How to achieve long-term and inclusive economic growth in Pakistan


Institutions
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Categories : Economy , Politics

Pakistan is ready to produce a statesman? It is high time for this statesman to be visible in Pakistan.

“If there is not the war, you don’t get the great general; if there is not a great occasion, you don’t get a great statesman; if Lincoln had lived in a time of peace, no one would have known his name.” 

We Pakistanis are resilient nation & we will survive the current short term crisis with our Jugars  (slang) and smartness – Think for long term

Top 5 Challenges of the economy – Long Term

  • Loss-making State-Owned Enterprises (SOEs)
  • Weak external position due to insufficient export capacity
  • Low Foreign Direct Investment
  • Under-reformed energy sector
  • Low Saving & Investment

Solutions

      • Long term economic vision
      • Improving efficiency of Government
      • Reducing cost of doing business
      • Improving regulatory environment
      • Enhancing productivity and increasing investment

Results of Power Struggle among the major state actors – PAKISTANIS are being forced to tighten their belts to make up for several years of irresponsible economic management, which has left public finances in a mess & major economic reforms are needed. The deep malaise from which our society and economy suffers today is not the result of the action of one administration. It is the cumulative consequence of both the actions and inaction on the part of the governments over the last four decades

  1. Redefining the governance & Curtailing the government – maintaining the rule of law
  2. Investigation of corrupt & inefficient Government officials – Revolutionary steps with digitalization & n0 cosmetic.
  3. Controlling the rapid inflation stem in large part from  increase in petroleum prices – Ukraine war & currency devaluation
  4. Politically powerful feudal landlords are required to pay income and wealth taxes-In the past, successive Pakistani governments have failed to tax the feudal lords for fear of a backlash
  5. Closer scrutiny of company accounts – Strong & transparent SECP for the right due taxes from business community

Soft Question – Hard Answers

But the questions are who will do all the above? Who is the real stake holder excluding public? Will our lenders mange all the affairs all the time through financial levers?

I think we should start taking care of ourselves & capacitate the nation. The digitalization. knowledge economy will come after the rule of law and personal character. Openness & free media with stringent distortion control will keep us on track.

God Bless Pakistan – Pakistan Zindabad.

 

 

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