What are key economic measures for pakistan's growth and development?

What are key economic measures for pakistan's growth and development?

What are key economic measures for pakistan's growth and development? The developed and under developed nations have the challenges to meet .

Pakistan is most blessed country with all the natural resources and talents.What we are lacking is the direction to lead us by true and sincere leadership to tread our path to real development and growth.

Since decades, we can see a changed society and development apparently in our living standards enjoying all the modernity but at the cost of expensive loans from donor countries and agencies.

Few people are rich enough and amassed huge wealth but the government and people in general are poor enough to feed their families.

All depends upon complete economic transformation and hard measures declaring economic emergency to bring the desired growth and development in all sectors of economy enabling Pakistan to emerge as standalone in the comity of nations with pride.These are as follows:

Tax reformation and expansion to increase the number of tax payees and create awareness for tax culture. 

Import substitution should be encouraged to save precious foreign exchange.

Local manufacturing be promoted through various infrastructure provisioning.

Establishment of raw material manfacturing industry should be encouraged to cut down our dependence on imports of raw material needed for capital industry.

Foreign investment should be encouraged through public private enterpreneurship.

Foriegn remittances from pakistani expatriates should be channelised for productive investment rather than supporting the budget deficit.

Dependence on foreign expensive loans should be minimised.

The extravagant expenses on the government and public level should be controlled.

Pakistan being an agricultural land with four seasons have lot of potential to increase agricultural productivity and to strengthen its packaging and marketing. So agricultural reforms and subsidies are needed to support the farmers’ community rather than their exploitation .This could bring green revolution and improve our GDP through its contribution.

So in short these are the measures which can transform pakistan into a rapidly developing economy.But all this need commitment, sincerety and truthfulness on the part of leader, who can be trusted by the people and be followed.

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