Stakeholders Workshop on Framework for Economic Growth of Pakistan Held at UoP

Speakers at the stakeholders workshop on “Framework for Economic Growth Pakistan launched by the Planning Commission of Pakistan“ stressed the need for evolving a more practical approach in developing the implementation of the framework while keeping in view the ground realities of the country and especially the law and order problems of Khyber Pakhtunkhwa and FATA. They said that the document presented by the Planning Commission must be re visited and be made more practical.

Participants had the consensus that economic growth is one of the major factors in boosting a country prosperity indexes and no progress can be made without increasing the long run growth rate. They showed resolve that a new approach is imperative to improve the economy of Pakistan but at the same time the ground realities must not be ignored and all the stakeholders especially people from the business community, civil society, industrialists and higher education institutions of the respective areas of the country be taken into confidence.

The dialogue was organized by the Planning Commission of Pakistan in collaboration with University of Peshawar and Governance Institute Network International (GINI) with the support of Department For International Development (DFID) at the University of Peshawar.

Vice Chancellor University of Peshawar Prof. Dr. Azmat Hayta in his welcome address said that our country has abundant natural resources which are ample to meet the country`s needs and exports but unfortunatly due to lack of proper policy frameworks these respources could not be used upto the optimum level. He emphasized the need for building more stable economic relationships with the world especially the neighboring countries to boost the country`s as well as regional economy.

The workshop was monitored by a team of panelists comprising of Eng Noman Wazir, Former President Sarhad ( KP) Chamber of Commerce and Industry, Prof. Dr. Jehanzeb Manan of IMS peshawar and Mr. Bilal Mustafa Managing Director The Bank of Khyber while Engineer Syed Imtiaz Gillani VC, UET served as the moderator.

In his video address, Deputy Chairman of the Planning Commission Dr Nadeem

ul Haque said Pakistan ‟ s growth rate has been very volatile and the long-rungrowth is continuously declining because we have forgotten economic growth as policy. “We believe that economic growth will happen through getting foreign aid and projects but in fact it could not happen and our growth rate went down to 2-3 per cent,” he said.

Citing the examples of India, Bangladesh and Sri Lanka as the grown up economies, he said Pakistan is the only country in the region where long-run growth rate is continuously declining. He warned that if the situation continues, it would further deteriorate the economy. He further said our current strategy is based on Public Sector Development Program (PSDP) and we are using public resources to build infrastructure, and doing projects and looking for financing projects. “In Planning Commission, we have realized that the PSDP cannot alone increase the growth rate and we are loosing Rs 300-400 billion per annum through PSDP.” he added.

Stressing the need for a change in growth policy, Dr Nadeem ul Haque said we

require a sustained Grand Domestic Product (GDP) growth that should be 7 per cent because two million children are annually adding to our population. He said besides building infrastructure, high rise and high ways, we should focus on better government, good governance, competitive markets, creative cities and a conducive environment for trade and entrepreneurship. We need to manage all

the sectors including old majestracy system. For example we still don ‟ t have

introduced technology to the govt institutions and running a civil structure of 19 th

century without reforming the same.

He said we need to have creative cities connected not just with highways but

connected intellectually, physically and culturally with the hub of globalization.

“We need to open our economy to further so that our people could have better

consumption,” he said.

Criticizing the old bureaucratic system, he said we need new managers to run

our cities and allow housing and construction industry to be liberated as it could

create a lot of jobs. He said we need to improve connectivity with the world trade cities as well as connect people with community and entrepreneur. We need auditorium and convention centres to call people and connect them.

Mr.Akhtar Amin
Media & Protocol Officer
University of Peshawar