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Pakistan Has Many ’Positives’ to Achieve Rapid Growth: WB
Source: http://www.brecorder.com/
Source Date: Monday, January 13, 2014
Focus: ICT for MDGs
Country: Pakistan
Created: Jan 14, 2014

Pakistan has many "positives" to achieve rapid growth and these positives include the legitimacy of its institutions, capacity to implement national projects, growth in remittances, natural resource base, potential in food production and mining, its strategic location, and the rapid growth of women in the labour force.

"These positives can help reinvigorate the economy", the World Bank's Country Economic Memorandum (CEM) said.

In recent years, the World Bank had the honor and privilege of welcoming incoming administrations with a series of diagnostics studies and policy choices.

Continuing this practice, the World Bank has put together a Country Economic Memorandum (CEM) and a series of 16 sector-specific Policy Notes for the incoming governments.

Whereas the CEM focuses on conditions for growth acceleration and jobs creation, the Policy Notes are wide-ranging, and look at issues from improving inclusion and human development, enhancing economic growth and providing jobs, and improving governance and accountability.

This effort, the CEM said was meant to facilitate a broad understanding of key topics and support a creative dialogue around menus of policy options, while being informative in the spirit of knowledge-exchange.

Ultimately, both publications aim to help the incoming governments achieve their ambitious economic and social goals along with the Bank's mission of fighting poverty and achieving shared prosperity.

The Bank added that accelerated economic growth in Pakistan has been possible in the past, and it can be again.

Pakistan's economy, it said has shown it can be very resilient in preserving growth and poverty reduction despite civil conflicts, natural disasters, and complex political transitions.

In such regard, the CEM and Policy notes have three main messages: and these are Pakistan must aim to achieve higher growth linked to more and better jobs - especially among women and youth, Pakistan must strive for inclusion and improving human capital as a cornerstone of rebuilding productivity and Pakistan can sustain its growth, jobs, and inclusion agenda only by enhancing governance and accountability.

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