Five engines stimulate Pakistan’s economic growth potential

According to Pakistan’s “Express Forum” report on December 23: To stimulate Pakistan’s economic growth potential, in addition to giving full play to its location advantages, Pakistan’s human resources, especially the large number of young people, is also an important development driver. . To achieve a growth rate of 7% in the future, we should focus on the following five aspects: First, develop high-density comprehensive urban entities and enhance the government’s comprehensive management capabilities for modern cities. Promote enterprise development, drive investment and employment, attract high-end talents, make good use of intellectual resources, and stimulate urban vitality. The second is to integrate into the global value chain. Improve customs clearance facilitation and enhance the world’s understanding of Pakistan. Increase reforms in the tariff field and change the current tariff system that targets import substitution and foreign exchange settlement. Develop the export of high value-added products such as polyester fiber and upgrade the export quality of cotton textile products. The third is to speed up the reform of the tax system. Improve government expenditure efficiency, rationalize the tax system, reduce unreasonable tax burdens, and increase the proportion of investment in GDP. The fourth is to increase delegation of power and authorization. Improve the level of government governance and establish a scientific performance evaluation mechanism. The fifth is to increase investment in science and technology. Encourage innovation and give full play to the positive role of research and development in promoting economic, technological and social development.