ISLAMABAD, Jan 16 (APP): Oxford University Professor of Economic Policy and Consultant Stephen Dercon Thursday called on Minister for Planning, Development and Special Initiatives Professor Ahsan Iqbal to discuss ‘Uraan Pakistan,’ a five-year national economic transformation plan unveiled by the government on December 31, 2024.
He congratulated the minister and commended the efforts of his entire team for preparing a detailed strategy to address key economic challenges through the targeted framework of 5Es, a news release said.
During the meeting, Ahsan Iqbal said the plan was aimed rejuvenating Pakistan’s economy, promoting sustainable development and driving inclusive growth.
He stressed on the importance of the five critical areas that the strategy aimed to address including exports, e-Pakistan, environment and climate change, energy and infrastructure, equity and empowerment.
The minister said the country has faced many hurdles that weakened its institutions and impeded development in the past.
Expressing hope in the country’s future, he said the Uraan Pakistan program would provide short to mid-term solutions for the country’s economic stabilization and growth.
Mentioning his recent meeting with Presidents and CEOs of banks in Karachi, the minister told the British professor that he had advised banks to establish an export development window offering soft loans to small and medium enterprises (SMEs) to generate $40-60bn in exports over the next five years.
He also emphasised the crucial importance of financial sector in promoting export growth, enhancing agricultural exports, fostering industrial development, and advancing critical areas such as IT, services, mining, workforce export, the blue economy and innovation.