Implementation of policies: ‘Problem lies in mechanism’
LCCI acting president urges use of natural resources.
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.
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.