ISLAMABAD, Pakistan: The Minister for Planning Development and Reform Khusro Bakhtiar has said that Pakistan has the potential to increase investment to 25-30 percent of gross domestic product (GDP) and grow into a US$ two trillion economy in a couple of decades.
While addressing the launch of the Report ‘Pakistan@100’ and the Human Capital Summit organized by the World Bank in Islamabad on Monday, the said that the present government is fast tracking the transformation of social sector and human capital development to capitalize upon opportunities created through fourth industrial revolution and digitalization.
The minister said that the government’s aim is to enhance job creating ability of the economy and increasing skill set in the Country. He said that in order to achieve the goals of 12th five-year plan structural reforms are critical, adding that we have to transform the way government operates by doing necessary reforms.
Khusro Bakhtiar said that we see beyond brick and mortar and heading in the right direction and committed to delivering in our promises.
The planning minister said that less investment in the human capital has impeded sustainability of the economic growth. He said that Countries with higher investment in human capital had sustained higher economic growth for a longer period.
منصوبہ بندی، ترقی اور اصلاحات کے وفاقی وزیر خسرو بختیار کا سمٹ سے خطاب
مستقبل میں مقابلے کی صلاحیت کو بڑھانے کیلئے انسانی وسائل کو ترقی دینا ہے
معلومات پر مبنی معیشت کے فروغ کیلئے ٹاسک فورس قائم کی گئی ہے@TeamMakhdum pic.twitter.com/iZjoSe91kj— PTV News (@PTVNewsOfficial) March 18, 2019
The minister noted that spending on education has increased from 1.8 percent of GDP to 2.5 percent and on health to 0.9 percent in last one decade. He said that we also expanded the scope of cooperation with China by including socio-economic development under the China Pakistan Economic Corridor (CPEC) and are in process of remodeling poverty alleviation program to enable the recipients graduate by self-employment through skill development.
