Imperatives For Economic Development Of Pakistan

Shawzya Ikbal

Fortunately or unfortunately, I work for a government that believes what I have written. The Ontario Government has taken steps to improve the effectiveness of the government while at the same time shrinking the overall size of it.

Infact, the government has recently put up a bill that would penalize financially the members of the parliment if they do not continue to balance the books (not run deficits).

It is accountability at all levels of the government.

Excellent Article. Although I cannot find anything wrong with this article, I would like to point out that governments all over the world are facing similar problems of waste. They are trying to get over this problem with institutionalizing the concept of value-for-money audit and creating core business strategies.

This means two things:

2) while all government entities may not be privatized, those that are not core business should be; and

1) whether the government core business can be delivered cost effectively or should be administered by the private sector.

Finally, deregulating by itself should not be done in isolation. As we saw when private banking was approved, the rules surrounding the grant of licences was not completely thought through. This meant that we had a failure and the government had to step in (NBP took over Mehran). In the developed countries the private banks become members of a central deposit insurance corporation and thus regulate the industry.

Pakistan tried deregulating the Gold import and wound up by awarding the licence to only one dealer.

Deregulation sounds nice but its implementation has to be put into perspective.