Ministry names panel to improve economic planning process

ISLAMABAD: In a major move, the Ministry of Planning and Development have constituted a Policy Board to enhance transparency and improve the economic planning process of the country with the active participation of private sector and corporate leaders.

The Policy Board, chaired by Planning Minister Ahsan Iqbal, comprises a diverse group of members from various sectors, including former federal ministers, industry leaders, academic experts and international professionals. Notable members are former caretaker minister Shahid Ashraf Tarar, Interloop Limited Chairman Musadaq Zulqarnain, University of Agriculture, Faisalabad, VC Dr Rana Iqrar and US IT expert Naveed Sherwani.

The board would provide advisory on policy formulation and strategy development, offering guidance on policies and strategies aimed at promoting mid- and long-term economic growth. Additionally, it would offer insights on national and international economic issues, reviewing macroeconomic trends and providing economic outlooks to inform policy decisions.

Chairing first meeting of the Policy Board, the planning minister emphasized the importance of this initiative in stabilising Pakistan’s economy. He highlighted that the participation of the private sector would significantly improve the Planning Commission’s performance. The board members would play a crucial role in developing strategic frameworks and preparing short-, medium- and long-term plans.

Iqbal noted that the board would ensure the implementation of the 5Es Framework, the 13th Five-Year Plan, and Vision 2030. These frameworks prioritise key sectors such as exports, digital development, environmental sustainability, energy, and equity. The experiences and recommendations of the Policy Board members would also assist in formulating the national budget, making the process more transparent and reliable.

The minister reiterated the government’s commitment to transforming Pakistan into a trillion-dollar economy by 2035 through the effective implementation of the 5Es Framework. He called upon private organisations, civil society and experts to collaborate in driving the nation toward stability and growth.