Latest news with #MishalPakistan
Express Tribune
16-02-2025
- Business
- Express Tribune
Empty promises or real change?
Listen to article ISLAMABAD: The term "reforms" has been so misattributed and misused in Pakistan that any mention of reform sounds like an empty promise without any genuine strategy for change. A new report titled Pakistan Reforms Report (PRR) 2025 has been published recently. The report, published by Mishal Pakistan, applauds the government for instituting "more than 100 reforms" in 2024, citing a number that raises more questions than it answers. Furthermore, a closer look at the report suggests that most of these reforms are wrongly termed as such because they are either a mere continuation of previous plans or solely steps taken to track previous programs. Surprisingly, the report mentions that the government privatised seven loss-making State-Owned Enterprises (SOEs) in January 2025. While the names of those SOEs are not provided, this claim alone seriously weakens the credibility and authenticity of the report. While the case of the privatisation of Pakistan International Airlines (PIA) is no mystery to anyone, it is clear that the current government has not completed any privatisation transaction. The last successful transaction was closed in February 2024. While the government is not hiring employees for vacant seats and has abolished 150,000 vacant positions to cut anticipated government expenditures (if these positions were to be filled), commercial SOEs are still functional and are incurring billions of rupees in losses to the country. Most SOEs, including those in the transport and energy sectors, continue to suffer from financial burdens and management inefficiencies. Thus, it is essential to verify whether any liquidation or restructuring of these SOEs has taken place. The World Economic Forum, for which Mishal serves as a country partner, publishes the Global Competitiveness Report, evaluating economies based on 12 key pillars, including innovation, business environment, efficiency of the labour market, and financial system of the country. One would expect the section on the economic competitiveness of Pakistan to provide an analysis based on global rankings, focusing on ease of doing business, productivity, innovation, and economic efficiency. However, the section largely applauds the Special Investment Facilitation Council (SIFC) for its role in supporting economic recovery. While SIFC's efforts in attracting investment and addressing governance bottlenecks are debatable, the report lacks any reference to actual competitiveness indicators, making it more of a political endorsement rather than an analytical assessment. According to the latest Global Competitiveness Report, Pakistan ranks 110 out of 140 countries, underlining the fact that the country is far from being a globally competitive nation. This ranking indicates persistent barriers in innovation, regulatory inefficiencies, and weak infrastructure. While the government touts progress in ease of doing business, the reality is that Pakistan still faces systemic challenges in fostering a business-friendly environment, reducing red tape, and encouraging advanced technological adoption. Without structural reforms in key areas such as tax policy for businesses, research and development, and institutional efficiency, Pakistan's competitiveness is not expected to make a stark shift in the rankings. On the fiscal management front, the Pakistan Reforms Report highlights that pension reforms could potentially save Rs1.7 trillion over the next decade through the contribution fund scheme introduced in 2024. However, this scheme applies only to new entrants in government services, meaning its impact on reducing pension expenditures will take considerable time. Meanwhile, pension expenditure for existing beneficiaries in FY24 alone stood at Rs1.2 trillion, and with a 15% increase announced in the FY24-25 budget, the financial burden remains substantial. Pakistan can look to successful pension reform models in countries like Chile and India, which have implemented structured transitions to reduce long-term liabilities. On the fiscal side, the most significant reform area pertains to tax policy rates and the complexity of the tax system. The report, as well as the Economic Transformation Agenda, remains silent on this issue. While technology can help, in the absence of real policy reforms, it cannot fix the deep-rooted problems. While the country is at a crossroadsas alwaysand is in dire need of actual economic and governance reforms, it is important that only implemented reforms are recognised as such. Announcing policies and making administrative changes don't constitute actual reforms unless concrete execution and measurable outcomes are produced. The Pakistan Reforms Report highlights several initiatives taken by the Pakistan Muslim League-Nawaz (PML-N) government, some of which are potentially viable and can pave the way for long-term progress. Some of these reported reforms should be acknowledgedsuch as allowing Pakistani IT companies to retain foreign exchange earnings in dollars. Most of them, however, should not even be called reforms. For example, the creation of new regulatory authorities cannot be classified as reforms. Also, enforcement of limitations on government-sponsored trips cannot be considered a reform, though it can be appreciated as a step to reduce public spending. As a rule, policy debate should be based on quantifiable and achievable actions rather than aspirational claims, or else political claims in the long term can lose their essence and trust. The future of the country depends not merely on announcing reforms but on real, transformative actions that bring structural changes and unleash sources of economic prosperity for our people. THE WRITERS ARE AFFILIATED WITH PRIME, AN INDEPENDENT ECONOMIC POLICY THINK TANK BASED IN ISLAMABAD
Express Tribune
09-02-2025
- Business
- Express Tribune
Report highlights govt's unprecedented reforms
Listen to article ISLAMABAD: Pakistan was undergoing an extraordinary transformation through a sweeping set of reforms introduced by the government in 2024, said a report issued by a country partner institute associated with the World Economic Forum (WEF) on Sunday. Mishal Pakistan, the country partner institute of the New Economic and Societies Platform of the WEF, said in the report that the pace and scope of these changes are unprecedented as more than 100 reforms were implemented within a span of a year. "Over the past 11 months, more than 120 reforms have been implemented across multiple sectors, shaping the country's governance, economic policies, legal frameworks, and institutional efficiencies," the report stated. The Pakistan Reforms Report 2025 offers a full-year assessment, presenting a more accurate and holistic picture of governance, accountability, and inclusivity reforms. It is the first comprehensive effort to systematically document the government's reform agenda. This initiative is crucial in providing an accurate and transparent account of policy transformations, allowing stakeholders – including policymakers, businesses, and international institutions – to engage with and evaluate Pakistan's evolving governance landscape. "The Pakistan Reforms Report 2025 is an unprecedented initiative aimed at bridging the knowledge gap in governance reforms," Amir Jahangir, Chief Executive Officer of Mishal Pakistan, said, while speaking at the launch of the report. (WITH INPUT FROM APP)
Associated Press
09-02-2025
- Business
- Associated Press
Mishal (WEF country partner) launches Pakistan Reforms Report 2025
ISLAMABAD, Pakistan , Feb. 9, 2025 /PRNewswire/ -- Mishal Pakistan, the Country Partner Institute of the World Economic Forum's New Economic and Societies Platform, has officially launched the first-ever Pakistan Reforms Report 2025. This groundbreaking report is a first-of-its-kind initiative documenting over 120 key reforms undertaken by the Shahbaz Sharif Government since assuming office in March 2024. Covering a comprehensive assessment period from January 2024 to the end of January 2025, the report provides an unprecedented, data-driven analysis of the government's policy and governance transformations. For the first time in Pakistan, a comprehensive effort has been made to systematically document the government's reform agenda. Over the past 11 months, more than 120+ reforms have been implemented across multiple sectors, shaping the country's governance, economic policies, legal frameworks, and institutional efficiencies. This initiative is crucial in providing an accurate and transparent account of policy transformations, allowing stakeholders - including policymakers, businesses, and international institutions - to engage with and evaluate Pakistan's evolving governance landscape. By bridging the information gap, the Pakistan Reforms Report 2025 ensures that reforms are acknowledged, analysed, and serve as a foundation for future governance advancements. Unlike most international reports that capture data only from January to May every year, the Pakistan Reforms Report 2025 offers a full-year assessment, presenting a more accurate and holistic picture of governance, accountability, and inclusivity reforms. Speaking at the launch of the Pakistan Reforms Report 2025, Amir Jahangir, Chief Executive Officer of Mishal Pakistan, the Country Partner Institute of the World Economic Forum, highlighted the significance of the report and said, 'The Pakistan Reforms Report 2025 is an unprecedented initiative aimed at bridging the knowledge gap in governance reforms. While international assessments often focus on fragmented data, this report presents a full-spectrum analysis of how Pakistan has transformed under the Shahbaz Sharif administration.' He further said, 'By documenting reforms in a structured and accessible manner, we empower policymakers, businesses, and global institutions with the knowledge needed to engage with Pakistan's evolving governance landscape.' The Pakistan Reforms Report 2025 is an essential resource for policymakers, investors, academics, and development organizations seeking to understand Pakistan's evolving governance framework. Through extensive research, data collection, and stakeholder engagement, the report provides a structured, transparent, and comprehensive overview of the government's performance in key areas. Mishal Pakistan is an award-winning business intelligence, public policy, and strategic communications institution. As the Country Partner Institute of the World Economic Forum (WEF), Mishal Pakistan contributes to several global competitiveness indices, including the Global Competitiveness Report, Global Growth Index, Global Gender Gap Index, Global Travel and Tourism Development Report, and the Network Readiness Index. The organization has been at the forefront of media development, governance innovation, and digital transformation in Pakistan.
