Pakistan: Framework for Economic Growth1
The Growth Strategy is critical to Pakistan's future – in the medium term, sustainedsteady growth represents the only hope of addressing poverty and of boosting thelivelihoods of all citizens. The strategy is correct that space must be made andmaintained for private sector development and that reducing the role and improving the efficiency of government is fundamentally important. This requires deep reformrather than funding, a broad public debate and complete commitment by government.I engaged with the Pakistan Growth Strategy at several stages, commenting on papersand meeting the Deputy Chairman and his colleagues.
--- Prof. L Alan Winters, Chief Economist, DFID
This growth framework concentrates on three key aspects. First, it encouragescompetitive and inclusive markets. Second, it addresses some long-term structuralissues by recommending policies and reforms that will encourage productivity andinnovation, promote better urban management, increase connectivity and youthengagement. Third, it outlines a vital role for the government, where it performsregulatory functions to ensure a level playing field for all economic agents, provides thebasic infrastructure like water and power and national public goods—such as defence, justice, and security—that are the basic functions of a government. I have beenfortunate to be a part of the strategy formulation and look forward to supporting Planning Commission in operationalising this strategy by dialogue especially with theProvincial governments, private sector and civil society.
--- Dr. Hafiz A. Pasha, Former Finance Minister and Deputy Chairman, Planning Commission
This is a great concept paper. I hope it gets the authorisation to workout the detailed plans with the help of all the stakeholders for a sustainable and equitable economicgrowth.
--- Mr. Shaukat Tarin, Former Finance Minister
Pakistan has no choice but to move in this new direction because the traditionalgrowth model with its emphasis on public investment and government involvement ineconomic activity has not yielded the high growth rates the country needs to absorbthe expanding young labour force. Furthermore, the government faces domestic andforeign financing constraints and it simply cannot afford any longer to undertakelarge-scale capital expenditures. If adopted, the New Growth Framework has the potential to transform the Pakistan economy into one that can compete effectively with the other high-growth developing economies of the world.
--- Dr. Mohsin S. Khan, Former Director, IMF