August 15, 2014
NAVEED BUTT – BR Report
Pakistan, by 2025, will be ranked among the top 50 countries on the World Bank’s Ease of Doing Business Ranking and Diaspora investment (via remittances) in private sector will be increased from US $14 billion to US $40 billion whereas tax to GDP ratio will be increased from 9.8% to 18%.
According to key objectives of Vision 2025 which is based on seven pillars and 25 key objectives released by Ministry of Planning, Development and Reforms, Pakistan will also create at least 5 global Pakistani brands (having more than 50% sales coming from consumers outside Pakistan) and make ‘Made in Pakistan’ a symbol of quality. In the energy, water & food security sectors, it was said that by 2025, Pakistan’s energy power generation will be doubled to 42,000 megawatt and electricity access will be increased from 67% to over 90% of the population. It is further said that average cost of energy will be reduced by over 25% by improving generation mix (15%); reducing distribution losses (10%); increasing percentage of indigenous sources of power generation to over 50%; and addressing demand management by increasing usage of energy efficient appliances/ products to 80%.
The objectives of vision 2025 further said that water storage capacity will be increased to 90 days by 2025 and agriculture’s efficiency will be improved by 20% including enhancement of clean drinking water to all Pakistanis. Food insecure population will be reduced from 60% to 30% by 2025.
About achieving sustained, indigenous and inclusive growth, it was said that by 2025, Pakistan will be one of the largest 25 economies in the world, leading to Upper Middle Income country status. Poverty level will be reduced by half and annual FDI will be raised from US $600 million to over US $15 billion. Tax to GDP ratio will be increased from 9.8% to 18% by 2025. The objective of Vision 2025 with regard to modernising transportation infrastructure & greater regional connectivity said that road density will be increased from 32 km/100 km to 64 km/ 100 km and share of rail in transport will be increased from 4% to 20%. Annual exports will also be raised from US $25 billion to US $150 billion.
About developing human and social Capital, it was said that by 2025, the government intends to increase primary school enrolment and completion rate to 100% & literacy rate to 90%. Higher Education coverage will also be increased from 7% to 12 %, and number of PhD’s will be increased from 7,000 to 25,000. Primary and Secondary Gender Parity Index will be improved, and female workforce participation rate will be enhanced from 24% to 45%.
By 2025, proportion of population with access to improved sanitation will be increased from 48% to 90%. Infant mortality rate will be reduced from 74 to less than 40 (per 1000 births) and maternal mortality rate will be reduced from 276 to less than 140 (per 1000 births). It was further said about governance, institutional reform & modernisation of the public sector that Pakistan’s percentile will be enhanced in areas of political stability, violence/terrorism, and control of corruption as measured by the World Bank’s World-wide Governance Indicators.
About developing a competitive knowledge economy through value addition, the key objective of Vision 2025 said that Pakistan will join the ranks of the top 75 countries as measured by the World Economic Forum’s Global Competitiveness Report. Number of international tourist arrivals will also be increased to 2 million.