The Centre for Strategic Perspectives (CSP) at the Institute of Strategic Studies Islamabad (ISSI) held a launch of its Special Report titled, “Economic Security of Pakistan: Challenges and Way Forward”.
The Chief Guest of the event was Dr. Aisha Ghaus Pasha, Minister of State for Finance and Revenue. Other panellists included: Dr. Abid Q. Suleri, Executive Director, SDPI; Ambassador Seema Ilahi Baloch; Mr. Zafar ul Hasan, Joint Chief Economist, Ministry of Planning, Development and Reforms; and Mr. Amir Zafar Durrani, President, Reenergia. Ambassador Aizaz Ahmad Chaudhary, DG ISSI, welcomed the speakers and shared the idea behind launching the report.
In his remarks Ambassador Chaudhary stated that national security should be measured on a tripod of economic security, human security, and traditional security and the primacy given to Pakistan‘s economic security in the overall national security calculus is a step in the right direction.
In her introductory remarks, Dr. Neelum Nigar, Director of CSP highlighted the importance of economic security in Pakistan. Dr. Nigar gave an overview of the report and elucidated its key outcomes. She proposed that macroeconomics needs to shift from stabilization to sustainability, from consumption to investment, from imports to exports, and from service sector to industrial. The Chief Guest, Dr. Aisha G. Pasha, stated that currently there is no imminent threat of default as the government has secured external financial needs for the year 2023.
She also emphasized the need of structural reforms of permanent nature with the consensus of all stakeholders. She proposed increasing tax compliance and implementation of right taxation policy to achieve long-term sustainable economic growth.
Dr. Pasha also stated that the recommendations and structural reforms highlighted in the report are very important and must be implemented to ensure overall economic security of Pakistan.