ISLAMABAD
\nThe All Pakistan Business Forum (APBF) has called for urgent and comprehensive structural reforms to restore fiscal stability, improve governance, and promote sustainable economic growth in Pakistan. The move comes after the IMF\u2019s recent governance and corruption diagnostic report, which highlighted trillions of irregularities and systemic inefficiencies across public institutions.
\nAPBF President Syed Maaz Mahmood said that Pakistan\u2019s recent economic improvements\u2014particularly in exports, small business activity, and workplace productivity\u2014have been significant. However, systemic governance gaps, inefficiencies, and financial leakages remain a major risk to sustaining growth.
\nExperts also emphasized that recent gains have been largely driven by increased participation of women in entrepreneurship and small enterprises.
\nWomen-led initiatives in technology, export-oriented manufacturing, and service sectors have strengthened resilience in local markets.
\nAnalysts argue that future reforms must actively support women entrepreneurs through access to finance, training, and regulatory facilitation.
\nSpeaking on the issue, APBF President Syed Maaz Mahmood stated that the IMF report is both a warning and an opportunity.
\n\u201cThe report clearly identifies structural weaknesses, but it also provides a roadmap for reform. Pakistan can strengthen governance, reduce leakages, and improve investor confidence if decisive action is taken,\u201d he said.
\nThe APBF Chairman Ibrahim Qureshi highlighted the urgent need to digitalize public-sector processes, including procurement, tax collection, utility billing, and budgeting systems.
\n\u201cAutomation and real-time monitoring are critical tools to enhance transparency and efficiency,\u201d noted Chairman Ibrahim Qureshi. He added that such reforms will not only cut fiscal leakages but also encourage private-sector participation and foreign investment.
\nAnother priority identified by APBF is reforming loss-making public-sector enterprises (PSEs). Inefficient PSEs consume significant state resources, undermining fiscal sustainability.
\nAnalysts recommend either privatization of chronically underperforming entities or the establishment of corporate governance frameworks that ensure professional, merit-based management.
\nLegal and regulatory reforms were also emphasized. The IMF report highlighted judicial delays and procedural bottlenecks, especially in commercial disputes, which deter both domestic and foreign investment.
\nThe APBF president proposed strengthening commercial courts, streamlining regulatory frameworks, and ensuring accountability institutions operate professionally and independently.
\nTo ensure consistency and long-term impact, APBF recommends the creation of a National Economic Governance Council, comprising government representatives, economists, private-sector experts, and regulators.
\nThe council would oversee reform implementation over a five-year horizon, ensuring that economic policies remain stable and predictable regardless of political changes.
\n\u201cPakistan has an opportunity to rebuild its governance framework, strengthen institutions, and achieve sustainable growth. With transparency, coordination, and long-term vision, the country can overcome inefficiencies and unlock its full potential,\u201d they said.
\nThe APBF concluded by urging the government to publicly commit to a clear reform roadmap with measurable milestones, engaging all major economic stakeholders\u2014industry associations, chambers of commerce, and independent experts\u2014in its development and implementation.<\/p>\n
Syed Maaz Mahmood reaffirmed APBF\u2019s commitment to supporting the government and other stakeholders in implementing structural reforms.<\/p>\n","protected":false},"excerpt":{"rendered":"
ISLAMABAD The All Pakistan Business Forum (APBF) has called for urgent and comprehensive structural reforms to restore fiscal stability, improve governance, and promote sustainable economic growth in Pakistan. The move comes after the IMF\u2019s recent governance and corruption diagnostic report, which highlighted trillions of irregularities and systemic inefficiencies across public institutions. APBF President Syed Maaz […]<\/p>\n","protected":false},"author":2,"featured_media":516387,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[],"class_list":["post-516366","post","type-post","status-publish","format-standard","has-post-thumbnail","category-business"],"yoast_head":"\n