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| May 26, 2005 | Thursday | Rabi-us-Sani 17, 1426 |
Punjab likely to see high GDP growth
LAHORE, May 25: The gross domestic product (GDP) of the Punjab is likely to grow at the annual rate of seven to eight per cent in medium-term framework as against a growth rate of 4.2 per annum during the 1991-2002 decade. This was stated by Punjab Finance Minister Sardar Hasnain Bahadur Dareshak while speaking as chief guest at the launching ceremony of the Pakistan Millennium Development Goals (MDGs) Report 2004 on Wednesday. The report has been jointly prepared by the Centre for Research on Poverty Reduction and Income Distribution, the Planning Commission, and the United Nation’s country team.
The minister was optimistic that the growth potential would create job opportunities for one million people every year. It would be the biggest positive factor to reduce poverty in the rural areas and entail a paradigm shift in public policy framework and resource management system.
He said poverty reduction and human development had been the major areas of the Punjab government’s Vision 2020.
He said the key focus of the development strategy had been to promote a fully literate society, improve governance, reform the fiscal and financial management system, create a more supportive environment for private sector-led development, extend social sector coverage and improve the delivery of public service at the grassroots.
He said the report presented the current status, outlined the challenges and the road map towards attaining the eight MDGs.
The minister pointed out that there was an urgent need for better convergence and strong linkage among the Pakistan’s Poverty Reduction Strategy Paper, MDGs and the overall development framework.
Effective coordination and harmonization were required, especially for monitoring and evaluation at all levels, and a lot of work has yet to be done to disseminate MDGs particularly at the district level.
Earlier, CRPRID director Dr Sajjad quoted from the report the MDGs and targets, and indicators for Pakistan.
He also explained that the Pakistan’s MDGs report “flows out of the Millennium Declaration adopted by 189 states in September last year. It sets forth key inter-connected and mutually reinforcing development goals as the global agenda for development in the 21st century.”
Provincial education, health and finance ministers, social welfare secretaries, nazims of Lahore and other districts also attended the ceremony.
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