Economic Growth Framework

HYDERABAD: Reforms in bureaucracy, a new approach, patriotism and vibrant and competitive markets are necessary to increase growth rate so that the economy could be put on track of development.

This was a consensus developed at a stakeholders' dialogue on `Framework for Economic Growth Pakistan' held here at the University of Sindh on Thursday.

The dialogue initiated by the Planning Commission of Pakistan to develop an implementation strategy on its recently launched framework was organized by Governance Institute Network International (GINI) and University of Sindh with the support of Department for International Development (DFID).

Pro Vice-Chancellor of Sindh University Campus Jamshoro Dr Parveen Shah presided over the inaugural session while a large number of students, academia, media, entrepreneurs, officials of Planning Commission and other stakeholders participated in the discussion.

Advisor to GINI Daniyal Aziz briefed the audience about the salient features of new growth strategy. He said the objective behind this dialogue is to take the input of stakeholders especially academia, civil society and entrepreneurs about the growth policy. He said in new strategy emphasized the role of state, governance methods and competitive markets.

He lauded the efforts of Planning Commission for highlighting the issue of growth.

Planning Commission's officials Dr Haroon and Imran Ghaznavi highlighted the key points of the Framework and received the participants' suggestions.

In his video address, Deputy Chairman of the Planning Commission Dr Nadeem ul Haque said Pakistan's growth rate has been `volatile'.

Stressing the need for a change in growth policy, Dr Nadeem ul Haque said we require a sustained Gross Domestic Product (GDP) growth that should be 7 per cent to cater to the needs of two million children who are annually adding to our population.

He said besides building infrastructure, we should focus on good governance, competitive markets and a conductive environment for trade and entrepreneurship.

Earlier, Pro Vice-chancellor Dr Parveen Shah appreciated the Planning Commission's efforts to produce a new growth policy she said it a challenging task and needs commitment.

Copyright APP (Associated Press of Pakistan), 2011