Framework for Economic Growth, Pakistan - Planning Commission

International conference on “Framework for Economic Growth, Pakistan”CONCLUSIONCONCLUSION AND RECOMMENDATIONSThe Framework for Economic Growth (FEG) was based on widespread local andinternational consultations for developing strong local ownership for the strategy. TheFEG is well informed by the best knowledge and analysis available locally andinternationally. International conference on FEG for Pakistan has served as one of theeffective tools for the Planning Commission to share national and international collectivewisdom for devising an implementation plan for the future.The Conference brought together around 500 delegates including parliamentarians,international experts, federal and provincial policy makers, economists, developmentsector leaders, academia, business community and officials from UN agencies fromacross Pakistan who shared their ideas and helped Planning Commission to fine tune thestrategy. The conference was a remarkable experience where national and internationalexperts critically analyzed the document and endorsed the ideas. The conference alsohelped Planning Commission to prioritize most critical areas for the future growth anddevelop key performance indicators (KPIs) to monitor implementation process.Experience shared by the representatives of other countries has also helped the PlanningCommission to develop future roadmap and devise a mechanism to make the consultativeprocess continuing and inclusive.The strategy emphasized the need to improve, inter alia, the following:- Public service delivery based on sustained institutional reforms that build efficientand knowledgeable governance structures,- Improving the quality of governance through Civil Services Reforms,- Minimizing the role of the government in the economy and restricting it to improvingregulation and policy environment,- The need to reduce economic distortions,- Human resource development as one of the major objectives of the new approach,- Investing in youth and harnessing their potential,- Energizing youth; engaging communities and inducing investment in human andsocial capital,- Investing in tertiary education, vocational and technical training and development of aknowledge economy,- Investing in promoting entrepreneurship,- Enhancing physical and human connectivity,- Improving the investment climate and reducing cost of doing business,- Functioning of domestic markets; create space for the private sector;- Making cities hubs of economic activities by relaxing zoning and buildingregulations,128