Competitiveness amp Structural Reforms in Pakistan Background 2 CPEC provides a new narrative for Pakistans economy However the infrastructure endowments under CPEC are not new ID: 775837
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Slide1
Beyond CPEC: An Agenda for Competitiveness & Structural Reforms in Pakistan
Slide2Background
2
CPEC provides a new narrative for Pakistan’s economyHowever, the infrastructure endowments under CPEC are not newAmerican’s gave us these endowments in the 1950s and 60sPublic infrastructure during 1970s-90s was weakly managed along with lack of accountabilityKey argument is that we do not use assets optimally for the growth of our private sector and regional trade integration.
Pakistan's Agenda for Economic Reforms - Oxford University Press
Slide3Background-II
3
Thinking beyond CPEC: The dividends from infrastructure development under China-Pakistan Economic Corridor program will remain unrealized if Pakistan does not move towards expediting macro-level reforms that reduce cost of doing business for private enterpriseThese (dividends) are not offered to neighbors through reduced costs of trade & investment. Need for structural reforms: Some pending structural reforms in the areas of economic governance, trade competitiveness and energy are the key to growth and sustainability of private enterprises in Pakistan.
Pakistan's Agenda for Economic Reforms - Oxford University Press
Slide4Growth & Governance
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Pakistan's Agenda for Economic Reforms - Oxford University Press
First, weak
rule of law
hampers long term
economic
growth prospects
Second, delays in
legal and judicial reforms
accentuate governance challenges, in turn
threatening sustainability of growth
Third, lack of
public administration
reforms
decreases efficiency and effectiveness of
taxation and public expenditure
Fourth,
corruption in institutions of economic governance
affects businesses
and ultimately government revenues.
Slide5Pakistan's Agenda for Economic Reforms - Oxford University Press
Source: Worldwide Governance Indicators,
www.govindicators.org
Slide6Pakistan's Agenda for Economic Reforms - Oxford University Press
Source: Worldwide Governance Indicators,
www.govindicators.org
Slide7Institutions for Economic Governance
7
Institutional review: Ministry of Finance, Ministry of Planning, Development and Reform (MoPDR), Ministry of Commerce (MoC) and Federal Board of RevenueCross-cutting issues: Human resource management in public sectorNeed for accounting systems that minimise wastages and leakages in expenditures Need to shed non-essential tasks.
Pakistan's Agenda for Economic Reforms - Oxford University Press
Slide8Federal economic governance – back to the basics
8
Pakistan's Agenda for Economic Reforms - Oxford University Press
Slide9Public Accountability Institutions
9
Pakistan's Agenda for Economic Reforms - Oxford University Press
Slide10Regulatory arrangements
10
Pakistan's Agenda for Economic Reforms - Oxford University Press
Slide11Key argument: disconnect between executive, regulatory & accountability institutions
Pakistan's Agenda for Economic Reforms - Oxford University Press
Slide12Case Study-1: Tax Regime in Pakistan
12
Pakistan's Agenda for Economic Reforms - Oxford University Press
Slide13Case Study-2: Energy Sector in Pakistan
13
Pakistan's Agenda for Economic Reforms - Oxford University Press
Slide14Case Study-3: Public Expenditure Management
14
Pakistan's Agenda for Economic Reforms - Oxford University Press
Slide15Case Study-4: Implementing Trade Policy
15
Pakistan's Agenda for Economic Reforms - Oxford University Press
Slide16Pakistan's Agenda for Economic Reforms - Oxford University Press
Logistics performance scores given in data labels range between 1 to 5; very low = 1, and very high =
5
Source
: World Development Indicators,
2016
Slide1717
Pakistan's Agenda for Economic Reforms - Oxford University Press
Slide18Who will do this? How?
Pakistan's Agenda for Economic Reforms - Oxford University Press
Slide19Who will do this? How?
Pakistan's Agenda for Economic Reforms - Oxford University Press
Slide2020
Pakistan's Agenda for Economic Reforms - Oxford University Press
Slide21Thank You
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