Eco­nomic growth to help re­duce poverty

The Pak Banker - - 2national - Staff Re­porter

IS­LAM­ABAD: Em­i­nent Econ­o­mist Dr Ash­faq Hasan terms eco­nomic growth and con­trol of price in­fla­tion ef­fi­cient help to mit­i­gate the poverty and al­lied is­sues.

Talk­ing to a pri­vate TV chan­nel, Ash­faq Hasan said that poverty and growth are in­ter­linked. Poverty can never be com­pletely elim­i­nated as

it is a rel­a­tive term. In for­eign coun­tries 6% to 7% ra­tio of poverty re­mains de­spite their ut­most ef­forts to elim­i­nate it, he said.

Re­ply­ing to a ques­tion, he said the to­tal ra­tio of poverty in Pak­istan is 22.3 per cent and it has been re­duced from 34.5% since 2000 to 2010. In 2008 in­fla­tion in­creased from 5 to 6 per cent, he told.

Ex­pert said only eco­nomic growth can en­sure smooth run­ning of state busi­ness and can cre­ate job op­por­tu­ni­ties and in­crease in the in­come.

Re­ply­ing to an­other ques­tion he said Pak­istan was about to reach

15 % of eco­nomic growth rate but in 2008 it was re­duced to 17% due to var­i­ous rea­sons and now its dif­fi­cult that we could reach the tar­get.

"BISP and other pro­grammes only pro­vide help and re­lief to the poor peo­ples ac­cord­ing to their sit­u­a­tion but they can never cre­ate jobs for them and be the source of in­come for the peo­ples, he added.

He sug­gested that poverty can be re­duced only by eco­nomic progress and the role of pri­vate sec­tor in this re­gard also worth men­tion­ing.

The re­spon­si­bil­ity of the govt is to evolve pol­icy and not to pro­vide jobs to the cit­i­zen. The pri­vate sec­tor is there to ar­range the job op­por­tu­ni­ties for the cit­i­zens, he main­tained.

Newspapers in English

Newspapers from Pakistan

© PressReader. All rights reserved.