Growth transition
PRIME Minister Shehbaz Sharif’s recent call to move from stabilisation to growth, job creation and export promotion was overdue. But the danger lies in treating the shift as a change of direction rather than a change in the quality of economic policy. Mr Sharif said macroeconomic stability has been restored and the next task is growth driven by technology, production, employment and exports. He is not wrong. He pointed to rising reserves, remittances and IT exports, a return to the international debt market, and better investor confidence. He also admitted that industries protected by tariffs and subsidies have failed........
