Socio-economic imbalances persist

ISLAMABAD: Though the country has formulated 12 socio-economic development plans since 1955, still it faces socio-economic imbalances and structural bottlenecks as the centre has failed to take provinces on board in the plan execution process. The previous caretaker government, before its departure, approved the 13th socio-economic development plan with particular focus on 15 key areas of the economy to be executed by the new government. The 13th development plan, approved by the National Economic Council (NEC), particularly targets reforms in the energy sector by shifting focus from thermal to renewable energy and seeks investment in mineral exploration and processing. Experts say Pakistan’s development plans have failed due to inconsistency of policies during every government’s tenure and ignoring the national economic agenda.