Strategic sectors to augment economic growth: PM

Prime Minister says govt to reform skills development sectors


Prime Minister Imran Khan on Thursday appreciated the overseas workers for sending more remittances through banking channels. Remittances for the past fiscal year came in much higher at 9.7 percent annual growth and totaled $21.8 billion for the year, the prime minister said in a tweet. The prime minister thanked the overseas workers for the remittances, which he said was much higher than the previous year when they grew only 2.9 percent.
Prime Minister Imran Khan says the government is focusing on strategic sectors to augment economic growth including academia, policymakers and technical experts from the education and skills development. He was talking to President of the World Economic Forum (WEF), Broge Brenda here on Thursday.
The Prime Minister apprised the visiting dignitary about Government’s reform agenda especially in the economic sector and environmental protection. He shared his Government’s political and financial commitment to reform skills development sectors in Pakistan and thanked the WEF for choosing Pakistan as a founding member of the National Accelerator initiative.
The Prime Minister expressed his confidence that the WEF’s engagement will help provide new opportunities for Pakistan’s youth and help them develop new skills to fully embrace the impact of the Fourth Industrial Revolution. He also apprised President WEF of Pakistan’s perspective on regional issues including the policy of peaceful neighborhood and vision of peace, progress and prosperity. He also announced the establishment of the National Accelerator on Closing the Skills Gap in Pakistan, in partnership with the WEF with Punjab Skills Development Fund (PSDF) serving as its national secretariat.
Borge Brende said that the launch of the National Accelerator on closing the Skills Gap is an important milestone in our relationship with Pakistan and it is just the start. He said many of Pakistan’s national priorities are the core focus of the Forum’s work. He said the Forum is ready to offer its platform to support Pakistan’s economic transformation. Borge Brende appreciated the Prime Minister for his vision and the government’s initiative towards environment protection, making it a key priority area for the first time in the history of Pakistan.
He also acknowledged and appreciated Prime Minister’s vision for peace in the region and Pakistan’s positive engagement at the international level. Brende also extended an invitation to the Prime Minister to attend 50th anniversary of WEF to be held in Davos in January next year.
Prime Minister Imran Khan has expressed his government’s commitment to provide housing to people at affordable rates. He was addressing a ceremony after laying the foundation stone of Naya Pakistan Housing Program at a site near Islamabad this afternoon. The Prime Minister said the housing units will be built on public-private partnership basis wherein the government will provide land and the private sector will construct housing units. Imran Khan said 18,500 housing units will be built on this site, of which 10,000 will be allocated to people with lower income background. He said balloting will be held to choose the eligible people keeping in view the large number of applicants. The project is expected to be completed in one and half years’ time.
The Prime Minister said the number of people availing credit from banks for constructing their houses is very limited as mortgage practice is not very common in Pakistan’s banking system.
He said the government is working on a foreclosure law to promote the culture of housing mortgage as is the practice in many countries of the world.
Imran Khan said the Naya Pakistan Housing Program will enable government servants and other people to get house at affordable installments. The Prime Minister also vowed to provide housing facility to poor people living in shanty areas and slums of the country. He said two slums areas in Islamabad have been identified to start the project. Imran Khan said the housing project will be expanded across Pakistan in phases.

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