LAHORE: The provincial government has launched the Punjab Economic Report-2017 that focussed on the higher income through gainful employment by creating enough jobs for the rapidly growing population, reported a private media outlet.
Eminent economists termed unemployment a major challenge and barrier to the sustainable growth.
Dr Turab Hussain of the Lahore University of Management Science termed the youth bulge a most important challenge to the Punjab economy.Dr Hafeez Ahmed Pasha declared unemployment a most vulnerable area and advised the government to take steps to the effect.
The report considers the China-Pakistan Economic Corridor as a potential vent for the long-term growth of the country in general and Punjab in particular. It says the development of trade routes, energy corridors and associated businesses under CPEC are some of the low-hanging fruits that will materialise if the provincial government has a clear and well-defined economic strategy in coordination with the federal government.
Speaking on the occasion, Dr Ijaz Nabi, country director of International Growth Centre, appreciated the chief minister for providing him an opportunity in preparing the Punjab Growth Strategy-2018 and then subsequently the Punjab Economic Report-2017 in order to understand whether the province is on track to achieve its targets or not.
Finance Minister Dr Ayesha Ghaus-Pasha focused on the importance of the province in playing a crucial role in improving lives of the citizens. She reiterated the significance of evidence-based policy making and was of the view that the report would be beneficial for devising strategic development goals.
Planning and Development (P&D) Chairman Muhammad Jehanzeb Khan said the province was not only focussing on accelerating economic growth but also on achieving balanced, inclusive and sustainable growth.
