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Vision 2025 envisages boosting exports to $150b, 25m jobs

Vision 2025 envisages boosting exports to $150b, 25m jobs

ISLAMABAD: The government unveiled its Vision 2025, envisaging increase in exports volume from $25 billion to $150 billion by 2025 with special focus on the development of small and medium enterprises (SMEs) and water and power generation resources.

At the launching ceremony of Vision 2025, Minister for Planning and Development Prof Ahsan Iqbal said that to achieve the target of increase in exports o by 2025, modern infrastructure of road and rail network would be developed and competitiveness would be introduced in all sectors of economy including agriculture and industry. Vision 2025, presented by Ahsan Iqbal, stated that according to SMEDA’s 2013 survey, SMEs accounted for 14.9 million jobs (25% of total), working in 1.73 million enterprises, GDP of Rs9.4 trillion (40% of total) and export earnings of USD18.2 billion (72% of total). As per Vision 2025, the government aims to boost jobs through SMEs to 25 million, new entrepreneurial enterprises (reaching 2 million), GDP to PKR 16 trillion and exports USD 54 billion.

About the energy sector, the vision states that there will be no loadshedding in 2018 as gap in demand and supply will be plugged by that time. Moreover an addition of 25,000MW electricity will be made by 2025 to cater to the growing energy demands. It also aims to complete two major hydel power projects of Diamir Basha Dam and Dasu Dam by year 2025. Vision aims to increase water storage capacity, applicable to the needs of each of the federating units in line with defined strategic needs and international benchmarks: from currently 30 days to 45 days by 2018, and 90 days by 2025.

About education, Vision 2025 states that Pakistan ranks 113th out of 120 countries in UNESCO’s Education for All Education Development Index. And to achieve the objective of developing a knowledge-economy, the government aims to make a sizeable increase in public expenditure on education in general and on higher education in particular. The government aims to increase the budget for higher education to 1.4 per cent of GDP from the current 0.2 percent. It is also stated in the vision 2025 that the government plans to enhance its spending in the health sector to 3 percent of the GDP.

The Federal minister said under this plan food and energy security would be ensured. He also said that 10,400MW of electricity would be produced with the assistance of China to overcome the electricity crisis. He said the United States, Middle Eastern and the European countries were also helping Pakistan to cope with the energy shortage.