ISLAMABAD (APP) - Experts at a policy consultation have called for an integrated economic governance framework to help Pakistan break free from recurring cycles of economic instability, emphasising that sustained growth would only be possible through policy coherence, institutional coordination and long-term reforms.
The consultation on “Pakistan’s Reform Agenda for Integrated Economic Governance,” was jointly organised by Sustainable Development Policy Institute (SDPI) and Friedrich-Ebert-Stiftung (FES) here on Monday.
In his opening remarks, Dr Sajid Amin Javed, SDPI Deputy Executive Director (Research), said Pakistan has repeatedly achieved short-term macroeconomic stabilization but has failed to sustain it.
“Almost every third fiscal cycle, Pakistan achieves stabilization but subsequently loses it,” he said, adding that the consultation aimed to identify policy interventions capable of ensuring consistent and sustainable economic growth.
Dr Aliya Hashmi, Senior Economist and academician, emphasized the need for clearly defined national growth targets supported by a comprehensive reform agenda, implementation framework and effective monitoring and evaluation mechanisms.
She said Pakistan must prioritize the creation of productive employment opportunities for its rapidly growing youth population, warning that improvements in GDP figures alone would not deliver meaningful development without quality job creation.
Dr Hashmi also stressed the importance of increasing women’s participation in the labour force, noting that greater female employment had contributed to lower fertility rates and stronger economic outcomes in several regional countries, including India.
Meanwhile, Dr. Muhammad Ali Talpur, Joint Chief Economist at the Ministry of Planning, identified political instability, weak policy coordination and lack of continuity as major obstacles to effective economic governance.
Endorsing SDPI’s diagnosis of Pakistan’s economic challenges, he said the government had already identified key governance weaknesses and initiated 142 policy actions across 58 departments to address them. He said significant reforms had already been undertaken, including separating tax policy from tax administration within the Federal Board of Revenue (FBR), reflecting the government’s recognition of structural weaknesses.
Dr Talpur noted that Pakistan continued to struggle with persistent internal and external deficits, which had constrained economic policymaking for decades.
He stressed that future reforms should focus on investing in human capital, boosting exports through deregulation and tariff rationalization, and enhancing export competitiveness.
He added that the National Economic Council, as the country’s highest planning forum with representation from both federal and provincial governments, was well positioned to promote coordinated national development planning and strengthen integrated economic governance.