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lets do some policy making......
what do you think of government selling its land to create space for economic activities...
what do you think of government unbundling railways into: rail tracks and signalling; station management; and services (passenger and freight) and then privatizing them all....
what do you think of government introducing '6th freedom right' for our aviation industry....
what do you think of government increasing the area to hight ratio for commercial plazas.....
what do you think of government introducing 'electronic signatures act' to increase role of ICT in offices.....
what do you think of government introducing PaCCS on all custom posts of pakistan......
all the presentations on various themes of NDA can be found here:
Presentations on New Development Approach
lets think... lets debate
I would love this if such reforms are made in our railways system... and any one will be willing to buy such huge asset of pakistan... there is lot more potential in railways then any one ever thought of...
this all is gud from a political point but not from an economic point of view.
tax breaks: what tax breaks? pakistan tax to GDP ratio is the least in asia. also more tax breaks plus subsidies mean increasing dependence on IMF etc.
low cost credit: meaning government will have to pay the banks to decrease their banking spread. again not possible for pakistan and unsustainable for any country.
protection: well our textile sector has always been productive but even today they are far from being innovative. they still depend on govt subsidy. so the question to ask is if protection of last 6 decades has really benefited our textile sector?
you can also take the case of auto-mobile sector which is heavily protected. but what have we gained out of it? only assembly plants at the cost of consumers.
stable currency: in short term this can again only be achieved through buying foreign currency. and we cant do that. we have to stop resisting the reality and allow the equilibrium exchange rate to prevail in the market.
and about MSME: well all the empirical evidence suggests that competition is good for growth and innovation. yes marginal insulation should be provided to allow them enough time to establish their foothold. however, this has already been provided through various barriers to trade etc..
and accept the fact China is the industrial house of this world. they have all the comparative advantage. yes they have produced cheapest of goods so far but now they are improving in quality as well. only comparative advantage which pakistan can expect to have interms of regional economies is interms of services sector which ultimately does benefit both industrial and agricultural growth.
lastly pakistan is not india. our geography, politics, and economic climate is very different and therefore what might be feasible or sustainable in india might not be true in pakistan's case.
regards
The countrys future development and prosperity are centered on enhanced productivity, strengthened internal markets and innovative, community-led urban development.
on the basis of which the countrys development plans would be carried out
Sources said the two key factors that have determined economic growth in the past are external resource inflow and public sector projects. The latter used to be mainly financed by the former.
The NDA should now be based on endogenous growth, where the quantity of investment should be complemented by efforts to improve the quality of investments i.e., their productivity and efficiency.
reation of competitive markets is the starting point towards sustained economic growth. Free and flexible markets should allow businesses, which have run their course, to exit and be replaced by more efficient firms. Instead of providing incentives and subsidies to different sectors, markets should be allowed to determine optimal allocation of resources. Second, it is imperative that there are deep reforms, which limit the effectiveness of rent-seeking mechanisms. Third, a sound judicial system that ensures property rights and contract enforcement could go a long way in sustaining inclusive growth. Fourth, the triple helix system of promoting innovation should require universities, industry and government to collaborate for the promotion of new and marketable ideas. Finally, entrepreneurship should be incorporated in school curriculums at all levels of education. Institutions having practical facilities for young entrepreneurs need to be strengthened. Demand-driven approach for internal markets, starting with consumers and working back to link into supply systems with the producer by improving the quality and quantity of retail outlets according to the NDA.
What? Enhanced productivity - is that improving productivity? How?
In other words the foreigner will fund specific projects in which they can be told has a high degree of local ownership - screw central planning, the money's more or less free, so, well, you know... come with empty pockets and leave with them full - Hey give the Awaam what they want and if they want the finger, why stand in their way?
Saave?? Comprendo? Samj aahi?
What is high productivity in the Pakistani context or in any business context?? Did someone say "lower costs" - you get the Chawani.
And we lower costs by........?? remember the single digit salute?? We can lower costs over the long term by investing in capital equipment to lower our costs or we can pay less OR we can pay more money that has less value -- get it?? Buy that forex in todays rupees, Now.
You can't - you just can't create Markets by govt. Fiat -- and as you read the above piece, please do think about the HOW - because it's no where in the article. Could be, Should be ---it's just pie in the sky but the crowd that prefers to feel "good" instead of being real will appreciate it, they always do.