He said that new growth strategy would help improve competitiveness, promote investment based on innovation and entrepreneurship and exploit the potential of the country’s large domestic market.
Shaikh hoped that during the current fiscal year exports will cross US $22 billion and called for adopting long term result oriented policies for economic growth and prosperity whose benefit reach all segments of the society particularly poor
The government is facilitating the private sector an engine of economic growth and that it is not the job of the government to do business but make policies and regulations which promote business, said Shaikh. He added that the government has initiated prudent economic policies for the prosperity of the country.
In his lecture Professor Alan Winters, one of the UK Government’s chief economists, stressed the need for the inextricable link between economic growth and poverty reduction. He said that economic growth and poverty reduction go hand-in-hand, getting more people in the jobs will lift them out of poverty and create more consumers driving more production and demand
He added that as more people increase tax returns allowing the government to improve living standards of people by investing in schools, hospitals and other infrastructure projects.
Published in The Express Tribune, January 28th, 2011.
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