PML-N to focus on interest rate cuts, employment generation
Business
A meeting chaired by Nawaz Sharif finalises economic plan
LAHORE (Dunya News/Web Desk) – Pakistan’s economy has been crippled by record-high interest rates, the PML-N has reportedly formulated a plan to bring these down, as the party remains busy in devising future plans given the fact that three-time prime minister Nawaz Sharif is confident of assuming the office for the fourth term, overcoming all the odds which at point seemed insurmountable to many.
It shouldn’t a surprise given the fact that both Nawaz and his top economic adviser Ishaq Dar champion not only low interest rates but also a strong rupee. They have been linking the persistently high inflation to the currency devaluation advocated by their rivals.
On Monday, the PML-N finalised an economic plan focusing on economic revival and arresting inflation at a meeting held in Lahore, which was also attended by Shehbaz Sharif and economic experts from different fields.
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The participants agreed on various points to increase GDP (gross domestic product) growth, ending energy crisis as well as slashing the gas and power prices.
It is reported that the package revolving around boosting economic growth also include human resources – skill development and generating employment opportunities.
At the same time, incentives have been planned for agriculture, industrial and information technology sectors by through separate and specific packages, as the PML-N wants to boost the IT exports to over $10 billion.
To tackle the climate change challenge and supply cheaper electricity, the PML-N is planning to focus on solar power for agriculture and domestic consumers to help tackle the rising power tariffs, which, in fact, has reduced consumption in the country.
As expected, infrastructure development through mega projects besides working on improving health and education services will also be a priority for PML-N.
