Pakistan Aims to Strengthen Private Sector, Boost Exports;Mazhar Saeed Shaikh

New York-(Mudasssar Iqbal)-Pakistan is at a crucial crossroads, facing significant decisions that will shape its future, Pakistani Ambassador in USA Mazhar Saeed sys,  The World Bank has launched a series of policy notes, “Reforms for a Brighter Future,” to contribute to the ongoing public dialogue. This initiative aims to foster discussion and debate around key areas of reform, supporting progress toward a more prosperous and sustainable future.

He met with Pakistani Community in New York Consul Journal he said, Pakistan’s challenges are multifaceted, and addressing them requires a comprehensive approach. The eight critical themes identified by the World Bank are interconnected and require coordinated reforms.

Pakistan’s stunting rate stands at 40% among children under five, affecting brain development and health. Improving access to safe drinking water, sanitation, and hygiene, as well as nutrition for pregnant and lactating mothers and infants, is crucial.

Education is another area of concern, with 75% of 10-year-olds unable to read or understand simple texts. Prioritizing education, increasing funding, and improving teacher training can address this issue.

The private sector faces hurdles due to high tariffs and inefficient state-owned enterprises. Reforms can encourage firms to export, improve competitiveness, and increase investment.

Agriculture receives significant public support but performs below potential. Repurposing public spending toward higher-value subsectors can boost productivity.

Pakistan’s energy sector is inefficient and costly. Reforms can promote sustainable energy sources, reduce subsidies, and increase private sector participation.

Tax revenue collection is low. Reforms can broaden the tax base, improve tax administration, and reduce exemptions.

Public spending is inefficient. Reforms can prioritize essential services, reduce waste, and improve transparency.

Weak institutions hinder effective implementation. Reforms can improve accountability, transparency, and merit-based appointments.

The World Bank engages with stakeholders, including think tanks, academics, youth, women, public sector workers, private sector representatives, NGOs, policymakers, and others. Open dialogue and debate will inform Pakistan’s decisions and shape its future.

Effective implementation requires coordination among various stakeholders. The government, private sector, civil society, and international partners must work together.

Pakistan’s future depends on its ability to address these challenges. With collective effort and commitment, Pakistan can create a brighter, more sustainable tomorrow.

The World Bank’s policy notes provide a foundation for discussion. Now, it’s up to Pakistan’s stakeholders to seize this opportunity and shape the country’s future.

Pakistan’s progress will have far-reaching implications, impacting regional stability and global economic growth.

The time for reform is now. Pakistan’s future depends on it.