KSBL held an insightful Eminent Speaker Series on the “Budget 2020 & Beyond: How to Survive an Economic Downturn.” Moderated by Mr. Muneer Kamal (Director, KSBL), the panelists of the talk included Dr. Nadeem Jawaid (Professor of Economics & Strategy, KSBL), Mr. Khurram Husain (Business & Economy Journalist – Dawn Newspaper) and Mr. Muzammil Aslam (Managing Director, Next Capital).
Speaking on the occasion, Mr. Muneer Kamal (Director, KSBL) in his opening statement gave a brief overview about Pakistan’s recent agreement with International Monetary Fund (IMF). Highlighting the current scenario and instability of the Pakistani economy, he shared that the panelists invited for discussion belonged to diverse backgrounds, who understand and can analyze the country’s current economic situation from different angles.
Creating a contrast between Pakistan’s current and past economic situations, Mr. Aslam shared, “There are a lot of similarities observed in both periods in terms of inflation, interest rate and economic instability. He further added that all these implications were partly driven by mismanagement of the authorities, which has led our economy towards decline.”
Drawing attention towards the future of Pakistan Economy, Mr. Khurram Husain shared, “The long term risk that Pakistan Economy is currently facing is its financial unviability and constant dependency on international support. In the upcoming times the challenges are bigger than revenue for us. Its high time we must move our policy agenda beyond the IMF Program, and address competitive issues and resolve problems on the grass root level for future economic sustainability of the country.”
Dr. Nadeem Javaid (Professor of Economic Policy & Strategy, KSBL) in his part of the session highlighted the major challenges in budget 2019-20, country’s growth deficit and structural issues in Pakistan’s existing economic policy. In addition to that he shared, “To stabilize the country’s socio-economic situation, it is imperative to look into significant contribution of economic literature from the global economic crisis, especially of those firms that have survived the economic downturn in past.”
Later a panel discussion was conducted in which all panelists underlined the robust solutions needed for sustainable growth of the Pakistan economy.