Pakistan’s economic model is dysfunctional, lagging behind neighboring countries, benefits of economic development are limited to elites, World Bank
Economic development in Pakistan is not sustainable, there was a significant reduction in poverty in the past, which is now increasing again
In Pakistan, the system, cost of debt and sources of income are not sustainable, spending on people and infrastructure development is limited
Pakistan is under the influence of environmental changes, the defects of agricultural and energy sectors should be removed, the focus of energy reform should be financial stability.
Pakistan has an opportunity to become one for a bright future, World Bank Country Director Naji bin Hussain
ISLAMABAD ( Web News )
The World Bank has declared Pakistan’s economic model ineffective and said that economic development in Pakistan is not sustainable, the benefits of economic development are limited to the elite, Pakistan has lagged behind its neighboring countries, Pakistan is vulnerable to climate change. Under attack, deficiencies in agriculture and energy sectors should be addressed. World Bank Country Director Naji bin Hussain said that Pakistan’s economic model has become dysfunctional, there was a significant reduction in poverty in the past, which is now increasing, while the benefits of economic development are limited to the elite. The country director said that the economic development in Pakistan is not sustainable, its economic development is limited and benefiting limited people, Pakistan is lagging behind its neighboring countries, the thinking is growing that it is necessary to change the policy. Naji bin Hussain said that Pakistan is under the influence of environmental changes, the defects of the agricultural and energy sectors should be removed, the focus of energy reform should be financial stability, better distribution, private sector and instead of expensive, alternative electricity should be focused on. There seems to be consensus on the idea of change, while experience suggests that reforms are blocked. The World Bank Country Director added that Pakistan has an opportunity to become one for a bright future. In Pakistan, the system, cost of debt and sources of income are not sustainable, spending on people and infrastructure development is limited, government spending also needs to be reformed. Need, free economy and growth will improve quality of life, business environment especially small businesses need better environment.