Economic independence linked to good governance

Jang Economic Session

LAHORE: There is a need to create harmony among the institutions to improve political system besides ensuring financial discipline and good governance to implement the dream of economic independence in 2018.

These views were expressed by the experts in Jang Economic Session on ‘how to get economic independence in 2018’. The panellists were Sikandar M Khan, Javeed Kiyani, Tayyab Ali Khan, Hussain Ahmed Sherazi and Awais Saeed Piracha while the session was hosted by Sikandar Lodhi.

Sikandar Khan said that economic issues of Pakistan could not be resolved easily but there is no disappointment about it while major reforms in the system are not expected in 2018 due to being election year.

He called for bringing about structural changes and avoiding politics on national interests besides controlling population growth. He suggested focusing on agriculture to increase per acre yield and resolve water issues on priority.

Javeed Kiyani said that CPEC is an important project but effective implantable strategy, controlled law and order and stable political credibility is required. He said there is no need to get disappointed about economy but protection of investment and investors is required. He called for increasing the trade ties with neighbouring countries with effective foreign and trade policies.

Tayyab Ali Khan said that Pakistan growth was expected from 5.2 to 5.5 percent next week as a result of improved law and order and availability of energy situation. He suggested facilities for textile sector, political stability and institutional reforms to achieve it. He said physiological independence was vital than economic independence while overall economic performance was better. He called for comprehensive reforms for debt management and trade deficit as exports were stagnant. He suggested for revisiting the free trade agreements with China, Turkey, Indonesia and other countries. Hussain Ahmed Sherazi said that threat to economic independence will persist until political instability ends while the government priorities would be different in 2018 being election year.

He believed that system could not be improved without creating harmony among institutions while international powers could increase problems if effective foreign policy would not be made. He called for governance at every level besides discouraging corruption at every level.

Awais Saeed Piracha said the economy was under threat of unproductive expenses, taxation issues and other policies matters. He said consultation with all stakeholders for economic independence was crucial while issues could be resolved in a better way by involving the public private sector in policy-making. He called for focusing on exports to create balance of trade.