Call to improve use of resources

LAHORE

Prediction about Pakistan’s economy in 2017 is not possible as it seems it will be the election year in which the government priorities will be different, and political instability may grow, which may lead to economic instability. 

These views were expressed by the speakers at Jang Economic Session on “Economic Situation in 2017, expectations and claims”. The panellists were Sikindar M Khan, Dr Ehsan Malik, Qayyum Nizami, Khalique Arshad, and Rana Sajjad while hosted by Sikindar Lodhi. 

Sikindar M Khan said golden opportunities of growth available in Pakistan but better use of national resources is need of the hour.

Farmers and growers are adversely affected by water scarcity and the issue will increase food security and create law and order.

He said two percent GDP growth is possible by focusing on agriculture sector besides 15 to 20 percent sectoral growth. He believed electricity transmission is real issue while there is a need to focus on hydel power generation instead of thermal power.

Dr Ehsan Malik said there is a need to focus all sectors for which expansion in research is crucial. He said issues are growing due to negligence on health and education sectors. He said economy did not grow despite the impression of business friendly government while economy is affecting with non-productivity expenditures. He called for focusing on agriculture universities for taking advantages of new technologies. 

Qayyum Nizami said 2017 will be the election year in which the government priorities will different.

He suggested that the government should focus on national issues and reduce non-development expenditures. Corruption adversely affects economic progress of every country and transparent accountability is crucial to eliminate corruption. He said the government has increased debt burden by Rs 8000 billion. He called for effective taxation system. 

Khalique Arshad said a number of international institutions have hoped that Pakistan’s economy will boost due to CPEC investments. He said economy is stuck due to unavailability of energy and gas, adding cheap energy should be ensured to the industry.

Rana Sajjad said trade imbalances, production of Pakistani products below than the international standards are need to be focused.

He said decline in local investment, budget and trade deficits are affecting the economy. He called for promoting both local and foreign investments.