The main objectives of the Prime Minister's ambitious five-year economic plan have been finalized, with an official announcement expected soon. The plan encompasses a broad range of targets, including GDP growth, export expansion, Federal Board of Revenue (FBR) benchmarks, a privatization agenda, and strict fiscal deficit controls. Additionally, it focuses on achieving a primary balance surplus, boosting the Public Sector Development Programme (PSDP), increasing investment, and implementing strategic plans for overseas and agricultural sectors. Key reforms in energy, expenditure reduction, farmers' credit lending, and FBR digitization are also integral to the plan. The five-year strategy aims to cap GDP growth at 6 percent while controlling inflation within the 7 to 8 percent range.

The fiscal deficit is targeted at 6 percent of GDP for the current fiscal year, with a planned reduction to 4.7 percent in the following year. By 2026-2027, the fiscal deficit is expected to drop to 3.6 percent, with further improvements anticipated by 2028. Export growth is a major focus, with plans to double exports to over $60 billion within five years. Sources from the PM office indicate that the government intends to increase exports by $5 to $6 billion annually. Prime Minister Shahbaz Sharif has directed the preparation of a plan in collaboration with commercial banks to enhance farmers' credit lending, with a formal announcement of the five-year economic plan expected soon.

Credit: Independent News Pakistan