The new government is facing crucial financial problems with Pakistani currency facing a hefty depreciation against the US dollar.
The government under Prime Minister Imran Khan is striving to solve the economic issues with an aim to put less burden on common man of the financial crisis. The government is also looking for loans from friendly countries and the IMF to overcome economic woes.
The previous Pakistani government while formulating the Vision 2025 had said Pakistan’s immense potential is the reasons for the optimism that the country can emerge as an economic power if there is an efficient use of resources.
Vision 2025 is people centred and consider human resource as an asset for growth and development.
Pakistan’s 110 million people below the age of 30 are great opportunity for growth. The leading priority is to tap the latent energies and potential skills of youth, in making them effective managers of change for tomorrow.
Talking to the Islamic Republic News Agency (IRNA), former finance minister of Pakistan and senior economist Dr. Salman Shah said the Vision 2025 was the vision of last government and now we have a new government under Prime Minister Imran Khan so we have to see whether the new government is going to continue with the old vision or are they going to come up with their own vision.
“So that is something which we need to wait and see, but clearly the new government is lot more focused on jobs, housing and economic growth in the country so there would be some realignment of the vision 2025,” said.
He said reforming government is a major thing in achieving any vision as the ability to implement policies lies with government. 'For example how China-Pakistan Economic Corridor (CPEC) projects are implemented and how new institutions are going to be placed and how private sector is involved, so the blue print has to be come from the new government,' Dr. Salman Shah viewed.
There are seven pillars of Vision 2015
1. Putting People First: Developing Human and Social Capital
2. Achieving Sustained, Indigenous and Inclusive Growth
3. Governance, Institutional Reform & Modernization of the Public Sector
4. Energy, Water & Food Security
5. Private Sector-Led Growth and Entrepreneurship
6. Developing a Competitive Knowledge Economy through Value Addition
7. Modernization of Transportation Infrastructure & Greater Regional Connectivity
Vision 2025 lays down a foundation to put Pakistan on a fast track of development with the ultimate goal of transforming it to become one of top ten economies in the world by 2047, its first centenary.
By 2025, it envisions Pakistan among top 25 economies of world and an upper middle income country. But more importantly, creating a balanced platform for development by building strong social foundations without which any dream of becoming a developed country shall remain elusive.
This Vision is an initiative that was undertaken under the auspices of the Ministry of Planning, Development and Reform to produce a common national vision for country.
Vision 2025 is seen as part of a longer trajectory to take Pakistan into the top 10 global economies of the world. During the first phase, 2014-2025, the aim is to revive growth and strengthen Pakistan's developmental foundations to become a top 25 global economy.
In the second phase, this foundation can be built upon to acquire regional and global leadership in key target sectors. And finally, in the last phase, Pakistan seeks to establish itself from a low middle-income country to a higher income country and become one of the top 10 global economies in the world.
This Vision takes into consideration emerging global trends, challenges and opportunities which will have an impact on the development process.
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Islamabad, Nov 3, IRNA -- The previous Pakistani government had announced ‘Vision 2025’ aimed at creating new opportunities in the country, however, it is believed that new government in Pakistan would realign the program with more focus on jobs.
