economic growth
\nTLTP
\nISLAMABAD
\nPakistan Businesses
\nForum (PBF) on Sunday said that the country direly needs wide-ranging structural and institutional reforms.
\nThe required reforms encompass tax administration, wider civil service, management of state-owned enterprises, energy sector, regulatory agencies, central bank as well as the regulation of the corporate sector, among other areas.
\nTalking to business community, President PBF Sahibzada Mian Usman Zulfiqar said that there seems no political will to reform police. The latest Police Reforms Committee report prepared in January 2019 is gathering dust. Police in Pakistan must be depoliticized through democratic institutional oversight. The role of police as service provider and an institution that protects citizens must be consciously pursued to change the present militarization of internal security, he added..<\/p>\n
He said Pakistan\u2019s low economic growth since 1990 is more to do with lack of institutional reforms rather than external factors. \u201cThe rot had set in somewhere before 1990, which resulted in low economic growth later.\u201d<\/p>\n
Pakistan\u2019s economy faced too many challenges in the first four decades, including wars of 1965 and 1971, but it managed to grow over 6% on an average – higher than China and India.<\/p>\n
Despite being involved in conflicts and losing East Pakistan in 1971, the country grew much faster than many leading countries. \u201cFor decades, Pakistan\u2019s economic growth was among the top 10 countries in the world and leading economic managers from around the world came to see our economic model,\u201d he added.<\/p>\n
Usman Zulfiqar said that Pakistan can still become governable and grow like India and China, but for that the country needs to implement institutional reforms to break from its past of over 25 years.<\/p>\n
\u201cI am not impressed with the current growth. I want to see Pakistan growing at least 7-8% for a sustained period to meet the challenges,\u201d he stressed.<\/p>\n
No economic system is flawless; there is mis-governance in every system in the world, \u201cWe just have to evaluate the results that we get out of any system.\u201d<\/p>\n
He said today every Indian state has its own model and each of them is engaged in continuous evaluation to make it better for the people. We are wasting our resources to an extent that we are not even able to benefit from our educated people,\u201d he added. TLTP<\/p>\n","protected":false},"excerpt":{"rendered":"
economic growth TLTP ISLAMABAD Pakistan Businesses Forum (PBF) on Sunday said that the country direly needs wide-ranging structural and institutional reforms. The required reforms encompass tax administration, wider civil service, management of state-owned enterprises, energy sector, regulatory agencies, central bank as well as the regulation of the corporate sector, among other areas. Talking to business […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[],"class_list":{"0":"post-132037","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-business"},"yoast_head":"\n