The Medium Term Development Framework () (denoted as MTDF), is a policy measure programme of the

Government of Pakistan The Government of Pakistan () (abbreviated as GoP), constitutionally known as the Federal Government, commonly known as the Centre, is the national authority of the Islamic Republic of Pakistan, a federal republic located in South Asia, con ...

drafted by the

Ministry of Finance A ministry of finance is a ministry or other government agency in charge of government finance, fiscal policy, and financial regulation. It is headed by a finance minister, an executive or cabinet position . A ministry of finance's portfoli ...

Economic Coordination Committee The Economic Coordination Committee ( reporting name:ECC), () is a principle federal institution and a consultative forum used by the people-elected Prime Minister of Pakistan as its chairman, for concerning matters of state's economic security, ...

and the Planning Commission of Pakistan, formulated to strengthen the national economy and civil infrastructure. Drafted and launched by former

Prime minister A prime minister or chief of cabinet is the head of the cabinet and the leader of the ministers in the executive branch of government, often in a parliamentary or semi-presidential system. A prime minister is not the head of state, but r ...

Shaukat Aziz Shaukat Aziz (born 6 March 1949) is a Pakistani-born British former banker who served as the 15th prime minister of Pakistan from 28 August 2004 to 15 November 2007. When his term as Prime Minister was over, he immediately left Pakistan and se ...

in 2005, the programme was envisioned to turn the country into a major industrialized nation, to increase the speed of human development and to sustain a new economic system which aimed to reduce poverty and achieve

Millennium Development Goals In the United Nations, the Millennium Development Goals (MDGs) were eight international development goals for the year 2015 created following the Millennium Summit, following the adoption of the United Nations Millennium Declaration. These w ...

(MDGs). The programme replaced the existing, centralized economic system of Pakistan, known as

Five-Year Plans Five-year plan may refer to: Nation plans * Five-year plans of the Soviet Union, a series of nationwide centralized economic plans in the Soviet Union * Five-Year Plans of Argentina, under Peron (1946–1955) * Five-Year Plans of Bhutan, a series ...

which had been in effect since 1955. The programme emphasized principles of

macroeconomics Macroeconomics is a branch of economics that deals with the performance, structure, behavior, and decision-making of an economy as a whole. This includes regional, national, and global economies. Macroeconomists study topics such as output (econ ...

connected with the development of scientific technology and human resources, while guiding the formulation of policies in areas such as education, labor, trade, science and technology, taxation and financial management. The first set of plans were approved by Shaukat Aziz in 2005-10 and incorporated a shift towards the competitiveness through higher private-sector investment and to improve

total factor productivity In economics, total-factor productivity (TFP), also called multi-factor productivity, is usually measured as the ratio of aggregate output (e.g., GDP) to aggregate inputs. Under some simplifying assumptions about the production technology, growt ...

. The programme can be traced back to early 2001, when the economic coordination committee working under Aziz began to research the development of a ten-year programme and adopted the concept of three-year rolling plans. The recommendations were prepared in the background of various economic sanctions imposed on Pakistan in 1998, until the economy began to recover in 2001. Finally, on June 1, 2004, the programme became part of official policy on March 5, 2005.

Notes

{{Economy of Pakistan topics Economic history of Pakistan Economic planning in Pakistan Government of Shaukat Aziz