By Shaheen Hashim
KARACHI: Former finance minister Miftah Ismail warned that Pakistan remains trapped in an economic cycle due to deep-rooted governance issues. Speaking at the Karachi Literature Festival, he stressed that eliminating terrorism is essential to creating an environment conducive to growth.
The session, titled “Fixing the Fundamentals: Pakistan’s Economic Reform”, brought together policymakers, economists and business leaders to discuss the country’s economic challenges and the urgent need for structural reform. Moderated by former investment minister Muhammad Azfar Ahsan, the discussion included Miftah Ismail, Dr Ishrat Husain, Asad Umar, Muhammad Ali, and Dr Zeelaf Munir.
Adviser to the Prime Minister on Privatization, Ali, said reform must start at the structural level, including documenting the economy to strengthen the tax system. He called for reducing the government’s role in commercial activity, boosting exports, increasing women’s workforce participation, and empowering local governments to improve service delivery and governance.
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