ISLAMABAD – In a bid to drive innovation, the federal government has allocated funds in the Public Sector Development Programme (PSDP) 2024-25 for the establishment of National Economic Transformation Unit (NETU).
Ministry of Planning and Development, under the leadership of Minister Ahsan Iqbal, is proud to announce the establishment of the National Economic Transformation Unit (NETU) in PSDP budget 2024-25, said a statement issued here. The NETU will serve as a strategic body focused on facilitating economic growth, enhancing productivity, and fostering innovation. It will work in close collaboration with various stakeholders, including government agencies, private sector entities, academia, and international partners, to implement evidence-based policies and initiatives that align with Pakistan’s long-term economic goal of becoming a one trillion-dollar economy by 2035.
“The establishment of the National Economic Transformation Unit is a significant step towards reviving and transforming the role of the Ministry of Planning and Development as a development think tank and realizing our vision of a prosperous and resilient Pakistan. NETU will play a crucial role in addressing economic challenges, reviving and promoting inclusive growth, and ensuring that our development strategies are sustainable and forward-thinking. NETU will attract the best Pakistani talent and enable them to play their role in nation-building,” Minister Ahsan Iqbal said while emphasizing the importance of the NETU.
The NETU will operate within the framework of Pakistan Vision 2025 and the 5Es framework, ensuring that its initiatives are in line with national development priorities. Vision 2025 outlines the roadmap for achieving sustainable development and economic prosperity, while the 5Es framework focuses on Exports, Enterprise, Employment stimulating high, sustained, and inclusive economic growth to ensure prosperity and job creation.
The NETU will prioritize key areas such as economic diversification encouraging growth in non-traditional sectors and reducing dependency on a limited number of industries. The NETU will also establish a robust monitoring and evaluation framework to track progress and ensure accountability. This will include regular reporting on key performance indicators and outcomes to ensure transparency and effective governance.
