ISLAMABAD: We need to improve the macroeconomic environment, bring debt under control, restore investor confidence, revive economic growth, and restore financial sovereignty. This was said by Dr Asfaque Khan, Dean and Professor at NUST Islamabad, on Tuesday.
He was giving a lecture at a seminar on “Economic Policy: What needs to be done?” organised by Sustainable Development Policy Institute.
He said the strategies that needs to be followed are a) introduce wide-ranging structural reforms; b) develop policies to improve macroeconomic environment; c) reduce twin deficits; d) reduce inflation; e) build foreign exchange reserves; f) maintain stability in exchange rate
and g) continuity and consistency in policies.
Dr Ashfaque gave a detailed presentation on the economic policy since 2000 to the present and compared the present situation with 1990s. He said that challenges we are facing today are the same that Pakistan faced back then.
He was of the opinion that 2007 was the turning point in Pakistan’s economy. Due to political crises and instability and change of three governments, economy started going downhill, from which it never recovered.
Published in The Express Tribune, February 9th, 2011.
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