The Centre for Policy studies held its third seminar focused on the economy of Pakistan today at COMSATS Institute of Information Technology (CIIT). Topic of the seminar was, Economy of Pakistan: The Way Forward.
Rector CIIT Dr. S.M.Junaid Zaidi presented welcome address. Six eminent scholars of Pakistan from the field of Economics including Dr. Hafiz A.Pasha, Dr. Ashfaque. H. Khan, Mr. Sakib Sherani, Shahid H. Kardar, Dr. G.M. Arif and Dr. Vaqar Ahmed addressed the gathering and highlighted important issues and problems of Pakistan’s economy. They focused on the economy of Pakistan at a critical time when the new government has taken over.
The issue facing the economy includes wide spread shortages of energy, crumbling infrastructure, the worsening security and law & order situation, rising domestic and external debt, trade and balance of payments deficits, weak fiscal system with ever rising budget deficits, and continued capital flight.
Lack of energy sources has resulted in serious unemployment and inflation making it difficult even for the employed poor to afford two square meals a day for their families.
Government of Pakistan should provide funding and implement polices to enhance development in all spheres of life. Khalid Saeed, Director CPS concluded the seminar and vote of thanks to participants.
All speakers recommended that all developing economies should have strong economic teams of experts to deal with domestic issues such as education, poverty, energy, debt and to form polices and to engage lending agencies like IMF and IFIs.
They also strongly recommended promoting honest Tax culture in country to strengthen one of the very important drivers of economy. The seminar was attended by the faculty, administration and eminent scholar of CIIT.