Planning Commission finalises draft strategy to raise economic growth

ISLAMABAD: Planning Commission (PC) Saturday finalized the draft strategy “Pakistan: Framework for Economic Growth”, stressing the need to raise growth above its historical average and emphasizing that growth should be market-led and not government-led.

It is worth mentioning here that the final draft Economic Growth Strategy has put main thrust on focusing on the development of `software’ of economy to provide conducive atmosphere for `hardware’ growth.

The broad thrust of the strategy, is to focus on the “software” of economic growth that include issues of economic governance, institutions, incentives, human resources so as to provide an environment in which the “hardware” of growth-physical infrastructure-could be expanded and made more productive at every level.

The strategy argues that private sector investment could be greatly encouraged by reforming and strengthening economic governance, for example the working of institutions such as the bureaucracy, the commercial judicial system, the taxation system, and so on.

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