Privatization should be top political agenda in coming election

ISLAMABAD: Advisor to the Prime Minister on Finance Dr Miftah Ismail Monday said privatization of state institutions should be on top of the agenda of all political parties’ manifestos for the forthcoming general election.

Whoever comes in power after elections should have the mandate to freely implement privatization reforms agenda without unnecessary opposition, he said speaking at Pre-Budget Symposium-2018 organized by Sustainable Development Policy Institute (SDPI) in collaboration with FES Pakistan here.

Dr Miftah said to fight poverty significantly, Pakistan's economy had to grow at 8 percent. "For that we have to change the way we have been doing in the past. The current governance model is not measuring up to the expectation of the people, which required changes," he added.

“Under tax amnesty scheme, we are giving the tax evaders a chance to declare their undeclared wealth,” he said adding that with the help of NADRA, a list of tax evaders, especially in the real estate, had been prepared and hopefully a large number of evaders would be brought into the tax net.

"We are enabling a system in which only those can buy properties or plot who is a tax filers, otherwise, one cannot buy any piece of the land," he added.

Deputy Chairman, Planning Commission Sartaj Aziz said owing to China Pakistan Economic Corridor (CPEC) related activities, improved energy security and improve law and order situation, Pakistan was expected to have more than 6 percent economic growth rate this year. “We have increased the development budget portfolio by three times in last five years”, he said, adding that the development budget was very much inclusive in term of human and people centric development.

"To sustain growth trajectory, we may require more investments in basic infrastructure development," he added.

SDPI Executive Director Dr Abid Qayuim Suleri said at the moment the economic growth rate was sustainable and growing. However, there was dire need of depoliticizing the economy, he added.

“Instead criticizing, the opposition political parties should come up with alternative budget proposals,” he said, adding all political parties should have political consensus on major economic issues.