Macro-economic stability to strengthen Pakistan

STAFF REPORT LHR: Former Governor State Bank of Pakistan Dr. Ishrat Hussain has said that macro-economic stability and a favourable policy environment is likely to lead the country towards economic growth.

He said this while speaking on the first day of the XIth Conference on the Management of the Pakistan Economy hosted by the Lahore School of Economics.

The keynote address was given by Dr.Robert Wade (Professor, London School of Economics).

He stated that before 1980s it was widely understood that development meant rising overall “prosperity” and that heavy investment in infrastructure and in industry were key drivers.

Dr. Ishrat emphasized the importance of Pakistan as a regional manufacturing hub and how industrial policy can cater to all vital sectors.

Dr. Inayat Mangla (Professor, Western Michigan University), analyzed the impact of macroeconomic environment on Pakistans manufacturing sector emphasizing in particular the role of monetary and fiscal policies in shaping incentives for industrial investment.

Dr. Hafiz Pasha (Prof. Emeritus, LSE) discussed the implications of varying incidence of taxes and subsidies on industries.

Dr. Azam Ch. (Prof. LSE) looked at how the establishment of different types of firms across the districts of Punjab has impacted district level socio-economic outcomes in Punjab.

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