LAHORE: The Punjab Economic Report (PER) 2016 highlights realistic targets for the government to achieve, says provincial adviser on economic affairs Dr Ijaz Nabi.
“CPEC is now a reality and educational institutions like LUMS should try to document the impact it will have on the growth rate of the province,” he said while addressing a consultative session on PER 2016 organised by the Punjab Economic Research Institute, Planning & Development, here on Friday.
The session was aimed at soliciting feedback of stakeholders involved in the planning and policy-making process. Its input will be incorporated in the design of this report.
It is hoped that this report will document Punjab’s progress in achieving the vision of Punjab Growth Strategy (PGS) 2018.
Nabi also defined a number of goals LUMS should work on.
P&D Board Chairman Jehanzeb Khan highlighted the government’s commitment in achieving the PGS objectives, saying the report would serve to document what is happening on the economic front and assess what needs to be.
He said the foremost challenge faced by the P&D Department is policy prescription.
Khan appreciated efforts made by the Punjab Economic Research Institute to initiate the PED 2016 report and hoped that it would act as an impetus for all stakeholders to align their efforts towards achieving the PGS objectives.
Punjab Economic Research Institute (PERI) Director Dr Mumtaz Anwar Chaudhry highlighted the significance of this report in providing direction to the provincial economy and encouraged the participants to share their feedback.LUMS representative Usman Khan shared inception report prepared by LUMS, the consultants for this report, and underscored the strategic nature of this report.
The period of analysis for this report has been divided from 2007-13 (pre-growth strategy), and 2014 to present (the post-growth strategy period). Given this period of analysis, PER 2016 will look at key initiatives of the present government and assess how these investments have performed.
Analyzing the structure of Punjab economy, Usman Khan mentioned how there has been a structural change in the economy from agriculture to services sector but this observation needs to be taken with care because of the reclassification of some sectors.
All the participants actively participated in the session and shared their feedback and suggestions.