EAG Calls for Holding the Policy Rate
EAG Calls for Holding the Policy Rate The Monetary Policy Committee (MPC) of the State Bank of Pakistan (SBP) has its next regularly scheduled meeting
March 18, 2024
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STICK-IN-THE-MUD: WHY PAKISTAN IS FALLING BEHIND?
Why is Pakistan falling behind? What is the role of dismal labour productivity growth in hindering meaningful transformation? Can overallocation of resources in some sectors at the expense of others due to political economy reasons explain Pakistan’s poor economic performance? This report attempts to answers these questions through the lens of structural transformation
The report starts with documenting the phenomenon of missing structural transformation in the case of Pakistan. Specifically, unlike regional peers, agriculture’s share in both total employment and value added has decreased by significantly less over the past several decades. Moreover, changes in the composition of both the export and the import baskets also point to limited economic transformation. We also find that the limited transformation Pakistan has undergone has been towards sectors with low productivity growth thus undermining the country’s future growth prospects. One of the key reasons behind the lack of transformation is that labour productivity in both the overall economy and the agriculture sector has increased by the least in the case of Pakistan relative to the regional economies. As a result, unlike in most other countries, there is limited incentive for labour to move from agriculture to non agricultural sector.
Glimpses of our latest event
New Vision for Economic Transformation
Rethinking Resource Allocation and Productive Structure
This document presents a vision for economic transformation, with a focus on understanding key factors which have prevented this from happening in the case of Pakistan. It draws from the experience of other emerging economies and leading economic research on how countries have successfully transformed their economies by letting their productive structures adapt and evolve over time. In this respect, the current document is a significant departure from the traditional focus on achieving growth by reinforcing existing structures of the economy. While such traditional approaches did deliver many episodes of growth spurts, these always proved to be short lived, often leading to the build-up of large imbalances and, ultimately, crises.
Media Release
SIFC: A wrong step at times of worsening investment climate
SIFC: A wrong step at times of worsening investment climate In their handbook chapter on what explains a country’s comparative advantage, Nathan Nunn and Daniel
August 18, 2023
April 6, 2023
EAG questions SBP’s performance
EAG questions SBP’s performance The Economic Advisory Group (EAG) has expressed serious concerns regarding the inadequate response from the State Bank of Pakistan (SBP) in
January 30, 2023
INSTITUTIONS FOR GROWTH:
A ROADMAP FOR PAKISTANI REFORMS
The brief builds on the Economic Advisory Group (EAG)’s Vision Document by laying out the key public institutions and reforms that needs to be undertaken in service of enhancing the country’s international competitiveness and productivity through better, market-based resource allocations.
It argues that internal security, property rights, and contracts enforcement through a reliable policing and court system are essential building efficiency-enhancing markets. In addition, the country needs to enhance subnational governance by devolving revenue mobilization and creating a more competitive bureaucracy. Finally, Pakistan….
Economic Advisory Group (EAG)
The Economic Advisory Group is an independent platform of individuals drawn from economics, policy and the private sector. The EAG deliberates on Pakistan’s economic policies regularly and shares its views with the public and government. It was formed in January 2021, under the auspices of PRIME Institute, an independent think tank, which serves as its secretariat.
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Executive Members
Dr. Ahmed Jamal Pirzada
Ali Salman
Syed Javed Hassan
Muhammad Ashraf Khan
Najma Pirzada
Dr. Aadil Nakhoda
Samir Ahmed
Mueen Batlay
Dr. Vaqar Ahmed
Dr. Ali Hasanain
Maheen Rahman
Dr Sajid Amin Javed
Member
Saihan Mohammad
Members Profile
Syed Javed Hassan, CHAIRMAN EAG/NAVTTC:
Javed held senior investment banking positions in London and Hong Kong before returning to Pakistan.
In Pakistan, he was CEO IGI Insurance. He writes regularly for the Arab News.
Ali Salman FOUNDER and Executive Director PRIME:
Ali is an economist, and has worked for government, multilateral agencies and the private
sector. He has served as CEO of a leading Malaysian think tank, IDEAS. Ali is author of “Islam and Economics: A Primer on Markets, Morals and
Justice”.
Dr. Aadil Nakhoda ASSISTANT PROFESSOR, INSTITUTE OF BUSINESS ADMINISTRATION, KARACHI:
Aadil is a research fellow at CBER, IBA. He holds a
PhD in international economics from the University of California, Santa Cruz.
Muhammad Ashraf Khan, FORMER FEDERAL SECRETARY:
Ashraf has served mostly in economic ministries. After his retirement in 2011, he carried
out a study on tariff rationalization of Pakistan for the International Growth Centre, London.
Najma Pirzada MANAGING EDITOR & CEO OF GLOBAL VILLAGE SPACE PUBLICATIONS PVT. LTD
Whilst also managing her consultancy, Governance
& Policy Advisors, Najma has worked on regional peace-building through trade and tourism.
Dr. Shazia Ghani TEAM LEAD, PM SPECIAL INITIATIVES CELL:
Shazia works on the Prime Minister’s priority initiatives in CPEC, FDI and Strategic
Reforms. She is research associate for Grenoble Centre of Economics Research, Grenoble, France.
Dr. Ahmed Jamal Pirzada ASSISTANT PROFESSOR, UNIVERSITY OF BRISTOL UK:
Ahmed is an Assistant Professor at the University of Bristol UK. His
research interest revolves around understanding firms' price decisions.
Samir Ahmed, CEO, KNIGHTSBRIDGE CAPITAL GROUP
Samir has more than 30 years of diversified experience in the financial sector, spanning
investment banking, commercial banking, and capital markets.
Mueen Batlay DIRECTOR, HAMDARD INSTITUTE OF MANAGEMENT SCIENCES, CEO Think Scale Build (Pvt) Ltd
Mueen has been an investment
banker, launched a fintech startup, worked at the World Bank on capital markets and privatisation, and with government on antitrust and investment.
Dr. Vaqar Ahmed JOINT EXECUTIVE DIRECTOR, SDPI
Earlier, Vaqar has served UNDP as Advisor, and has undertaken assignments with Asian
Development Bank, the World Bank, and Ministries of Finance.
Dr. Salamat Ali Commonwealth Secretariat, UK
Salamat is a trade economist with specialization in trade policy analysis. He holds a PhD in
International Trade from the University of Nottingham.
Maheen Rahman CEO, Infra Zamin Pakistan
Infra Zamin is an initiative by the Private Infrastructure Development Group (PIDG), InfraCo Asia,
Guarantco and Karandaaz Group Company.
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