PTI government targets four key areas for economic growth of Pakistan

PTI government targets four key areas for economic growth of Pakistan

*ISLAMABAD - The federal government has identified four key areas to be targeted for the economic growth of Pakistan.*

*Small farmers, low-cost housing, digital payments and a higher share for Islamic banks are the targets of the government’s new strategy for growth.*

Access to finance is super important for economic growth that a country can sustain and that includes everyone. With this in mind, the government has unveiled a National Financial Inclusion Strategy for the next five years.

As of 2015, only 16% of Pakistan’s adult population had a bank account. The number of accounts for women was even lower at 11%. This strategy adopted by the previous government led to substantial progress, but more needs to be done. This is why the sitting government has decided to prioritize NFIS as part of its 100-days agenda for the five-year period till 2023.

A person’s ability to access finance is critical to ensure that opportunity is evenly spread in society. It is also linked to helping the poor, the finance ministry said in a document released on Wednesday. However, Pakistan’s level of financial inclusion is one of the lowest in the world, it said. The Prime Minister office will directly monitor the implementation of this plan.

The strategy will help Pakistanis make more digital payments. This includes 100% digitization of government receipts and payments. The government has set a target of 65 million active digital transaction accounts with 20 million accounts by women.