ISLAMABAD, June 8: The National Security Council was informed on Wednesday that the Medium-Term Development Framework (MTDF) 2005-10 would be implemented in next five years with an objective of generating seven million jobs for reducing unemployment from the present 7.5 per cent to 4 per cent and poverty by 30 per cent.
The meeting, held with President Gen Pervez Musharraf in the chair, reviewed measures for stabilization of the prices of items of common use, according to an official press release.
The president emphasized the need for a strict check on prices of essential commodities and for ensuring their availability to common citizens at affordable rates.
He praised the finance team for presenting what he called a balanced and people- and business -friendly budget.
He said the increase in per capita income to $730 in 2004-05 from $501 in 2000-01 was a clear indicator that poverty was gradually coming down.
Commending the GDP growth of 8.4 per cent, he said the country had achieved economic stability and there was a need to sustain it in a manner that its benefits were passed on to the common citizen at a fast pace.
He stressed on equal development of various regions. The government, he added, was striving to establish a just and sustainable economic system for reducing poverty and honouring its commitment of transferring the benefits of economic development to people.
Gen Musharraf regretted that the leader of opposition in the National Assembly and the chief minister of the NWFP had again chosen to keep away from the NSC which, he said, had come into being through an act of parliament and provided an opportunity to its members to express their points of view and benefit from discussions.
He informed the meeting about his talks with the Kashmiri leaders and termed it excellent.
Prime Minister Shaukat Aziz briefed the meeting on record allocations in the budget for the Public Sector Development Programme and incentives to agriculture, business and industry.
He said that credit for achieving the high growth rate went to continuity of policies.
The meeting noted that the current inflation was a short-term phenomenon which the government was committed to bringing down to 5 per cent in two years.
Tightening of monetary policy, deregulation of sugar industry and removal of tariffs on imports were seen as steps to control inflation.
The prime minister said that efforts made for ensuring better supply, increasing productivity, improving distribution and efficient management of 11 essential items were having a positive impact on measures taken to stabilize prices of these commodities.
The meeting was informed that the decision to allow duty-free import of livestock, Halal meat and vegetables from countries in the region had a positive impact on prices of these items.
Earlier, the participants were given a presentation on the MTDF 2005-10. The plan envisages the establishment of a just and sustainable economic system for reducing poverty and achieving millennium development goals.
The meeting was informed that during the MTDF period total investment was projected at Rs7,952 billion.
Minister for Labour Ghulam Sarwar Khan, Adviser to Prime Minister on Finance Dr Salman Shah and Deputy Chairman Planning Commission Dr Akram Shaikh attended the meeting on special invitation to brief the NSC on measures taken for stabilization of prices of items of common use and the MTDF.