Planning Commission: Body may stop providing economic targets
Looks to reform growth targets in line with projection theory.
ISLAMABAD:
Planning Commission Deputy Chairman Dr Nadeemul Haq has said that the theory of setting economic targets is outdated in most countries including the US and only projection theory is applicable in most parts of the world.
Haq while talking to a group of journalists who were insisting on the economic targets of the government said that under the projection theory, the theory of economic modelling is interconnected with national savings, remittances, economic growth of various sectors and then projection are made according to the performance of the economy. Replying to a question, he said that the proposed Public Sector Development Programme (PSDP) 2012-13 has been prepared in line with the growth strategy framework and to achieve the government’s nine point agenda to ensure inclusive growth, reducing poverty, achieving Millennium Development Goals (MDGs), minimising wastages ,ensuring balanced development, food and energy security.
Haq said the Planning Commission is engaged in rethinking the country’s growth strategy with a view to developing policy and reforming ideas for achieving sustainable growth acceleration. While continuing with the public sector investment programme, policy needs to focus more on productivity enhancement, especially in the government, deregulation to make better markets, encourage innovation and investment and deregulate cities’ space for economic and commercial growth, he added.
Published in The Express Tribune, May 15th, 2012.
Planning Commission Deputy Chairman Dr Nadeemul Haq has said that the theory of setting economic targets is outdated in most countries including the US and only projection theory is applicable in most parts of the world.
Haq while talking to a group of journalists who were insisting on the economic targets of the government said that under the projection theory, the theory of economic modelling is interconnected with national savings, remittances, economic growth of various sectors and then projection are made according to the performance of the economy. Replying to a question, he said that the proposed Public Sector Development Programme (PSDP) 2012-13 has been prepared in line with the growth strategy framework and to achieve the government’s nine point agenda to ensure inclusive growth, reducing poverty, achieving Millennium Development Goals (MDGs), minimising wastages ,ensuring balanced development, food and energy security.
Haq said the Planning Commission is engaged in rethinking the country’s growth strategy with a view to developing policy and reforming ideas for achieving sustainable growth acceleration. While continuing with the public sector investment programme, policy needs to focus more on productivity enhancement, especially in the government, deregulation to make better markets, encourage innovation and investment and deregulate cities’ space for economic and commercial growth, he added.
Published in The Express Tribune, May 15th, 2012.