Can Deregulation Boost Investment & Innovation in Pakistan? Enhancing Transparency & Efficiency

Time to Deregulate PIDE Sludge Audits show that the cost of regulations is way above the total GDP of Pakistan. A detailed review of the federal regulatory structure shows that “122” regulatory bodies are functional at the helm of the Federal Government. The government through its direct interventions has a footprint of more than 67% of the GDP. We would like you to consider the following: Is the regulatory framework a barrier to investment and innovation? How can we effectively plan if we don’t go by the data? In what ways does avoiding accountability hinder transparency and progress in both public and private sectors? What steps can be taken to shift from a culture of fear to one that embraces constructive feedback and accountability? How can promoting transparency through evaluations lead to more effective governance and business practices in Pakistan? There are number of myths about informal economy including that it is black, evil and a waste. The informal economy is a competitive economy where the market actually works. Given the onerous regulations and poorly thought out and predatory. Are specific aspects of the regulatory framework causing the most problems? (e.g., permitting processes, licensing requirements, environmental regulations) Are regulations leading to rent-seeking and prohibiting market development? Most of the regulations are paper-based and require official permissions, which are time consuming and possible bribe points. Could these be substituted by proper rule making and digitization? Is it possible to allow rule-based and competitive regulations, where consumers can have maximum choice? Are there alternative approaches to regulation that could be more effective, such as performance-based regulations or self-certification? #Regulations #Business #Pakistan #Budget #Budget2024 #IMF #Debate #EconFest2024 #EconFest Panelist: AHMED WAQAR QASIM Senior Research Economist, Pakistan Institute of Development Economics AWAIS MANZUR SUMRA Secretary, Ministry of Planning, Development & Special Initiatives MUKARRAM JAH ANSARI Member, (Legal & Accounting-Customs), Federal Board of Revenue MUHAMMAD AHSAN MALIK Senior Real Estate Analyst MUHAMMAD MAALICK (Moderator) Journalist/Anchor, AIK News For Further Details Please Visit: @PIDEOfficial www.pide.org.pk   / pidepk     / pideislamabad     / pidepk     / pidepk