Macroeconomics Needs to Shift from Stabilization to Sustainability: Report

Basics of macroeconomy of Pakistan needs to shift from stabilization to sustainability, from consumption to investment, from imports to exports and from service sector to industry. This was said by the Director of the Centre for Strategic Perspectives (CSP), Dr. Neelum Nigar while giving an overview of a recently published report titled, “Economic Security of Pakistan: Challenges and Way Forward”. The Centre for Strategic Perspectives (CSP) at the Institute of Strategic Studies Islamabad (ISSI) launched its Special Report today, for which Minister of State for Finance and Revenue, Dr. Aisha Ghaus Pasha was invited as a Chief Guest. During the ceremony, Director General ISSI, Ambassador Aizaz Ahmad Chaudhary welcomed the speakers and shared the idea behind launching the report. In his remarks the Ambassador stated that national security should be measured on a tripod of economic security, human security, and traditional security and the primacy given to Pakistan‘s economic security in the overall national security calculus is a step in the right direction. The Chief Guest, Dr. Aisha G. Pasha, stated that currently there is no imminent threat of default as the government has secured external financing needs for the year 2023. She also emphasized the need for structural reforms of permanent nature with the consensus of all stakeholders. She proposed increasing tax compliance and implementing of right taxation policy to achieve long-term sustainable economic growth. Dr. Pasha also stated that the recommendations and structural reforms highlighted in the report are very important and must be implemented to ensure the overall economic security of Pakistan. Other panellists included: Executive Director SDPI, Dr. Abid Q. Suleri, Ambassador Seema Ilahi Baloch, Joint Chief Economist, Ministry of Planning, Development and Reforms, Mr. Zafar ul Hasan and President Reenergia, Mr. Amir Zafar Durrani.