Shaukat Tarin

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He high­lighted the im­por­tance of a “Sta­ble Macro Econ­omy” which is a key pre­req­ui­site to “Sus­tain­able Eco­nomic De­vel­op­ment”. Some sig­nif­i­cant steps that he listed are: 1. No Sa­cred Cows Tax regime. 2. En­hanc­ing tax to GDP ra­tio to 15

per­cent in five years. 3. Re­moval of losses in pub­lic

sec­tor. 4. Sta­ble in­ter­est rate.

Tarin em­pha­sizes the im­por­tance of im­prov­ing so­cial in­di­ca­tors. Pak­istan has seen one of the low­est in­vest­ments in this sec­tor. For decades to­tal spend­ing on Health and Ed­u­ca­tion has not ex­ceeded 3 per­cent of GDP. No coun­try has pro­gressed with­out prop­erly ed­u­cat­ing its peo­ple and look­ing af­ter their health.

Tarin elab­o­rated on the fol­low­ing points: • Im­por­tance of im­prov­ing live­stock and agri­cul­ture yields as we have huge po­ten­tial and can be a global power in the field. In­vest­ment in in­fra­struc­ture will pay rich div­i­dends and is crit­i­cal to GDP growth. Rad­i­cally chang­ing the en­ergy mix and in­vest­ing in en­ergy and other min­eral re­sources. Well func­tion­ing fi­nan­cial mar­kets can play a key role in pro­vid­ing ‘In­clu­sive Growth’ in Pak­istan. Pri­vate sec­tor must take the lead role in eco­nomic growth and job cre­ation while the govern­ment must en­sure an en­abling environment. All of the afore-stated will not hap­pen un­less there are ma­jor struc­tural changes made by the govern­ment book bal­anced and lim­its set to its role in pol­icy-mak­ing. The fi­nal rec­om­men­da­tions made by Tarin: 1. Im­prove the se­cu­rity sit­u­a­tion in

the coun­try. 2. Im­prove the so­cial in­di­ca­tors. 3. Make it eq­ui­table for the en­tire pop­u­la­tion (i.e. the growth agenda must be “In­clu­sive”)

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