Crisis to Growth: Pakistan's Reform Agenda for Economic Revival
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- Опубліковано 5 тра 2024
- Doing same thing over and over again & expecting different results is Insanity - Einstein
Entering the 24th IMF program with adjustment still a distant dream Growth is likely to remain well below what is required by our young and over indebted economy
The economy is near default and likely to remain so, even in the IMF scenario, Over the next 3 - 4 years, the IMF says there will be a huge financing gap, probably larger than our reserves.
Pakistan's external financial requirements exceed USD 120 billion over the next 5 years. We require higher than 8% sustained growth.
PIDE recommends complementary actions with the IMF program to:
- Enhance growth
- Increase exports
- Improve productivity
- Increase investment
- Grow outward-looking listed corporates
- Develop brands and domestic market
This Debate was a joint venture of PIDE & WorldBank titled "Reform Priorities For Pakistan: Fiscal & Governance Reforms"
#Pakistan #IMF #Reform #Economy #Tax #Debt #Loan #SIFC #Investment #WorldBank #PIDEideas #Debate #ThinkTank #PakistanEconomy #Growth #Youth #incometax #TaxPakistan
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One of the best lectures for suggesting greatest reforms. Thumbs 👍...
This is pure comedy but Nadeem makes a good point and is very sarcastic
yea an indian would say that
Sir, Inflation is one of the major economy killer. SBP has miserably failed to control inflation, it's objective of existence. Is it a waste to spend billions on SBP?
Any economic reform must start with Demonetization. To do it without big disruption SBP has to immediately Re-implement RTGS, seamless STP, Aand Front End Banking Solution, Single OmniChannel for small payments, OneWindow Taz Deposit system be implemented. We tried to do all right during 2001 - 2009 but the system was sabotaged.
Muhammed Saleem Rehmani, Digital Transformation Specialist appointed as first CFO/Director Accounts in 2001.
The problem isn’t the IMF recommendations but that Pakistan doesn’t follow them. India, Indonesia, Thailand and South Korea were in an IMF program in the 1990s and never had to go back. All 4 countries are thriving now.
To answer one of the questions about how the Pakistan would manage its budget in the short term without raising taxes, his response was - what prevents donors from lending more. Huh? Why should donors lend more to a country which refuses to generate sufficient tax from its own citizens? It would make sense if he suggested that tax structure should be reformed and under taxes sectors like Retail and real estate should be taxed more. But he says those sectors are already overtaxed.
Pakistan needs to go to foreign institutions like IMF because they can give Pakistan the forex it needs, unlike the local thinkers who clearly cannot.
Going by the ideas PIDE is coming up with, it is a good thing that local ideas such as those spouted by PIDE are not what Pakistan is relying on.
High inflation and low growth is the price to slow down an overheated economy. But once the economy stabilizes, Pakistan doesn’t take the next step - reforming the tax sector to encourage productive sectors and improve productivity in the economy. It immediately goes back to spending big time to spur growth leading to overheating and another trip to IMF.
you are right ideally. however there is a pattern of IMF "mood" which signifies that it is a tool to pressurize govt.
Pakistani intellectuals need to come up with better ideas than the imf economists do to convince them and their political class. Give me more money because i don't want to collect tax is the same kind of narcissistic idea which led Pakistan to this situation
@@azanraza6234 bhai no disrespect, but in majority sectors army is involved in the business, they get concessions for everything to revenue kaha see aaega.. and majority population is highly radicalized as accepted by ur own think tanks and political commentators so reforms wont be possible. And till now feudalism is not abolished
bootchaat libertarian can't see military making cornflakes @@mayankumar1312
Army subsidy has been cut out quite recently in fertiliser. It is not difficult to do that. The gov cut out the subsidy for the whole sector on IMF recommendation.
Great talk. This guy is very smart.
Well done 👍 sir
In 1947, when Hindus and Sikhs were kicked out, you lost all your business minded people......And in return you got Nawabi type Muhajir from Lucknow who were only good for salaryman jobs.....In effect you kicked out job creators and got job takers in return.....
Sir jee our establishment is insane. You can give as many lecture as you can. Establishment will do whatever they want.
Doing same thing over and over again & expecting different results is Insanity - Einstein
Entering the 24th IMF program with adjustment still a distant dream Growth is likely to remain well below what is required by our young and over indebted economy
The economy is near default and likely to remain so, even in the IMF scenario, Over the next 3 - 4 years, the IMF says there will be a huge financing gap, probably larger than our reserves.
Pakistan's external financial requirements exceed USD 120 billion over the next 5 years. We require higher than 8% sustained growth.
PIDE recommends complementary actions with the IMF program to:
- Enhance growth
- Increase exports
- Improve productivity
- Increase investment
- Grow outward-looking listed corporates
- Develop brands and domestic market
This Debate was a joint venture of PIDE & WorldBank titled "Reform Priorities For Pakistan: Fiscal & Governance Reforms"
He has no idea about privatisation or modes of privatisation at 13:55. He said why don’t they do it on stock market.
why not? India has privatized several PSUs through direct listing of shares. no issues as far as i can see
Most of the SOEs are not even listed on the stock market. So in order to sell them on stock market, they will first have to be listed on PSX and if an entity is loss making to start with, it will be extremely difficult to list a loss making entity on stock exchange. The value of the stock will be zero or in minus. Who will buy them?
Nationalize IPPS
Remove income tax for all
Make industry duty free
Get out of WTO and save yourself from dumping import
Send max manpower abroad to get more remittance (India /pak per capita remittance is same )
Intellectual Outburst 😮. The old man has gone bonkers.
Stop corruption and nd everything will be okay.
Buy more fighter jets 😅😅 next go for aircraft carrier 6 billion dollar 💰 ha😅
Why do you go back to IMF, they don't beg you to take loans
Iskp ?
How can you tax DHA😂😂😂😂
bootchaat libertarian doesn't want DHA to be taxed
DHA paid in 20 billion rupees last year and in total of 100 billion rupees from all fauji companies
USSP - Union of Soviet Socialist Pakistan.
Colonialism is over or not?
😂 you are being so vocal and honest that I pray for your safety.On a lighter note 😅,they have opened the economy, don't you look at mega wheat scandal in Punjab,they have already minted 100s of billions,must have shifted kickbacks abroad 😅,Sindh is buying @ announced rate of 4000/ ,also paying the same without hue and cry but look at Punjab 😅😂 the very serious wilful damage done to Agriculture and economy of Punjab/Pakistan ,so very hard to recover.you better shelve your podcasts for a while and work on this? will you? Or you have also decided 🤪 not to change 😅?
You know what ? , you are SO SO FULL OF URSELF
For Allah sake stop giving examples of India and drawing false equivalence with India . All Pakistanis thinks that India has done good in some sectors so they can do like in IT , Pharmaceutical , Auto Industry , Digital economy , Telecom revolution , Fintec , Services sector etc etc . Forgetting that India is highly qualified , educated society .
He is too pessimist. There is no solution in his speech. He is old and outdated.
Buy more fighter jets😅😅 next go for aircraft carrier 6 billion dollars 😅😅
@@balajib1406 Prophet (PBUH) used to observe fasting because of scarcity however thee would be 7 swords on the wall. Jihad is key aspect of Pakistan. We must buy fighter planes even if all have to starve.