Framework for Economic Growth, Pakistan - Planning Commission

International conference on “Framework for Economic Growth, Pakistan”dynamic capital markets in the country.Inclusiveness also means sustainability, andresponsiveness to the environmental issuessuch as sensitivity to climate change. Weneed to manage our renewable and nonrenewableresources. We can’t use oilresources to finance management of thecountry. Economic transformation programneeds to be focused. One of the importantprogrammes is focusing all the sectorswhere we have strength. Second importantprogramme is the cross cutting foundation ofissues which were divided into followingcategories:1. Creating a competitive investmentenvironment:• International standards &liberalization,• Government’s role in business, and• Enhancing the sources of growth.2. Developing quality workforce:• Human capital development.3. Transforming government:• Public service delivery, and• Public finance reform.4. Narrowing disparities:• Regional, ethnic and income levels.Some of the key policy measures are furtherexplained below:1. Public Finance:• Improve tax administration,• Rationalize corporate tax incentives,• Transparent procurement,• Control Expenditure,• Broad based Tax, and• Accrual accounting.2. Public service delivery.3. Human Capital Development:• Modernize labor laws,• Labor safety net,• Women’s Talent,• Strengthen HR Management,• Labor market analysis, and• Up skilling & re-skilling4. Government’s role in business:• Reduce crowding out privatesector- Divestment of GovernmentLinked Companies (GLCs)• Increase liquidity in capital markets- Pare-down & listing ofgovernment’s stake in companies• Improve governance for state-ownedcompanies- Anchored on performance.- Replicate the success ofKhazanah’s Putrajaya Committee onGLC high performance.5. International standards & liberalization:• Competition law - encouragecompetitiveness.- Implement Competition law by2012.• Liberalization: Healthcare, educationand business services.• Standards: Adopt internationalstandards, develop Malaysianstandards and raise Malaysianstandards as the benchmark.6. Narrowing disparities:• Improve social services andinfrastructure to all regions,• Improving capacity of the bottom40% of households,• Improving capacity of SMEs:- Entry point with 1,100 companies.- High Performance BumiputraScheme.- Performance based with clear entryand exit criteria.Until we work with all the sectors andpropose to the government that we work on23