TUESDAY JUNE 09: Country needs seven percent growth: minister explains unemployment challenge

ISLAMABAD: A growth rate of 7 percent is required to deal with growing unemployment and poverty in the country, Minister of Planning, Development and Reforms Ahsan Iqbal stated at a press conference here on Monday. Iqbal said that 150,000 job opportunities are required to be generated each year to effectively combat unemployment. The Minister revealed that Chinese investment under the China Pakistan Economic Corridor (CPEC) is expected to commence from fiscal year 2015-16 and would focus on power sector as well as development of infrastructure; and added that the government has also set aside funds for the government's component in CPEC in the budget.
Political stability and continuation of present policies are pre-requisites for progress and development of the country. Iqbal revealed that funds have been allocated to two LNG projects that are scheduled to be completed within two years. He pointed out that for the last 15 years transmission system has neither been maintained nor upgraded; it has the capacity to withstand only 15000-15000 MW and the incumbent government not only is committed to upgrading the transmission system, it is seeking to inject 10000 to 12000 MQW into the system. Money has been set aside in the budget for Dasu and Diamer Basha dam with an additional generation capacity of between 9000 and 9500 MW.
He further said that peace and stability is the top priority of the government and lot of efforts were made during the last two years. In consultation with all stakeholders, including political parties and security agencies, an operation was conducted in Karachi to rid the city of crimes and the government succeeded to a great extent in this regard. Further, Pakistan Armey is engaged in Zarb-e-Azb operation against militants and terrorists in tribal areas and succeeded in eliminating terrorism from the areas. The rehabilitation of Temporary Displaced Persons (TDPs) is the top priority of the people of tribal areas and a good allocation has been in the budget for this purpose.
Iqbal said that after the 18th Constitutional amendment social sector, including health, education, etc, is the responsibility of provincial governments, however to complement their efforts provincial government earmarked a huge amount of money to these sectors. He said that Rs 12.5 billion was earmarked for the current fiscal year to meet MDGs targets, which has been increased to Rs 20 billion in the budget for 2015-16. The world is now moving towards SDGs from September. In this regard a unit at the ministry of Planning and Development has been proposed in the budget to keep co-ordination with provincial governments. Tech Innovation Fund of Rs 1 billion is being proposed to facilitate research to solve country's development problems, he added.
The minister said that Prime Minister's National Health Insurance scheme is being proposed and offered to provinces to participate in it. For the current fiscal year Rs 7.5 billion was earmarked for young people's development, which is increased to Rs 20 billion in the budget 2015-16. Further, 500 scholarships have been proposed for top talented students after completion of their matriculation in science subjects. The budget of Higher Education Commission is increased from Rs 20 billion to Rs 20.5 billion for 2015-16 and likely to be revised upward.
Iqbal further said that Islamabad Airport, which has become a white elephant and a source of corruption, will be completed by 2016, while all the high schools of the federal capital would be upgraded based on computer-based learning and would be made model for all provinces. The slow growth of agriculture sector after the 18th Constitutional amendment came under discussion in the NEC meeting and concerns were shown. The Council of Common Interest (CCI) has constituted a committee in this regard which in collaboration with provincial governments will work for the promoting of this sector. The minister condemned the statement of Indian Prime Minister about his country's role in the secession of East Pakistan. The minister said that it indicates that their elders were inimical to the creation of Pakistan.