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KP’s growth strategy
THE Khyber Pakhtunkhwa government has devised a strategy to push up the annual economic growth to 7.5pc within the next three years from the current rate of 4.5pc.
The Khyber Pakhtunkhwa Economic Growth Strategy 2015-18, has recently been approved by the provincial cabinet entailing long and short- term measures.
One of the objective of the growth strategy is to improve the provincial human development indicators up to the national average, for the KP economy to grow in line with the national targets set under Vision 2025.
The strategy document has identified urbanisation, trade and connectivity, agriculture, overseas export of skilled workforce, construction and mining as the key economic sectors, having the potential to grow. This growth will help eradicate poverty and open up new jobs for millions, who enter the KP labour market.
According to the official statistics, the KP has the country’s highest poverty rate of 39pc coupled with a higher unemployment rate. To provide decent jobs to the youth, the province needs an annual 3pc growth in the job creation, which can be achieved only if the overall provincial economy grows at least at 6pc annually.
Most of the overseas KP workers are mainly working in the Gulf region, but they don’t possess skills which fetch high income. The strategy suggests upgrading skill standards and quality
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