Election 2024: PML-N's Political Narrative
This comprehensive economic analysis highlights PML-N's accomplishments in several areas, including key milestones and positive outcomes.
Economic Achievements:
Maintained robust economic growth, reaching 5.79% in 2018.
Expanded the economy by over 50%, from Rs.22,385B to Rs.34,396B.
Reduced budget deficit from 8.2% (2012-13) to 4.6% (2015-16).
Successfully kept average inflation below 4%.
Development Unleashed:
Emerged as the 8th fastest-growing nation in exports.
Increased industrial growth from 1.2% to 5.13%.
Enhanced development spending from Rs.1.3T to Rs.3T.
Tripled BISP funding from Rs.40B to Rs.115B.
Significantly grew large-scale manufacturing (0.32% to 4.2%).
Infrastructure Investments:
Initiated power and infrastructure projects with a $223B investment.
Launched transformative CPEC projects with a $60B investment.
Already initiated projects worth $30B.
Efficiency in State-Owned Enterprises:
Set up 1,000 km of pipeline and LNG terminals promptly.
Recorded profits in OGDC and PPL from oil exploration.
Successfully privatized shares of UBL, HBL, and PPL.
Enhanced Access to Credit:
Boosted private sector credit from Rs.96B to Rs.457B.
Increased agriculture credit by 200%.
Implemented National Financial Inclusion Strategy (NFIS).
Enacted Credit Bureau and Secured Transaction Acts.
Poverty Alleviation:
Expanded BISP, aiding 5.5 million households.
Increased BISP funding from Rs.40B to Rs.115B.
Provided health coverage and monthly stipends to vulnerable groups.
Tax Reforms:
Doubled FBR revenue from Rs.1.9T to Rs.3.9T.
Raised tax to GDP ratio from 9% to 13%.
Expanded tax base, introduced asset declaration scheme.
Eliminated SRO culture, decreased individual and corporate tax rates.
CPEC as a Game Changer:
Focused CPEC on labor-intensive projects, creating jobs.
Implemented $27B worth of projects, emphasizing energy and infrastructure.
Redirected economic growth to less developed areas.
Agriculture Revival:
Expanded agriculture economy by 3.8%.
Provided Rs.341B "Kissan Package" for farmers.
Supported research-based interventions, upgraded institutes.
Technological Advancements:
Launched National Digital and Punjab IT Policies.
Extended IT export tax holiday, reduced sales tax.
Established e-governance centers and IT infrastructure.
Youth and Leadership Initiatives:
Created jobs, disbursed Rs.42B through self-employment schemes.
Supported skill development, set up technology university.
Developed labor marketplace, connected job seekers and employers.
Tourism Boost:
Increased international tourist arrivals to 1.75M.
Expanded domestic tourism to 38.3M.
Improved accessibility with motorway networks and modern transport systems.
While the PML-N, led by Nawaz Sharif, has unquestionably made great strides in economic growth, poverty reduction, tax reforms, and infrastructure development, the party must refocus its narrative toward future-oriented tactics. Past triumphs, such as sustaining a 5.79% economic growth rate, increasing revenue collection, and launching game-changing CPEC projects, are critical for establishing a solid track record. To appeal to the electorate, the PML-N must present a holistic strategy for addressing modern challenges, including as inclusive government, environmental sustainability, and social development. Furthermore, participation in a debate, as advocated by Bilawal Bhutto, would not only demonstrate transparency but would also provide a forum for reviewing and improving future-oriented policies.
The PML-N's economic narrative is characterized by robust growth and strategic development. We achieved a phenomenal 5.79% economic growth in 2018, expanding the economy by more than 50%, from Rs. 22,385B to Rs. 34,396B, while keeping inflation below 4%. Emerging as the eighth fastest-growing exporting nation, we accelerated industrial growth from 1.2% to 5.13%, attracting infrastructure investments, including game-changing CPEC projects worth $60 billion.
In terms of poverty reduction, the PML-N helped the poor by expanding the BISP program for women in extreme poverty, boosting financing from Rs. 40 billion to Rs. 115 billion. Initiatives such as the Khidmat Card initiative and integrating vulnerable groups demonstrate our commitment to holistic welfare.
PML-N tax changes were unparalleled, doubling revenue collection, increasing the tax-to-GDP ratio from 9% to 13%, and eradicating the SRO mentality. The PML-N's emphasis on CPEC has not only created jobs but also established development infrastructure and refocused economic growth in underdeveloped areas.
In agriculture, PML-N boosted sector growth by implementing a Rs. 341 billion Kissan Package and assisting small farmers through various measures. PML-N's emphasis on technology is seen in its support for the IT industry, the establishment of e-governance, and the reduction of the digital gap, all of which build a climate conducive to innovation and entrepreneurship.
Youth and leadership development has been critical in establishing job opportunities through programs such as the Chief Minister Self Employment Scheme and the Prime Minister Interest-Free Loan Scheme, as well as nurturing skills through vocational training and technological universities.
Finally, in the tourism sector, PML-N raised international visitor arrivals to 1.75 million, increased domestic tourism to 38.3 million, and stimulated demand through infrastructure improvements and events. The PML-N's economic, social, and technological initiatives have revolutionized sectors while also laying the groundwork for a progressive and affluent Pakistan.
To summarize, the PML-N's narrative for the 2024 elections is built on a track record of strong economic growth, strategic development, and extensive welfare policies. The party's accomplishments in sectors such as poverty reduction, tax reforms, CPEC infrastructure development, and agricultural and technological improvements demonstrate its dedication to overall progress. As the election approaches, the PML-N must not only celebrate its previous accomplishments but also describe a forward-thinking vision that addresses rising difficulties and outlines actionable strategies for tomorrow. Open discussions, as proposed by opponents, would not only demonstrate transparency but would also highlight the party's willingness to face public scrutiny. Finally, the PML-N hopes to present itself as a driving force behind Pakistan's long-term economic development, social well-being, and technical advancement.
Source: Link
