The Institute of Business Administration’s (IBA) School of Economics & Social Sciences (SESS), in collaboration with the Center for Business and Economic Research (CBER), has launched its report ‘The State of Pakistan’s Economy 2024-25’, focused on exploring strategies for unlocking the nation’s economic potential.
The report, titled Tapping the Economic Potential: Strategies for Productivity and Growth, was authored by faculty members and students from IBA’s Department of Economics, edited by Professor Dr. Heman Das Lohano, and Professor and Director of IBA-CBER, Dr. LubnaNaz.
The comprehensive report examines Pakistan’s major economic sectors, proposing actionable strategies for sustainable development and long-term prosperity. It addresses persistent challenges such as inflation, low economic growth, and energy shortages, while also highlighting the nation’s vast resources, strategic location, and young population as key strengths. The report is seen as a crucial resource for students, policymakers, and anyone with an interest in economic reform and development. During the launch event, prominent economists and experts, including Dr. Farooq Pasha, Dr. ShereenNarejo, and Dr. Mahmood Khalid, discussed the findings and provided critical insights into Pakistan’s economic landscape. The session, moderated by Dr. Lohano, opened with a focus on the importance of addressing both short-term obstacles and long-term structural reforms to unlock the full potential of Pakistan’s economy.
Dr. Mahmood Khalid called for a more rational and consistent tax policy from the Federal Board of Revenue (FBR), emphasizing that the current system is overly complex, particularly for wholesalers and retailers. He pointed out that the high cost of compliance discourages businesses from entering the formal tax net, limiting revenue growth. Dr. ShereenNarejo highlighted the urgent need for job creation, stressing that unemployment has surged, particularly after the COVID-19 pandemic.
She noted that the home-based economy, valued at approximately $453 billion, presents significant untapped potential. She also discussed the opportunities in waste management, explaining that banana waste alone can yield five different valuable products, illustrating the country’s untapped economic potential in this sector. The launch event included a lively Q&A session where attendees posed questions to the panelists, seeking clarity on the recommended economic strategies. The event concluded with a ceremony where Dean of SESS, Dr. AsmaHyder, alongside Professor Dr. Muhammad Nasir and Visiting Faculty member Dr. Syed Jaffar Ahmed, presented mementos to the panelists as a token of appreciation for their contributions.
