Pakistan establishes economic transformation unit to boost economy, innovation

0 Comment(s)Print E-mail Xinhua, June 21, 2024
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ISLAMABAD, June 21 (Xinhua) -- Pakistan's Ministry of Planning, Development and Special Initiatives on Friday announced the establishment of the National Economic Transformation Unit (NETU) as part of the government's efforts to promote economy, productivity, and innovation.

The new initiative aimed to drive comprehensive economic reform and sustainable development across Pakistan, serving as a strategic body focused on facilitating economic growth, enhancing productivity, and fostering innovation, the ministry said in a statement.

The NETU will work in close collaboration with various stakeholders, including government agencies, private sector entities, academia, and international partners, to implement evidence-based policies and initiatives that align with Pakistan's long-term economic goal of becoming a 1 trillion dollar economy by 2035, the statement added.

The ministry said that the key areas, including economic diversification, innovation and technology, human capital development, sustainable development, public-private partnerships, and modern infrastructure, will be prioritized under the new initiative.

Commenting on the formation of the unit, Minister for Planning, Development and Special Initiatives Ahsan Iqbal said that the economic transformation unit is a significant step towards a prosperous and resilient Pakistan.

"NETU will play a crucial role in addressing economic challenges, reviving and promoting inclusive growth, and ensuring that our development strategies are sustainable and forward-thinking. NETU will attract the best Pakistani talent and enable them to play their role in nation-building," the minister said. Enditem

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