IBA reviews Pak economy during pandemic

IBA reviews Pak economy during pandemic

Experts urge institution to conduct periodic review of economy

The Institute of Business Administration (IBA) Karachi on Thursday launched a book titled State of Pakistan’s Economy: During Pandemic and Beyond 2021-22.

Faculty members of the Department of Economics, School of Economics and Social Sciences, and Centre of Business and Economics Research contributed in this important task, said an IBA release. Following its tradition of the last two years, the faculty of the Department of Economics analysed the state of Pakistan’s economy in the backdrop of the federal budget 2021-22.

The analyses culminated into a book that was launched at IBA Karachi, Main Campus. The attendees included members from academia, media, corporate sector, IBA faculty, students, and alumni.

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The book was launched through a panel discussion featuring Technical Specialist in Agricultural Policies Dr Mubarik Ahmed, former advisor to the prime minister on revenue Dr Waqar Masood Khan, and University of Karachi Applied Economics Research Centre Director Prof Dr Samina Khalil. The panel discussion was moderated by IBA Executive Director Dr S Akbar Zaidi and School of Economics and Social Sciences Dean Dr Asma Hyder.

Dr Masood said people would wait if IBA published the economic review periodically and in a timely manner.

The book provided an assessment of the budget performance in 2020-21 and analysed the outlook of fiscal policy for 2021-22. It discussed the State Bank of Pakistan’s response to various demand and supply-side shocks during the last two decades.

Dr Mubark Ahmed said the book focused on the prospects of regaining the trade competitiveness in the post-Covid-19 scenario and growth and trade prospects in view of the business confidence index.

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It analyzed the sectoral issues related to construction, energy, and agriculture respectively and the effects of Covid-19 on the labor market. It covered the state of education during the pandemic, the youth, and opportunities. Lastly, it provided a snapshot of social protection in the country in the wake of the pandemic.

Dr Samina Khalil underscored the need to include environmental and health economics in economic discussions.

Published in The Express Tribune, September 17th, 2021.