The speakers at a one-day roundtable stressed the need for a pragmatic and revolutionary policy implementation framework in terms of taxation and revenue generation to achieve economic and digital transformation for making the country resilient and sustainable.
\nThe roundtable titled, \u201cReshaping the Discourse: The Way Forward for New Government: Economy, Energy, and Digital Transformation\u201d, was organized by the Sustainable Development Policy Institute (SDPI) here on Tuesday.
\nIn his opening remarks, Dr Abid Qaiyum Suleri, SDPI Executive Director, said this session seeks to come up with a practical & pragmatic approach for the upcoming government and will focus on how the government can make policies to address issues like tax exemption, subsidy cushion, filling tax losses for economic recovery, and policy and implementation reforms.
\nDr Khaqan Najeeb, a senior public policy advisor and former aide to the finance ministry, said the policy designs should be given more space to the private sector. However, he said, it is crucial to maintain micro and macro-economic stability while making the next International Monetary Funds (IMF), program.
\nAmid all this, there are some subjects that might be shifted from the Centre to provinces, Dr Najeeb said, suggested interventions around debt restructuring profiling) of Pakistan along with a need for public sector development program (PSDP) reforms and analyze the tax expenditure to resonate with the fund.
\nWhile commenting on Pakistan\u2019s economic challenges, he said, for the IMF programe completion, it is necessary to evaluate past challenges, and strategize it to ensure its successful implementation. However, he said, the next government should focus on restructuring the recurring budget to alleviate strain on the economy and prioritize efficiency and sustainability.
\nTo address debt repayments issue, he said with a staggering debt which is in billions, the government would have to explore debt restructuring options and negotiate with IMF on terms that are manageable and sustainable for economic recovery.
\nNajy Benhassine, The World Bank country director in Pakistan, said that economic turnaround requires time and policy continuity which he added, is key to progress. The next government must commit to consistent policies, fostering long-term development, he said.
\nDr Sebastian Paust, head of development cooperation Germany stressed the need to rationalize social protection expenditures and synchronize inter-provincial taxation for stable and realistic policy measures. The new government needs to go into more transparent and realistic negotiations with IMF, he said.
\nDr Paust was of the view that learning from Germany and France, Pakistan\u2019s next government should explore regional opportunities as fostering regional peace and stability are the keys to sustained progress.
\nUmer Bhatti from All Pakistan Textile Mills Association underlined the need to diversify export-oriented products and move away from the traditional products and traditional export market. The next government must prioritize a balancing act in revenue generation especially by reducing the burden of import tariff, reliance on import tariffs from trade policy,
\nand rationalize tariffs for competitiveness besides re-evaluating import substitution for true diversification, he stated.
\nSumera Abbassi, TiE Executive Director, said: \u201cStartups drive economic growth, but Pakistan faces challenges with an unfavourable regulatory environment. The next government must prioritize a conducive ecosystem to boost foreign investors\u2019 confidence in the high-potential startup landscape.\u201d
\nThe second session of the roundtable titled: \u201cDigital Transformation Reforms Agenda and priorities for Pakistan post-2024 Election\u201d, was moderated by SDPI Joint Executive Director, Dr Vaqar Ahmed.
\nInitiating the discussion, Khurram Rahat, the Vice Chairman of P@SHA, said continuity of every endeavour is a major issue in the country\u2019s system whereas Pakistan\u2019s Information Technology sector bears great potential to rise and grow.
\nHe recommended that new government needs to ensure a robust framework for digital transformation and digital cyber security along with strict implementation of legal frameworks and open data policy to stir monetization of data with increased public access.
\nRehan Akhtar, the Chief Executive Officer of Digital Miles, said the process of transformation could not be a short-term agenda and it is high time to embrace a long-term vision for a sectoral change with IT industry being visualized as export industry that has the potential to transform the local industry that lags behind digital transformation.
\nHe recommended that small and medium enterprises (SMEs), need to be digitalized, as it must shift its counting and bills from paper and pen. The government for innovation would have to create sandboxes as there has been less time to welcome new ideas and solutions.
\nShanul Haq, the head of regulatory affairs, Telenor said that data layer was very weak and complacent in the telecommunication sector of the country. He said that the prevailing infrastructure was incompatible to meet the needs of 5G technologies. However, he said there is a huge discrepancy in terms of spectrum operations, which was available in the country, but it is being underutilized by the sector, he added.
\nHe recommended for better sector-specific taxation needs to be made prudent, with tax anomalies in terms of mandatory taxes on every telecommunication user and online monetary solutions like easypaisa as every individual regardless of its financial status was paying an advance 12.5% tax.
\nFaisal Suhail Butt, private sector specialist at Pakistan Single Window, said: \u201cPrivate sector collaboration is the key to public sector digitalization. A domestic policy on data protection is crucial, and efforts should focus on bridging the digital divide between federal and provincial governments and amongst different population groups.\u201d
\nOsman Nasir, the Founder of Aletheia Teqi, said the next government agenda should revolve around digital inclusion for secondary and tertiary cities, empower youth to capture local opportunities, reduce migration and stimulate dollar income in these cities for transformative impact.<\/p>\n","protected":false},"excerpt":{"rendered":"
The speakers at a one-day roundtable stressed the need for a pragmatic and revolutionary policy implementation framework in terms of taxation and revenue generation to achieve economic and digital transformation for making the country resilient and sustainable. The roundtable titled, \u201cReshaping the Discourse: The Way Forward for New Government: Economy, Energy, and Digital Transformation\u201d, was […]<\/p>\n","protected":false},"author":2,"featured_media":372908,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[13174,13173],"class_list":{"0":"post-382542","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-national","8":"tag-dr-abid-qaiyum-suleri","9":"tag-sdpi"},"yoast_head":"\n