Policy focus should be more on doubling the size of documented economy to over $1 trillion
INP
LAHORE
The real task of the government is to eliminate parallel economy which is equal to the documented economy of around $315 billion and the policy focus should be more on doubling the size of documented economy to over $1 trillion.
These views were expressed by the All Pakistan Business Forum Patron In-chief and Pakistan Freedom Movement Chairman Haroon Khawaja during an interaction session on ‘Current economic challenges and its way out & solutions’ with the National Board of APBF.
The interaction session was held at the Iftar reception, which was also attended by the APBF Chairman Ibrahim Qureshi, President Syed Maaz Mahmood and general secretary Khurram Niaz.
Haroon Khawaja called for undertaking structural reforms of bureaucracy to make it efficient and responsive to the needs of time, as just good policies have little impact unless the institutions implementing them are effective and efficient.
He said our civil services system did not adapt to the changed circumstances, remaining frozen and unresponsive to the people’s needs and aspirations.
He said that the bureaucratic set up in Pakistan is an extension of the legacy of the Indian Civil Service, whose guiding principle was domination or exercise of authority and not service or performance of duty.
Replying to a query, the APBF visionary leader, who is also distinguished economist, observed that Pakistan’s narrow revenue base is fast becoming a monumental challenge as all successive governments have failed to increase both tax and non-tax revenue. As a result, the economy continues to suffer on all fronts.
