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Article

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Prime Minister Nawaz Sharif has set out the agenda for 2014 by focusing on energy, extremism, economy, ‘trade not aid’ and governance. These are the right issues – very critical and linked together. But how can this agenda be implemented?

For each of these issues, responsibilities should be assigned, performance indicators specified and accountability for results established. This will enable the prime minister to assess the performance of his ministers and secretaries.

Policy credibility has been a casualty for too long and needs to be established. Tough policy decisions have to be taken in consultation with stakeholders prior to the announcement. Once a decision has been taken then the rollback under pressure of different lobbies gives a wrong signal. Price increases of petrol, utilities, atta or medicines are not received well by the public at large and the media, but not allowing the appropriate adjustment in prices is a sure recipe for disaster. Scarcities will persist, new investment to expand capacity will not take place and the government will be blamed for shortages. It is better to bite the bullet now rather than prolong the agony over time.

Publication Source

The Express tribune

Publication Date

1-1-2014

Pages

1-4

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Economics Commons

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