AgNoStiC MuSliM
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The IMF projections are conditional to certain reforms and steps that the GoP has take, namely,
"To do so, Pakistan has to address impediments of increasing investment and to provide infrastructure, educated and skilled human capital, improve business environment, and level of governance", he said. "But in three to five years Pakistan, strongly growing on the structural reforms path, can also catch a growth rate of 8 percent, equal to its Asian rivals. That is also an average growth rate of Asia next year,"
If the GoP manages to start alleviating the power shortage in the next year or so, and we continue to make progress against terrorism and towards regional stability, we might see the higher growth rates in about 3 to 5 years.
But a lot depends on those 'ifs' outlined by the IMF, and with the departure of Tarin, who appeared to be a man who could handle it, there is a lot of uncertainty.
If Gillani gets his way and appoints Makhdoom Shahabuddin (a man widely considered to be useless as a finance minister keeping in mind his qualifications and past record as finance minister) we may as well forget the chances of any economic progress till the next government is elected.
The appointment of the new Finance Minister is one issue on which I hope Zardari gets his way, since both his candidates, Baig and possibly Pasha, have the qualifications to at least approach fixing the problems with the economy from an economics standpoint.
"To do so, Pakistan has to address impediments of increasing investment and to provide infrastructure, educated and skilled human capital, improve business environment, and level of governance", he said. "But in three to five years Pakistan, strongly growing on the structural reforms path, can also catch a growth rate of 8 percent, equal to its Asian rivals. That is also an average growth rate of Asia next year,"
If the GoP manages to start alleviating the power shortage in the next year or so, and we continue to make progress against terrorism and towards regional stability, we might see the higher growth rates in about 3 to 5 years.
But a lot depends on those 'ifs' outlined by the IMF, and with the departure of Tarin, who appeared to be a man who could handle it, there is a lot of uncertainty.
If Gillani gets his way and appoints Makhdoom Shahabuddin (a man widely considered to be useless as a finance minister keeping in mind his qualifications and past record as finance minister) we may as well forget the chances of any economic progress till the next government is elected.
The appointment of the new Finance Minister is one issue on which I hope Zardari gets his way, since both his candidates, Baig and possibly Pasha, have the qualifications to at least approach fixing the problems with the economy from an economics standpoint.
