The plan was negotiated between government, labour unions and business leaders.

According to the document seen by Bloomberg, the plan also calls for the telecommunications spectrum sale to be concluded by year-end, the simplification of mining rules and the construction of three liquefied natural gas terminals.

The plan states that government will reduce red tape to make it easier to do business and encourage investment. Businesses undertook to increase investment in industrial activities, buy more goods and services from local suppliers, increase exports, and try and avert job losses.

A presidential working committee will meet every six weeks or two months to ensure the plan is implemented.

Moneyweb