Rethinking Growth Model: From Hardware to Software

Abstract

he Need for Rethinking Pakistan’s Growth Model

To absorb Pakistan’s youth bulge, into gainful employment, and to sustain the country’s high level of debt, PIDE’s estimates suggest that the country’s GDP should grow at a rate of 7-9 percent per annum for a fairly long period running into decades. 

What is Software of the Economy and the Society

Laws, rules and processes that and impact economic activity.

Growth-conducive software will facilitate economic activity (i.e. transactions) in lesser time, at low monetary cost to the stakeholders, will encourage competition and provide a level playing field to all

Pakistan’s present growth rate is not only low the long term trend of growth is declining as well. Productivity and investment the two key drivers of growth are also on a declining course (see Figures 1 and 2). Breaking away from this low growth trajectory calls for deep-rooted structural reforms. Realising this, the PIDE with active consultation of renowned economists and development practitioners from all over the country has developed the PIDE Reform Agenda for Accelerated and Sustained growth (2021).