Posted 1/15/2024, 2:55:33 AM
Outdated Mindsets and Policies Blamed for Widening Pakistan's GDP Gap
- Archaic mindsets and flawed government policies prevent Pakistan from reaching its economic potential, widening the GDP gap
- Business leaders blame hostile government attitudes and excessive regulation for undermining expansion plans and investment
- Former government officials portray businessmen as lazy, addicted to favors, and refusing to take risks or invest unless protected
- Private sector argues issues like lack of strategy and incentive structures that encourage non-productive investments also play a role
- Vicious cycle persists as elite protect privileges, avoid accountability, and show unwillingness to learn from past mistakes