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”)