Framework of Economic Growth, Pakistan

Productivity and Innovation

From the past few years, the contribution of productivity in the growth of Pakistan’s GDP has been less than impressive. Agriculture, Construction and Commerce sector are specifically lowest productive sectors. To fight against our low growth rate, it is really important to take possible steps to move our productivity and efficiency towards high levels. The talented members of Pakistani diaspora must be utilized to spur innovation and development.

Vibrant and Competitive Markets

We have been facing poor markets from decades; these markets have been causing a great damage to our economy. About 30% to 40% of agricultural production is wasted due to inefficient farm-to-market channels. There is an urgent need to promote business in Pakistan, our countries stand on 85th position among 183 countries in the ease of doing business. Easy taxation rules, establishment of new dry ports, less intrusive laws will help to generate vibrant and competitive markets.

Creative Cities

The UN estimates that the urban population of Pakistan will increase to 100 million by 2020. Reforms need to be initiated in cities that will create an enviornment conducive to positive economic and social activity. Efficient management of cities will allow for creative and vibrant cities, that will effectively lead to higher economic productivity. Our cities need to be transformed into hubs of commerce to meet the requirments of the growing population at hand.

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Towards New Growth Framework

An unintended consequence of our policies has been the stifling of internal markets, cities and communities, which play a critical role in fostering productivity, innovation and entrepreneurship and ultimately promote growth, prosperity and development. The Planning Commission has been involved in the formulation of Perspective, Medium-term and Annual Plans based on savings-driven approach, where growth rates are arbitrarily set and incremental capital (investment) to output ratios are used to generate investment requirements in key sectors of the economy. Public investment across sectors is allocated according to the planner’s priority and it is assumed that public sector development programme (PSDP) will crowd-out private investment. Never has there been a more pressing need in Pakistan’s history to search for a new model, however at the outset it should be said that if there has to be a new development framework, it should by all means take account of the damages caused by recent flash floods, security and governance issues currently facing the country. Read More

Latest Blog

New growth strategy offers captivating vision for Pakistan

12/05/2011

However farfetched the new growth strategy, produced by the Planning Commission, may seem to traditionalists there is no denying the captivating vision it projects for our cities.

Nevertheless, while the whole world is moving towards urbanisation, here in Pakistan, we are rapidly ruralising the few urban centres we have. Why? Because we are too scared to move away from the status quo. We are too scared to think outside the box. Read More

Latest News

Seminar on Business & the Middle Class in Pakistan,
30th November 2011
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Growth Seminar Series in Support of DFID,
Peshawar Workshop,
6th October 2011
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Growth Seminar Series in Support of DFID,
Abbotabad-Hairpur Community Outreach Workshop,
COMSATS Institute of Information Technology (CIIT) Abbottabad, 4th October 2011
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