Economic manifesto: PPP promises to stabilise province’s war economy
Says agriculture tax will be introduced.
PPP says agriculture tax will be introduced.PHOTO: FILE
PESHAWAR:
The Pakistan Peoples Party’s (PPP) 13-page economic manifesto for the province has promised to transform Khyber-Pakhtunkhwa’s (K-P) war economy to a ‘peace economy’ by increasing trade with Afghanistan and the Central Asian republics.
The manifesto, unveiled by PPP provincial chief Anwar Saifullah Khan on Monday, states three-decades of war has substantially damaged the economy and 85% of K-P’s budget depends on federal grants.
Taking stock of K-P’s present situation, it says that military operations and insurgency will decrease the province’s GDP growth by 25% in the period 2010-2018, Additional direct costs to the province over this period will be more than Rs170 billion.
It also threw light on investors’ hesitancy, which is negatively impacting economic growth in the province of 22.2 million.
The manifesto further declared the policy of strategic depth has outlived its utility, and will be replaced with geo-economic interests. It said in the last five years, exports to Afghanistan increased from $750 million to $2.5 billion, leading to the employment of 3.5 million people across Pakistan.
Economic growth
The document stressed on introducing cost-effective techniques, updating technology and rationalising the tax structure. It also mentioned creating a heritage fund and introducing price reforms.
The manifesto promised to set up modern technical education centres which will be able to accommodate 200,000 students every year; introduce legislation for compulsory apprenticeship opportunities for technical training; and impart agricultural skills to women.
For infrastructure, mass transit schemes for Peshawar and other urban areas will be introduced, and net hydel profit proceeds will be used for small and medium enterprise.
The PPP will set up three regional hubs in central, southern and northern parts of the province. In the northern hub, comprising Hazara and Malakand, a Silicon Valley will be established.
An agriculture tax will be enforced to put an end to support-price policy.
In the financial sector, it will concentrate on increasing lending-to-deposit ratio, and increase lending to local enterprises through the Bank of Khyber.
With respect to energy, the policy statement envisages regulatory bodies to increase efficiency and power generation. It will also charge industrial and commercial consumers a lower tariff to increase productivity and introduce power distribution reforms.
Wholesale power purchasers will be allowed to purchase power from generators instead of going through the national power grid, which will relieve NDTC from debt accumulation on account of non-payment.
For health, the PPP promises availability of medicines at government hospitals as well as a health voucher scheme. It will also encourage micro-insurance providers to ensure healthcare access to low income groups.
It has aims to moderately regulate the private sector
The manifesto said it will shift budgetary resources to be spent through education vouchers which will cost government 1/3 of its current expenditures. Uniform standards for public and private schools will be enforced.
Published in The Express Tribune, April 2nd, 2013.
The Pakistan Peoples Party’s (PPP) 13-page economic manifesto for the province has promised to transform Khyber-Pakhtunkhwa’s (K-P) war economy to a ‘peace economy’ by increasing trade with Afghanistan and the Central Asian republics.
The manifesto, unveiled by PPP provincial chief Anwar Saifullah Khan on Monday, states three-decades of war has substantially damaged the economy and 85% of K-P’s budget depends on federal grants.
Taking stock of K-P’s present situation, it says that military operations and insurgency will decrease the province’s GDP growth by 25% in the period 2010-2018, Additional direct costs to the province over this period will be more than Rs170 billion.
It also threw light on investors’ hesitancy, which is negatively impacting economic growth in the province of 22.2 million.
The manifesto further declared the policy of strategic depth has outlived its utility, and will be replaced with geo-economic interests. It said in the last five years, exports to Afghanistan increased from $750 million to $2.5 billion, leading to the employment of 3.5 million people across Pakistan.
Economic growth
The document stressed on introducing cost-effective techniques, updating technology and rationalising the tax structure. It also mentioned creating a heritage fund and introducing price reforms.
The manifesto promised to set up modern technical education centres which will be able to accommodate 200,000 students every year; introduce legislation for compulsory apprenticeship opportunities for technical training; and impart agricultural skills to women.
For infrastructure, mass transit schemes for Peshawar and other urban areas will be introduced, and net hydel profit proceeds will be used for small and medium enterprise.
The PPP will set up three regional hubs in central, southern and northern parts of the province. In the northern hub, comprising Hazara and Malakand, a Silicon Valley will be established.
An agriculture tax will be enforced to put an end to support-price policy.
In the financial sector, it will concentrate on increasing lending-to-deposit ratio, and increase lending to local enterprises through the Bank of Khyber.
With respect to energy, the policy statement envisages regulatory bodies to increase efficiency and power generation. It will also charge industrial and commercial consumers a lower tariff to increase productivity and introduce power distribution reforms.
Wholesale power purchasers will be allowed to purchase power from generators instead of going through the national power grid, which will relieve NDTC from debt accumulation on account of non-payment.
For health, the PPP promises availability of medicines at government hospitals as well as a health voucher scheme. It will also encourage micro-insurance providers to ensure healthcare access to low income groups.
It has aims to moderately regulate the private sector
The manifesto said it will shift budgetary resources to be spent through education vouchers which will cost government 1/3 of its current expenditures. Uniform standards for public and private schools will be enforced.
Published in The Express Tribune, April 2nd, 2013.