KARACHI: Pakistan Tehreek-e-Insaf (PTI) on Monday unveiled its much-anticipated manifesto, titled “Road to New Pakistan,” for the upcoming general election. It promises to create 10 million jobs, build five million houses and introduce robust tax policies, if the party triumphs at the polls.
Considered the leading contender for the premiership, PTI chief Imran Khan told the audience at a ceremony in Islamabad that the next government will have to deal with tough economic challenges due to the country’s debt, currency devaluation and failed policies.
“PTI will strengthen the labor market and create 10 million jobs over a period of five years in key sectors, including SME (small and medium enterprises), housing, ICT (information and communications technology), health, education, the green economy and tourism,” Khan said.
He vowed to introduce job-placement initiatives, supported by public-private partnerships, to create a robust labor market.
“We will make Pakistan business friendly and turn the China-Pakistan Economic Corridor (CPEC) into a game-changer by enhancing the bilateral relations between the two countries,” the PTI manifesto states. “Pakistan is not fully benefiting from CPEC due to insufficient transfer of knowledge and capabilities, lesser partnerships with local businesses and our high dependence on imports of goods and services from China. We will ensure the completion of CPEC but encourage a shift toward partnerships for project completion.”
Khan also announced plans to reform the Federal Board of Revenue that would transform it into an autonomous body, and to increase tax revenue through the development of robust tax policies, an efficient tax-administration structure, and effective enforcement mechanisms.
“We will publish names of non-compliant debtors and strongly pursue large tax evaders. We will also crack down on corrupt practices that promote tax evasion,” he added.
Pakistan is also facing a housing shortage of up to 12 million units.
“PTI will strengthen the labor market and create 10 million jobs over a period of five years in key sectors, including SME (small and medium enterprises), housing, ICT (information and communications technology), health, education, the green economy and tourism,” Khan said. (AAMIR QURESHI/AFP)
“PTI will play the role of an enabler and facilitator, but not developer, to build 5 million low-cost housing units. We will ensure the development of 1.5 to 2 million urban and 3 to 3.5 million rural housing units,” according to the manifesto, which also states: “We will improve and implement State Bank of Pakistan’s National Financial Inclusion Strategy for easier access to finance. We will have State Bank of Pakistan develop policies to increase the bank deposit base from 30 to 50 percent of GDP to encourage higher savings.”
The party’s vision for the next five years received a mixed response from Pakistan’s business community.
“With Imran Khan’s motto of bringing change at the grassroots level, Khyber Pakhtunkhwa’s government in its tenure remained focused on education, health and accountability,” said Muhammad Sohail, CEO of Topline Securities. “While notable improvements were seen in the province, there were areas where the KP government had to face criticism.”
Senior economist Dr. Shahid Hassan Siddiqui said: “If we look at PTI’s initial commitments, not all of the major promises were implemented. Some such examples include taxing all types of incomes, imposing agricultural tax, and property valuation at market rates. Based on their previous commitments, the election manifesto seems too rosy.”
Ahsan Mehanti, a senior analyst and chief executive of Arif Habib Group, said: “The PTI manifesto talks about transparency and uprooting corruption, which are both vital for foreign investment. To bring about greater economic transparency and accountability, however, PTI will have to show political maturity.”
Responding to a question about PTI’s promise to create 10 million jobs, Muffasar Ata Malik, the president of Karachi Chamber of Commerce and Industry, said: “Election manifestos of political parties remain charming but the real challenge arrives while they are implementing them. Unless basic problems such as corruption and the high cost of doing business in the country are addressed, nothing positive will happen. Jobs will only be created when commercial activities pick up pace and productivity is enhanced.”
About 119 political and religious parties are contesting the 2018 general elections on July 25, but only three — Pakistan Muslim League-Nawaz, Pakistan Peoples Party and PTI — are considered major forces.
