ISLAMABAD: Prime Minister Shaukat Aziz Friday said South Asia has tremendous potential to move forward in a big way which needs to be exploited by ensuring peace and stability through dispute resolution and taking measures to fight poverty in the region.
Addressing the launch of Human Development Report in South Asia 2006 on "Poverty in South Asia and Challenges and Responses" by Mahboob-ul-Haq Human Development Centre here at local hotel, the Prime Minister said poverty in South Asia is still a major challenge as it harbours forty percent of the world's poor.
He said equitable distribution of macro-economic growth in Pakistan has played an important part in reducing poverty. He said poverty cannot be reduced until the equitable growth reaches all parts of the country.
He said the income of a common man has increased and at the end of next financial year per capita income will be dollars 1000.
Shaukat Aziz said that Zakat and Bait-ul-Mal are key elements of delivering those people who cannot use opportunities to improve their lives.
He said in the next budget, the government will expand and increase the role of Bait-ul-Mal so that vulnerable segment of the society can get a bigger share.
The Prime Minister said Pakistan has achieved remarkable progress in reducing poverty adding that the government is committed to improving the living standards of the entire population.
He said all stakeholders - government, private sector, civil society, development partners - have to work together in fighting poverty.
The Prime Minister said the fruits of economic growth are reaching all segments of society and all regions of the country.
He said the number of people below the poverty line has declined from 34.5% in 2001 to 23.9% in 2005 - in urban areas from 22.7% to 14.9% and in rural areas from 39.3% to 28.1%.
He said in absolute terms, 13 million people have been taken out of poverty, out of which 10.5 million belong to the rural areas.
The unemployment rate has come down from 8.3% in 2001-02 to 6.2% during 2005-06 and about 5 million new jobs were added during 2003-06, he added.
"We believe in balanced growth embracing all regions of the country and all segments of society and our model of development is not exclusive for a few but inclusive of all - rich and poor, men and women, urban and rural," he added.
The Prime Minister said economic policy is underpinned by principles of liberalization, deregulation and privatization.
However, regulatory oversight and intervention by government is equally important to remove market distortions, to protect the consumer and disadvantaged groups, and to provide a level playing field for all stakeholders.
Referring to poverty reduction strategy of the government, the Prime Minister said keeping in view social and economic policy, the government is implementing a comprehensive poverty reduction strategy.
He said the strategy is based on four pillars; accelerating economic growth and maintaining macroeconomic stability, improving governance and devolution, investing in human capital and safety nets for the poor
and the vulnerable.
The Prime Minister said sustaining a growth rate of 7% over the last 4 years and achieving 7% plus growth this year are the major achievements of the government. He said the size of the economy has doubled and Pakistan has become one of the fastest growing economies of Asia and the country has been added in Next-11 by Goldman Sachs.
Referring to record investment, both domestic and foreign, the Prime Minister said these are basis for sustainable growth.
He said investment in development has increased four time as in 1999, the development budget was 2.6% of GDP while it was 4.3% of GDP in 2006-07 and allocation of Rs. 435 billion for public sector development was highest ever in the country's history.
The Prime Minister said mega projects have been started to ensure energy, water and food security.
He said through devolution, the people have been empowered at the grassroots level. He said there has been record investment in social sectors.
Referring to improvement in social sector indicators, the Prime Minister said the ranking in Human Development Index has moved up 10 places in 4 years - from 144 in 2001 to 134 in 2004.
"We are committed to achieving the Millennium Development Goals, with substantial progress in poverty and gender related goals and targets with initiatives for youth, Internship Programme, President's Rozgar Scheme, " he added.
Regarding Pakistan's growth and development strategy, the Prime Minister said the world is looking to Pakistan as an attractive place as seven percent growth achieved in the last several years has doubled the size of the economy and the per capita income.
He said the pro-poor expenditure is increased from 4 percent of GDP during the 90s to six percent now. He said 48 percent of development programme is directly or indirectly relates to social programme. Regarding Education, the Prime Minister said it needs lot of funds.
The Prime Minister said that under the Khushal Pakistan Programme local projects can create jobs in remote areas to help the local people and are also expanding micro credit and micro finance institutions.
Regarding role of women in the development of the country, he said the government brought women in the mainstream in every sphere of life including education, Pakistan Army, Air Force and civil service.●
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