-Broadening the Transformation' has been jointly prepared by the government of Gilgit- Baltistan, Asian Development Bank (ADB) and the World Bank (WB).
The report is aimed to help better understand the development process of Gilgit Baltistan and propose policy actions to help increase economic growth, reduce poverty and improve social outcomes.
The report highlights the challenges and obstacles that are hampering the economic growth of the area, however, at the other side provides hope for the prosperity if these challenges are tackled and addressed timely.
The report was launched at a ceremony that was presided over by Chief Minister Gilgit Baltistan, Syed Mehdi Shah while among others, Chief Secretary Gilgit Baltistan, Saifullah Chatha, ADB Country Director, Rune Stroem, WB Acting Country Director, Raja Rehan Arshad, CEO, Agha Khan Foundation Pakistan, Karim Ali Bhai were also present on the occasion.
Despite the fact that the growth and development face several obstacles,the progress in many areas have been described as remarkable in the report which adds that improvements will hinge on addressing some of these issues and responding effectively to attenuate adverse impacts where possible.
Comments
Comments are closed for this article.