Written by : Abdul Rashid Shakir arshakir.cmo@gmail.com
Improving macroeconomic indicators like lowering inflation and policy rates;
growing GDP and foreign exchange reserves; rising remittances and exports; and
shrinking twin deficits of trade and current account lead to microeconomic
stability, resulting in increasing investors’ confidence; accelerated economic
activities; surge in GDP growth rate; and improving public spending in education,
health and entertainment.
Pakistan, in the first year of PML-N led coalition government, has taken major
strides in all sectors of economy, not only shielding the country from potential perils
of impending default but ensuring its quick take off through ‘Uran Pakistan,’ an
ambitious 5Es-based roadmap of economic transformation by focuses on
improving exports, equity, energy security, environmental protection and egovernance.
Government has reduced inflation from 38% to 4%, and policy rate from 23% to
12%; has increased GDP growth rate from 0.29% to 2.38%, projected to reach 3.5%
in FY25; has improved foreign exchange reserves from $4.4 billion to $11.7 billion;
has lowered trade deficit from $27 billion to $17 billion; and will save
approximately Rs 1.7 Trillion in Government expenditures over the next 10 years
due to pension reforms (Pakistan Reforms Report 2025: Mishal Pakistan, Country
Partner Institute of the World Economic Forum, 09 February 2025). All the abovementioned initiatives along with several regulatory reforms under SIFC (Special
Investment Facilitation Council) have invoked investors’ confidence in the
country’s economic turnaround, translating into Pakistan Stock Exchange (PSX)
crossing a record of 100K points to become one of the best performing stock
markets in the world (CNN Business). The revival of CPEC Phase-II is another major
breakthrough for the establishment of SEZs (Special Economic Zones), relocation
of labor-intensive Chinese industries to Pakistan and mechanization of agriculture,
leading to the creation of a number of employment opportunities and socioeconomic development of the people.
Perfectly in sync with the economic policies of the federal government, Punjab
Government has introduced many projects for the development of infrastructure
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and welfare of its almost 128 million people, more than 65% of which are below
the age of 30 (7th Population & Housing Census, Pakistan Bureau of Statistics).
Under the visionary leadership of its vibrant Chief Minister Madam Maryam Nawaz
Sharif, Punjab is investing liberally in productive education and rewarding training
of its youth, not only in the traditional skills but also in the cutting-edge
technologies like artificial intelligence (AI), robotics, augmented and virtual
realities (AR/VR), quantum computing, green technologies (solar and wind
energy), semiconductors and new energy vehicles (EV).
Government’s schemes like Early Childhood Education (ECE); Lahore
Kindergarten School, besides plans to establish kindergarten schools in other
districts too; Chief Minister’s School Nutrition Program which was started by
providing tetra pack milk packs to more than four lakh students in 3527 schools of
Dera Ghazi Khan, Rajanpur and Muzaffargarh; launch of a special campaign to
ensure access to education for out-of-school children; introduction of spoken
English and character-building classes, besides “Theme of the Month” in schools
show Government’s commitment to develop well-rounded personalities of its
younger generation, because these initiatives will not only equip them with critical
thinking and communication skills but with the ethical values too.
Honhar Scholarships worth Rs 25 billion; prizes worth lakhs of rupees for position
holders of the education boards, besides paying all their educational expenses;
free Laptops worth Rs 10 billion, CM Skills Development Program to provide
training to students in advanced IT courses in the fields like cloud computing,
cyber security, data analytics, graphic designing, artificial intelligence, machine
learning and game development are testament to Government’s commitment
to the capacity building of its human resources to turn them into productive asset
for socio-economic development of the country.
Punjab School Education Department’s introduction of 04 new subject groups of
health sciences, agriculture, information technology (IT) and entrepreneurship for
matriculation examinations, besides the traditional science and arts streams; the
establishment of Modern EdTech schools by the Punjab Education Foundation;
and above all, the merit-based appointments of education officers are vivid
examples of Government’s sincerity to not only improve upon the quality of
education system in the province, but to provide students with expanded careeroriented options as well.
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Public School Reorganization Programme (PSRP) which would not only save Rs.40
billion but would create employment opportunities for 70,000 youth;
establishment of 5,000 new classrooms in PSRP schools, besides setting up STEM, IT
and science labs in 1,000 elementary schools of the province; instalment of solarpowered charging stations in colleges; increase in the number of students in
schools by several hundred percent by outsourcing them to well-reputed
educationists and school chains; launch of a pilot project of satellite internet in
DPS Model Town Lahore; launch of an internship programme benefiting 3,527
schools in South Punjab, besides the biggest higher education internship program
in the history of Punjab under which 7354 college teacher interns were recruited
in government colleges of the province @ Rs.50,000 per month for six months;
provision of free e-bikes to one lakh students, and buses to girls’ colleges in every
tehsil; plans to hold a school hockey league and Pakistan’s biggest “School
Olympics” in Punjab are some of the other flagship initiatives of Punjab
Government for the improvement of learning outcomes of the younger
generation.
Pakistan’s first ‘Nawaz Sharif IT City Lahore is nearing its completion. Major tech
giants of the world are ready to join the project to spur IT revolution in the country,
contributing a lot to the development of the IT industry and IT exports. During Chief
Minister Punjab’s recent visit to China in December 2024, Gobi Partners, a leading
venture capital firm in Asia, announced the launch of a $50 million Fund to boost
startup ecosystem to foster innovation and economic growth in the province.
Besides her plans to offer international scholarships for Punjab’s youth to pursue
higher education at prestigious global institutions, Punjab Chief Minister has also
announced to establish an education city in Nawaz Sharif IT City, aimed at
attracting top global universities to set up their campuses there.
Continued…
