Pakistan's performance has been much lower than desired in terms of achieving Millennium Development Goals (MDGs), said Former Advisor to Prime Minster on Finance Dr Hafeez Pasha here Saturday. Addressing an event in connection with 70th anniversary of the UN under the aegis of Institute of Strategic Studies (ISS) on the topic of challenges and opportunities peace, security and development, he said Pakistan has only been able to achieve four of the eight MDGs targets.
He added that no country has been able to achieve all the goals but China and Vietnam in the region have topped in terms of MDGs performance. Former advisor to Prime Minister regretted, now instead of eight, there are 17 MDGs targets and for the first time target of governance has also been included. Additionally, he stated that 160 targets set for sustainable development goals are even more ambitious and wondered how these are going to be achieved.
Hafeez Pasha said that development during the last few decades has been inequitable, as per annum in dollar terms per capita in middle income countries was around 7 percent and in upper income countries 9 percent. However, he stated that it was hardly 3 percent in low income countries. The poverty reduction percentage among low income countries was around one third as compared to 90 percent in upper middle income countries.
Hafeez Pasha said that MDG target eight, which was aimed at building global partnership among developing countries in terms of trade etc, was never achieved. Thus, the performance, he stated, remained unsatisfactory and elusive in characteristics. Hafeez Pasha regretted that Pakistan exports to China have declined by 20 percent during last two years, which was a matter of concern for the country. On the other hand, he stated that exports of China to Pakistan are five times more compared to Pakistan's exports to China, reflecting a trade imbalance between the two countries but expressed gratitude to China for China Pakistan Economic Corridor (CPEC).
Later, talking to mediapersons, Hafeez Pasha said after MDGs targets, SDGs 160 targets are unrealistic and ambitious. Pasha also wants that Finance Ministry must take approval of the Parliament before imposing Rs 40 billion new taxes to meet the revenue shortfall.
He questioned what is the point to present the budget when government brings new taxes of Rs 40 billion after every quarter? "This is the mockery of whole budgetary process," added Pasha who also raised serious concerns over government policy of taking loans to build forex reserves.
Ashfaq Hasan Khan, former economic adviser to Finance Ministry, while moderating a session on "a harmonious world: role of UN," emphasised the need for global dialogue on the MDGs as developing counties like Pakistan are facing enormous challenges in achieving the 17 MDGs and 139 targets as well as over 300 of its indicators. He said that the developing countries like Pakistan have no capacity to achieve all the targets, adding they should identify key targets within their resources.