Reviving the economy
By Farhan Bokhari
ISLAMABAD: Finance minister Shaukat Tarin’s promise to reverse Pakistan’s sluggish economic growth marks a timely departure from an ill-advised officially-accepted slowdown of recent years.
Mr Tarin’s promise though welcomed by many stakeholders, nevertheless needs a redefinition of Pakistan’s economic direction, both in policy terms and backed by long overdue reforms of key institutions. Historically, periods of a relative lift in Pakistan’s economic growth have not been sustainable.
Exactly what were the missing elements that drove Pakistan through its boom and bust cycles remains an unresolved riddle? Was it the inflow of generous foreign assistance that helped raise the numbers till the patronage dried up? Was it divine help that raised the output of vital crops and had a salutary but temporary impact on the overall economy? Or was it simply a mix of unforeseen factors like a lift in private foreign inflows coupled with elemen
‘Reviving the economy’
By Farhan Bokhari
ISLAMABAD: Finance minister Shaukat Tarin’s promise to reverse Pakistan’s sluggish economic growth marks a timely departure from an ill-advised officially-accepted slowdown of recent years.
Mr Tarin’s promise though welcomed by many stakeholders, nevertheless needs a redefinition of Pakistan’s economic direction, both in policy terms and backed by long overdue reforms of key institutions. Historically, periods of a relative lift in Pakistan’s economic growth have not been sustainable. Exactly what were the missing elements that drove Pakistan through its boom and bust cycles remains an unresolved riddle? Was it the inflow of generous foreign assistance that helped raise the numbers till the patronage dried up? Was it divine help that raised the output of vital crops and had a salutary but temporary impact on the overall economy? Or was it simply a mix of unforeseen factors like a lift in private foreign inflows coupled with e