The Pakistan Business Council has published its agenda for the incoming government (download: https://t.co/C5rrOIloIJ).
Pakistan faces an existential crisis. With no further handouts likely to be forthcoming, the first task of the incoming government would be to negotiate the 24th IMF Programme. It should seek a longer term, reform centric programme instead of the previous short term, front ended programmes, targets for which are easily met by taxing the taxed and by raising energy tariffs instead of conducting deep reforms of the energy sector. It is also important to reprofile external debts, otherwise the threat of default will persist and negatively impact investor and business sentiment.
The government has no space to continue providing exemptions, unlimited protection and subsidies other than a limited amount through BISP. Sectors enjoying these privileges must prepare to stand on their feet without such crutches.
Reviving industry will require energy at a competitive cost. This is only possible by addressing the fundamental flaws that exist in the energy sector.
Exports are the only sustainable way to manage the external account. Import crunch is a short term measure which denies essential inputs. Only by providing export incentives that are comparable with the region will Pakistan be able to add more value, broaden the export basket and widen the export reach.
Pakistan has for years been under-investing in social development. Coupled with a fast growing population, we now have South Asia's poorest and weakest human capital. Human capital development is vital for productivity. It will require more resources to be mobilized than hitherto. We need a broad tax base and predictable and equitable tax policies. Taxing the already taxed to meet IMF or other targets is akin to killing the goose that laid the golden eggs.
Concurrent with increasing the development expenditure and spending it in more effective ways, the government needs to curb non-development expenditure to reduce its need to borrow. This will be facilitated by an adjustment in the NFC award by increasing the incentive for provinces to tax agriculture and properties.
It is no longer possible for the nation to carry the burden of losses and inefficiencies of the state owned enterprises. These should either be closed or privatized. State capture in commercial sectors provides an unlevel playing field for the private sector. It is essential for private sector to form consortiums to participate in the privatization programme.
The private sector must become more externally oriented instead of just focusing on the domestic market. It should invest in agriculture, mining, tourism and actively work to indigenize imported inputs.
Last but not the least important, at the rate that Pakistan's population is growing, food security will remain a challenge and will continue to create pressure on our balance of trade. We are presently a net importer of food. Private sector led and government policy supported interventions in seeds, technology, finance, cold chain, storage etc., will ensure that food remains available and affordable. To the common person, this is far more important than all the other economic parameters.
PBC is Pakistan's premier business advocacy body, supported by over 100 leading local and multinational companies from 17 sectors and 14 countries. We are pan-sectoral, research based with over 200 studies to date, all available free of cost on our portal: https://t.co/p40KL8iZiO @PPP_Org@pmln_org@PTIofficial@istehkamPK@sifcpakistan@Financegovpk@PakPMO@mincompk@PlanComPakistan@1sakhtar
The @PEBS_Hospital Marathon Team, called on US Consul General #Karachi, Mr Conrad Tribble, at the @usconsulatekhi, prior to their departure soon, for upcoming (42.2km) Chicago Marathon @ChiMarathon 2023 & also enjoyed an afternoon of race activities.
#PEBSMarathonTeam consists of 7 runners & is the largest group travelling to #USA 🇺🇸 from #Pakistan 🇵🇰
This is the first time any charity health facility in Pakistan, has marathon runners, all busy professionals from diverse occupations, running together, to raise awareness and funds, which specifically in this case is for the #Free_Surgery of #OralCancer.
Special Thanks to Conrad, members of the Consulate & US Marines, for supporting PEBS Chicago Marathon Team & shooting of this video at the Consulate.
The team includes: @DanishEGC@faisalshafi1982@nosh160379@junaidmuhammadd Kaukab Sarwar @shoaibnz & myself
Supported by: Jimmy Mauldin, Dr Mahwash Khan & Safinah D. Elahi & @sportsNpakistan
#Tapering for @LondonMarathon in #Karachi 🇵🇰 with just 2 weeks to go
To be honest, didn’t enjoy last nights #longrun. Mosquitos, hot & humid! Terrible conditions!
On top of that is cumulative effect of fasting, which means lack of sleep & being in negative balance of hydration & nutrition
Team mates are doing well 👏 @nosh160379@faisalshafi1982@DanishEGC
#BeatOralCancer
#PEBSLondonMarathon
Most honoured to have had Ms Nicole Theriot, @MartinDkarachi & Dr Akhtar Jamal Khan speak to the guests on this historic occasion
Dr Akhtar is a senior, most humble & respected personality of 🇵🇰
Founder of Akhtar Eye Hospital 1982, catalyst for @PEBS_Hospital Est.1989 & Chairman of Ophthpharma Pharmaceuticals Pvt Ltd.
Former Faculty at @AKUGlobal. Seat in many organisations, including Professor & Incharge @SIUTOrg Eye Department. Past-President of Pakistan Society of Ophthalmology
Grateful to US Consul General Ms Nicole D. Theriot, British Chief of Mission @MartinDkarachi, Donors, Friends & Family, for making time from their busy schedules, on a week day, to attend the Inauguration of @PEBS_Hospital #OralCancer #SurgeryUnit #ICU & #GeneralWard, in North Karachi.
#beatoralcancer
#TogetherWeCan
Unique Facility #Free_of_Cost, for those suffering from this terrible disease
#MaxillofacialSurgery
#OMFS
@ImranRiazKhan Lesson for all but more important is to let democracy flourish and take roots. Establishment engineering can’t be justified - it can’t be right when it suits your interest and wrong if it doesn’t . And finally your opponent is not your enemy. Learn to respect opposing views .
@ImranRiazKhan Congratulations to PTI and its supporters . A comprehensive and big win across Punjab . IK narrative is resonating with masses , it was well organised campaign. Must respect the voice of the masses .
At the end of the day democracy against proved to be the best revenge .
@ImranRiazKhan Hahahaha @ImranRiazKhan love your extreme bias . Waisay how much do you get paid to do all this ? Learn to put pakistan ahead of your money . The experiment failed and let the system evolve . If you can , go something good than spewing hatred . Manjan won’t sell anymore
@ImranRiazKhan A pen terrorist . One who spews hatred , divides the nation and have clear vested commercial interests behind your biased journalism @ImranRiazKhan