LAHORE: Pakistan Muslim League-Nawaz (PMLN) launched it’s manifesto for the general elections 2013.
The manifesto contains the following aspects as it says Pakistan faces unprecedented challenges as the nation prepares to elect a new government.
The manifesto was launched by party Chief Nawaz Sharif.
‘Key aspects of Manifesto’
PML(N)’s leadership possesses the team, experience and credibility to restore growth and investment to Pakistan: reduce inflation: and create new jobs on a large, nationwide scale. PML(N)’s aim is to make Pakistan one of the top ten economies of the world and for this purpose will engage all stakeholders in economic decision making to achieve sustainable and inclusive economic growth through:
- Optimum utilization of the country’s physical and human resources;
- Full exploitation of the technological potential in industry and agriculture;
- Sound policies to reduce deficits in budget and balance of payments, curb inflation and reduce country’s dependence on foreign loans and assistances.
- Democratic governance to reduce corruption, tax evasion, wasteful expenditure, misuse of power.
PML(N) will give special priority to the following sub-sectors:
- Manifold increase in investment in the energy sector
- Attract foreign investment in the agriculture and livestock sectors to facilitate exports of high-value products to regional markets;
- Converting at least 50% of the remittances by overseas Pakistanis into investments.
- Kindle growth in the IT and other emerging sectors requiring skilled manpower.
- Execute large-scale infrastructure projects required for commerce & agriculture.
- Explore and abstract mineral resources with renewed vigor.
- Encourage domestic commerce by focusing on areas like competitiveness, protection, market regulation, wholesale markets, retail markets, storage and warehousing, transportation and real estate.
As part of its economic revival plan, PML(N) will achieve the following targets:
1. Budget deficit will be brought down to 4%. This will be achieved through:
- Increase in revenues. Tax to GDP ratio to increase from 9% at present to 15% by the end of 2018.
- One-third reduction in current expenditures other than salaries, allowances and pensions.
- Losses from State Enterprises currently approx. Rs. 400 billion will be reduced drastically through restructuring and privatization.
2. Inflation will be brought down to single digit in the range of 7-8% by:
- Limiting government borrowing
- Decreasing tax rates.
- Reducing energy shortages and cost of producing energy.
- Lower interest rates through effective monetary policy.
- Removing supply side bottlenecks through increased agricultural output and reduced wastages.
3. Large scale manufacturing will grow by 7-8% annually.
4. Investment-to-GDP ratio will rise to 20%.
Other initiatives for economic revival would include:
- Open up markets and encourage regional trade.
- Large investment in human capital through improving health and education.
- Further reforms and intelligent regulation in financial sector and capital markets.
- Focus on youth, women, minorities, and under-developed areas Reducing bureaucratic procedures to speed up decision-making. (PR)