10 million jobs in 5 years core objective of 12th Five Year Plan: minister

Federal Minister for Planning Makhdum Khusro Bakhtyar has said that the previous government missed all targets set in 11th five year planThe Minister was talking to a group of journalists here at the Ministry on Wednesday where he said that the performance remained off-track during the plan period. The Minister said that he has reviewed the performance indicators of 11th five year plan period (2013-18) with his economic team and found that targets of the plan were not achieved, adding that credibility of the growth performance of the previous five years is also under scrutiny of the credible economists. The outgoing government sowed the seeds of fiscal indiscipline by parking deficit in the commodity, PSEs and power sector deficits, which will continue to haunt the fiscal consolidation efforts. The reckless borrowing increased the debt stock from Rs.16 trillion to around Rs.30 trillion and exerted enormous pressure on future generations, he said. Federal Minister for Planning and Statistics Makhdum Khusro Bakhtyar apprised that since coming into office, he has chaired a series of meetings to finalize various chapters of the 12th five year plan where an in-house stocktaking exercise to look into the existing resources, challenges and window of opportunities is conducted regarding sectoral policies and its alignment with overall strategy of the government. The Minister said that we are cognizant of the fact that the 12th Five Year Plan is presented in the backdrop of serious macroeconomic imbalances and a huge structural deficit. The Minister apprised about challenges to the economy such as; regaining macroeconomic stability, fiscal consolidation; long-term sustainability of the external sector; creating employment and skill development; and poverty alleviation. He stated that the growth strategy of the government is focusing upon building strength of economic fundamentals such as quality and inclusiveness of economic growth or human capital, up scaling technological capability, sustainable agriculture, social protection, strategic trade policy framework, national SME policy, financial inclusion, productivity and efficiency, and above all an investment strategy for efficient resource allocation. The Minister for Planning said that he also reviewed the targets for the 12th Five Year Plan and advised the relevant Sections to deliberate with sectoral experts to firm up these targets. Core objective of the plan is to create 10 million jobs in 5 years and enhance sustainability of the economic growth through building fundamentals. 

from The News International - National http://bit.ly/2FvTGNW