Pakistan government has announced a 10-year perspective economic plan aimed at achieving a 6.3 per cent GDP growth rate from the present 2.3 per cent amid reports that the country's trade deficit has shown an 18 per cent decline during the past two months. Finance Minister Shoukat Aziz, who has been battling to deal with serious economic crisis arising out the 37 billion dollar foreign debt, has unveiled a plan yesterday to spend a total outlay of Rs. 11.287 trillion over the next ten years. This plan marks a new beginning for the economic growth of Pakistan. It represents a home grown strategy for development and increasing self reliance, he said. According to the plan the public sector was expected to contribute Rs 2.540 trillion about 22.5 per cent of the outlay while the private sector was expected to put in Rs 8.747 trillion, which amounted to 77.5 per cent. The overall theme of the development plan was to increase the human development and improve Pakistan's economic ranking from the present 133 to 90 in the UN through a comprehensive poverty reduction and growth strategy, he said.
The plan aimed reducing the food poverty from the present 30 per cent to 15 per cent and reduce unemployment from 10.4 per cent to 6.1 per cent.
Bureau Report