Implementation of policies: ‘Problem lies in mechanism’

LCCI acting president urges use of natural resources.


June 14, 2011

LAHORE:


Economic growth hinges on implementation of good governance practices and value addition, therefore, the government needs to revisit its economic-related policies, while taking the private sector on board, according to LCCI Acting President Sheikh Mohammad Arshad.


Arshad said that it was very unfortunate that a country that had many resources in abundance was fast heading towards a point of no return, only because of unavailability of a mechanism for implementation of government policies.

He said all policies would give desired results if they are made in consultation with concerned stakeholders and those made in isolation would definitely not work.

Arshad said that Pakistan was the fourth largest cotton producing country of the world, and have the fifth and third largest reserves of gold, copper and coal, respectively. According to a rough estimate, value of our coal reserves is around $ 3 trillion that is 187 times more than the GDP of Pakistan.

The worth of our coal reserves is higher than the combined oil reserves of Saudi Arabia and Iran, he added.

Published in The Express Tribune, June 15th, 2011.

COMMENTS (1)

Salman Javed | 12 years ago | Reply We are a nation of self haters. Let's just stop doing that and get out of the fallow economic jargon's like, largest producers, or highest spenders. These indicators don't really mean anything to the world or the nation. What matters is a nation's competitiveness and her capability to compete with the rest of the world. And we are ways behind in the competition race. Just admit it, then measure the reality and develop accordingly, or be prepared to die.
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