ISLAMABAD:
Countries with a large proportion of middle class have achieved exceptional economic growth throughout the world despite global recession. This was said by Sustainable Development Policy Institute (SDPI) Head of Inclusive Growth Unit Dr Vaqar Ahmed in a seminar on “Business and Middle Class in Pakistan” held by the Planning Commission of Pakistan on Wednesday, said an SDPI press release.
Citing evidence from a recent study by Pakistan Institute of Development Economics, Ahmed said Pakistan had a significantly larger middle class (between 32 to 80 million depending on the method of calculation) compared to its neighbouring countries. The major chunk of this class resides in urban areas, Ahmed said.
He stressed on urban growth and management to accommodate the middle class and also recommended measures such as infrastructure and social sector governance to improve the efficiency of markets and public expenditure.
Published in The Express Tribune, December 1st, 2011.
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True! You need money fr infrastructure;yet Pakistan has no municipal bond market-eve with PLGCs they got an instrument that could be used to develop a sustainable municipal bond market. For that compare PLGCs to the LGC of North Carolina and its role in municipal bond issuance.