Government to introduce 5-year economic plan under supervision of British economist Stefan Dercon

A five-year economic plan for the development of Pakistan’s struggling economy has been prepared under the supervision of Belgian-British economist Stefan Dercon. Prime Minister Shehbaz Sharif is likely to launch it on August 14.

Geo News reported that the proposed economic plan has been named the Stefan Dercon plan. It contains target of 6 percent annual economic growth target by 2028.

The ambitious plan also emphasises on structural reforms to take the export target to $60 billion by 2028.

The proposed plan prioritises the promotion of private investment and the increase in exports. The successful implementation of reforms is estimated to create one million employment opportunities annually.

According to the Dercon Plan, the proposed plan’s results would be fairly visible by 2028, one year after the IMF programme ends.

“The failure of structural reforms for growth in Pakistan is not due to a lack of ideas, but a lack of political will to implement these reforms,” warns the draft report.

It also warns that Pakistan won’t get chances like this; therefore, the opportunity must not be wasted.