Is Economic Policy Being Dictated by Politics?
The higher 5.7 percent growth rate for 2020-21 will make it more difficult for Finance Minister Shaukat Tarin and his staff to persuade the public of their success by the conclusion of the current fiscal year, especially if the GDP rate falls sharply.
Some economists and development partners are already forecasting a reduced growth rate, which could be even lower after the rebasing. The influence of a greater growth rate on investment is debatable among experts. The ruling party, they believe, will not gain much political capital from the exercise.
Business circles either don't comprehend national accounting practices or are hesitant to voice their opinions in public, preferring to focus on the future and how the government plans to reassure and quiet their fears.
"More than anything, sudden and abrupt policy changes erode company confidence." The removal of tax advantages, amnesties, concessions, and duty adjustments shook the ground beneath our feet and threw our plans into disarray. Instead of concentrating on our core operations, we have become preoccupied with the government's mood and actions.
"It will not be the government, but the private sector, that will provide Pakistan's future by investing, extending the economy's base, and creating jobs." For trouble-free transactions, we need assurances on policy stability and improvements in the business environment. We don't care about some academic data exercises or their historical significance," an unnamed business magnate said off the record, sarcastically referring to recent IMF-imposed measures.
RESOURCES:
| https://addandclick.com/read-blog/40464_what-are-supply-chain-risks-and-how-to-mitigate-them.html https://articlesmaker.com/how-artificial-intelligence-helps-in-warehouse-management/ https://tchatche.ci/read-blog/18915 |
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