Saturday May 25, 2024

Missing dynamism

By News Desk
April 20, 2024
Missing dynamism

One of the most prominent challenges facing Pakistan is the presence of corruption and nepotism, which undermines fair competition. In many sectors, connections and bribes often hold more sway than merit and talent. This not only suppresses innovation but also perpetuates inequality and opportunities are monopolized by a few. Overcoming these challenges requires concerted efforts to strengthen institutions, enhance accountability, and promote a level playing field for all the participants. A skilled and educated workforce is also essential for driving innovation and competitiveness.

Limited access to quality education and training gives rise to underperformance. Additionally, Pakistan’s business environment is characterized by regulatory complexities and bureaucratic inefficiencies, which hinder entrepreneurship and investment. Streamlining regulation and fostering a culture of entrepreneurship are essential steps towards creating a more conducive environment for competition and economic growth.

Muhammad Senan