1. Beyond CPEC: An Agenda for Competitiveness & Structural Reforms in Pakistan
Greatful to Dr. Zeeshan, honor to present at KSBL,

2. Pakistan's Agenda for Economic Reforms - Oxford University Press
Background
CPEC provides a new narrative for Pakistan’s economy
However, the infrastructure endowments under CPEC are not new
American’s gave us these endowments in the 1950s and 60s
Public infrastructure during 1970s-90s was weakly managed along with lack of accountability
Key argument is that we do not use assets optimally for the growth of our private sector and regional trade integration. 2
Pakistan's Agenda for Economic Reforms - Oxford University Press

3. Pakistan's Agenda for Economic Reforms - Oxford University Press
Background-II
Thinking beyond CPEC: The dividends from infrastructure development under China-Pakistan Economic Corridor program will remain unrealized if
Pakistan does not move towards expediting macro-level reforms that reduce cost of doing business for private enterprise
These (dividends) are not offered to neighbors through reduced costs of trade & investment.
Need for structural reforms: Some pending structural reforms in the areas of economic governance, trade competitiveness and energy are the key to growth and sustainability of private enterprises in Pakistan. 3
Pakistan's Agenda for Economic Reforms - Oxford University Press

4. Pakistan's Agenda for Economic Reforms - Oxford University Press
Growth & Governance
First, weak rule of law hampers long term economic growth prospects
Second, delays in legal and judicial reforms accentuate governance challenges, in turn threatening sustainability of growth
Third, lack of public administration reforms decreases efficiency and effectiveness of taxation and public expenditure
Fourth, corruption in institutions of economic governance affects businesses and ultimately government revenues. 4
Pakistan's Agenda for Economic Reforms - Oxford University Press

5. Pakistan's Agenda for Economic Reforms - Oxford University Press
Source: Worldwide Governance Indicators,
Pakistan's Agenda for Economic Reforms - Oxford University Press

6. Pakistan's Agenda for Economic Reforms - Oxford University Press
Source: Worldwide Governance Indicators,
Pakistan's Agenda for Economic Reforms - Oxford University Press

7. Institutions for Economic Governance
Institutional review: Ministry of Finance, Ministry of Planning, Development and Reform (MoPDR), Ministry of Commerce (MoC) and Federal Board of Revenue
Cross-cutting issues:
Human resource management in public sector
Need for accounting systems that minimise wastages and leakages in expenditures
Need to shed non-essential tasks. 7
Pakistan's Agenda for Economic Reforms - Oxford University Press

8. Federal economic governance – back to the basics
Parliament
Standing Committees
CCI
Prime Minister’s Office
Planning Commission
Federal Economic Ministries
Federal Board of Revenue
State Bank of Pakistan
Chief Minister’s Office
Provincial Economic Departments 8
Pakistan's Agenda for Economic Reforms - Oxford University Press

9. Public Accountability Institutions
Public Accountability Bodies
Public Accounts Committee
National Accountability Bureau
Federal Bodies
Prime Minister’s Inspection Commission
Parliamentary Committees
Federal Ombudsman
Federal Investigation Agency
Provincial Bodies
Chief Minister’s Inspection Units
Provincial Parliamentary Committees
Provincial Ombudsman 9
Pakistan's Agenda for Economic Reforms - Oxford University Press

10. Regulatory arrangements
Economic Regulatory framework
Sectoral Regulators
NEPRA
OGRA
PTA
PPRA
Other bodies
Corporate Regulation
SECP
CCP
Financial Regulation
SBP
Provincial Oversight
CM Inspection Units
Agriculture Market Committees
Price Control Committees
Industrial Relations Commission
Business Courts
Banking courts
Consumer courts
Commercial courts 10
Pakistan's Agenda for Economic Reforms - Oxford University Press

11. Key argument: disconnect between executive, regulatory & accountability institutions
Executive office
Regulatory bodies
Accountability institutions
Pakistan's Agenda for Economic Reforms - Oxford University Press

12. Case Study-1: Tax Regime in Pakistan
Tax Policy
Federal
Provincial
Tax Administration
Sub-provincial 12
Pakistan's Agenda for Economic Reforms - Oxford University Press

13. Case Study-2: Energy Sector in Pakistan
Despite improvements in generation, transmission & distribution gaps persist
GENCOs and DISCOs unable to recover their full economic costs
Hidden & cross subsidies give rise to inefficiencies
Technical losses and theft 13
Pakistan's Agenda for Economic Reforms - Oxford University Press

14. Case Study-3: Public Expenditure Management
Parliament
CCI
Cabinet Committees
NEC
ECNEC
CDWP
PDWP
DDSC
DDWP-II
DDC
DDWP
APCC
Priorities Committee
NFC
ECC
Monetary & Fiscal Policy Coordination Board
Federal Committee on Agriculture
National Price Monitoring Committee
Provincial Assembly
CM Secretariat
PFC
Prioritization review
ADP Formulation 14
Pakistan's Agenda for Economic Reforms - Oxford University Press

15. Case Study-4: Implementing Trade Policy
Ministry of Commerce
Trade Development Authority of Pakistan
Ministry of Finance
Federal Board of Revenue
State Bank of Pakistan
Ministry of Industries
Engineering Development Board
Ministry of Textiles 15
Pakistan's Agenda for Economic Reforms - Oxford University Press

16. Pakistan's Agenda for Economic Reforms - Oxford University Press
Logistics performance scores given in data labels range between 1 to 5; very low = 1, and very high = 5
Source: World Development Indicators, 2016
Pakistan's Agenda for Economic Reforms - Oxford University Press

17. Pakistan's Agenda for Economic Reforms - Oxford University Press
Approach to reform
1. Structural reforms that reduce cost of doing business
Taxation
Energy
Trade Policy
Labour Market
2. Finding new levers for growth
Trade in services
Helping SMEs graduate
Investment diplomacy
Brand ‘Made in Pakistan’
Transit services for trade & energy
Social enterprises
Women entrepreneurship
Creative industries
Reform urban zoning
Judicial reforms for business 17
Pakistan's Agenda for Economic Reforms - Oxford University Press

18. Pakistan's Agenda for Economic Reforms - Oxford University Press
Who will do this? How?
Pakistan's Agenda for Economic Reforms - Oxford University Press

19. Pakistan's Agenda for Economic Reforms - Oxford University Press
Who will do this? How?
Pakistan's Agenda for Economic Reforms - Oxford University Press

20. Social accountability instruments Policy engagement methods
Who will do this?
Social accountability instruments
Policy engagement methods
PBC not given appointment for three years. 20
Pakistan's Agenda for Economic Reforms - Oxford University Press

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