By IANS,
Islamabad : Pakistan’s strategy for achieving higher growth has come in for criticism from experts.
Participants at a consultation on economic growth Thursday in Peshawar expressed doubts on the strategy, reported Dawn.
Nadeemul Haq, deputy chairman Planning Commission, in a pre-recorded video, said a number of governance issues were hampering economic progress.
The existing growth strategy was flawed, he said and added that the country had built ample infrastructure, but failed to use it wisely.
“As a country we have forgotten about economic growth,” Haq was quoted as saying.
He said the economy needs to grow at a rate of 7 percent for 20 consecutive years to become a part of the medium-rich countries.
The country needed to create new jobs every year because a big proportion of the population comprised the youth, he added.
On market reforms, panelist Jehanzeb Manan noted the government was competing with and displacing the private sector.
He pointed out: “Our government is everywhere, in the banks, airlines, etc. it needs to come out of it.”