Approach paper of 10th five-year plan says country lost around $35bn due to destruction of infrastructure and output losses since 2002-03
ISLAMABAD: The Tenth Five Year Plan (2010-2015) has outlined the importance to come up with the exact cost of ongoing fight against militancy, terrorism and extremism, stating that the plan will lay solid foundation for just and equitable development, which will be best way of defeating the obstructionist forces.
The approach paper of the tenth five-year plan, which will be tabled before the National Economic Council (NEC) on Thursday for formal approval in its meeting with Prime Minister Syed Yousuf Raza Gilani in the chair, states that Pakistan lost around $35 billion due to the destruction of infrastructure and output losses since 2002-03 after becoming part of the ongoing war against terrorism.
The NWFP and FATA have been most adversely affected. The government, for the first time after assuming the reins of power, is going to make a promise with the masses through the approach paper for the tenth five-year plan that it will bring fundamental changes in growth and development path which was followed in the recent past during the Musharraf regime.
“Given this scenario, it is not surprising that the country is being described as a case of economic growth without real economic development,” the approach paper states, a copy of which is available with The News. The NEC will approve the exact size of development outlay and macroeconomic targets for the next budget 2009-10. The plan will also devise a strategy about sustainability of external debt in which efforts will be made to adhere to limits envisaged under the Fiscal Responsibility and Debt Limitation Act 2005.
The plan also spells out importance for placing an effective implementation, monitoring and evaluation mechanism. This has been the proverbial Achilles’ heel of past development plans. In a period of global and domestic uncertainty, this will pose even a greater challenge. An evaluation and monitoring system of selected ongoing development projects has been set up in the Planning Commission (PC). Similar capacity needs to be strengthened or built in sectoral ministries at the federal and provincial levels.
The paper is being issued at a time when national imperatives and global developments provide compelling reasons to make fundamental changes to growth and development path. “Our past strategies have delivered spurts of high economic growth. Unfortunately these have not been sustained and only led to boom-bust cycle” it states. In most cases, these spurts have been ignited by favorable international developments and increase in foreign assistance.
The paper says: “This is because growth has been consumption led and import dependent, and not driven by increasing investment and exports.” More importantly, it states that this growth has not met “our people’s expectations” and there is increasing disillusionment with the development process.
It says progress in human and social indicators has been disappointing, poverty level remains high, job opportunities that may meet citizens are lacking and “we have witnessed glaring income inequalities appearing in recent years.”
This situation must be rectified urgently as the plan is to play a pivotal role in bringing about a fundamental change in development paradigm. In this new paradigm, ordinary people, especially those in less developed provinces and regions, must be at the center of the development process and have ownership in the economic development of the country.
ISLAMABAD: The Tenth Five Year Plan (2010-2015) has outlined the importance to come up with the exact cost of ongoing fight against militancy, terrorism and extremism, stating that the plan will lay solid foundation for just and equitable development, which will be best way of defeating the obstructionist forces.
The approach paper of the tenth five-year plan, which will be tabled before the National Economic Council (NEC) on Thursday for formal approval in its meeting with Prime Minister Syed Yousuf Raza Gilani in the chair, states that Pakistan lost around $35 billion due to the destruction of infrastructure and output losses since 2002-03 after becoming part of the ongoing war against terrorism.
The NWFP and FATA have been most adversely affected. The government, for the first time after assuming the reins of power, is going to make a promise with the masses through the approach paper for the tenth five-year plan that it will bring fundamental changes in growth and development path which was followed in the recent past during the Musharraf regime.
“Given this scenario, it is not surprising that the country is being described as a case of economic growth without real economic development,” the approach paper states, a copy of which is available with The News. The NEC will approve the exact size of development outlay and macroeconomic targets for the next budget 2009-10. The plan will also devise a strategy about sustainability of external debt in which efforts will be made to adhere to limits envisaged under the Fiscal Responsibility and Debt Limitation Act 2005.
The plan also spells out importance for placing an effective implementation, monitoring and evaluation mechanism. This has been the proverbial Achilles’ heel of past development plans. In a period of global and domestic uncertainty, this will pose even a greater challenge. An evaluation and monitoring system of selected ongoing development projects has been set up in the Planning Commission (PC). Similar capacity needs to be strengthened or built in sectoral ministries at the federal and provincial levels.
The paper is being issued at a time when national imperatives and global developments provide compelling reasons to make fundamental changes to growth and development path. “Our past strategies have delivered spurts of high economic growth. Unfortunately these have not been sustained and only led to boom-bust cycle” it states. In most cases, these spurts have been ignited by favorable international developments and increase in foreign assistance.
The paper says: “This is because growth has been consumption led and import dependent, and not driven by increasing investment and exports.” More importantly, it states that this growth has not met “our people’s expectations” and there is increasing disillusionment with the development process.
It says progress in human and social indicators has been disappointing, poverty level remains high, job opportunities that may meet citizens are lacking and “we have witnessed glaring income inequalities appearing in recent years.”
This situation must be rectified urgently as the plan is to play a pivotal role in bringing about a fundamental change in development paradigm. In this new paradigm, ordinary people, especially those in less developed provinces and regions, must be at the center of the development process and have ownership in the economic development of the country.
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