Article Type

Article

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The incoming elected government, upon assumption of office, will have a myriad of pressing issues to resolve. One of its immediate tasks will be to formulate and announce the national budget. Along with the budget, the government will be well advised to announce an economic policy direction statement. This should sketch out the broad contours of economic policies and institutional reforms they propose to carry out during their tenure. This statement is critical to inform the domestic and foreign investors, who have been in a ‘wait and see’ mode for quite some time, about the overall policy framework. Uncertainty has prevailed in Pakistan for last five years and its persistence is detrimental for investor confidence. Investment is required to utilise existing and expand new capacity, revive growth, create jobs and reduce poverty. Unless this uncertainty is removed, investment will not start to flow in and the economy will not be able to take off. What should this statement consist of?

Publication Source

The News

Publication Date

5-13-2013

Pages

1-4

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