Both the International Monetary Fund (IMF) and the World Bank (WB) have lowered growth projections for Pakistan. What does it mean? It means low economic activity. So what should be the government's game-plan? The prime minister held a meeting with a delegation of country's leading manufacturers on Thursday to discuss how to boost exports. The delegation reportedly presented to the prime minister a set of proposals aimed at increasing exports. The government must look into their proposals with a view to reaching some policy decisions through which the objective of higher exports can be achieved. It is however quite ironic that their presentation to the prime minister coincided by grim growth forecasts by the IMF and the WB. The situation underscores the need for some creative thinking on the part of our policymakers, particularly Adviser to Prime Minister on Finance and Revenue Dr Abdul Hafeez Sheikh. There's no room for complacency.
Fauzia Shahab (Islamabad)
Copyright Business Recorder, 2020