There seems to be a lot of focus on the working of ministry of finance, which is not to say that its role is in any way less important than other sectors of the economy, yet given a world of polycrisis, including unwarranted belligerence from the country’s eastern neighbour – which was met with overpowering but justifiably measured force by Pakistan – the role of economic policy, especially towards improving economic institutional quality – or ministries at the federal, and departments at the provincial level for subjects totally in provincial domain and underlying organizational, and market development, in particular in terms of governance and incentive structures, should serve as a much more strengthened second line of defense.

Hence, economic policy-making on these lines is approached to provide much-needed enhanced support to further augment otherwise sound efforts of armed forces for ensuring national territorial independence. In addition, such economic policy is needed to improve protection against the existential threat of climate change crisis, and the related ‘Pandemicene’ phenomenon, the attainment of sustainable development goals, sustainably managing the debt distress, building-up ample foreign exchange reserves, managing inflation, reducing poverty and inequality, and strengthening democracy.

Moreover, economic policy needs to be approached in a mission-oriented, purpose-driven way, where the best minds in economics globally, especially those who have a grip on the misgivings of neoliberal economics of the past four decades– for instance, but not limited to names like Mariana Mazzucato, Isabella M. Weber, Joseph E. Stiglitz, Clara Mattei – need to be brought together, and along with local policymakers a certain multi-year economic policy, and supportive budgetary framework needs to be developed. That such plans have required level of inclusivity for greater acumen, indigenous knowledge, international best practices, and ownership, all major political parties, all provinces, and multilateral/bilateral development partners are taken on board in these discussions.

The fast-unfolding nature of climate change crisis, the related........

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