According to WB, Pakistan’s current economic model is ineffective

Pakistan’s current economic model was not working, World Bank Country Director Najy Benhassine has said, underlining that the country needs to overhaul its economy and focus on generating alternative electricity instead of through expensive.

Benhassine made these comments in an article that was printed in the most recent UNDP publication. He painted a bleak image of the economy in his piece, claiming that the nation’s growth in poverty had begun to stall and that it was lagging behind its peers.

Read More: PSX rises sharply on expectations for an IMF loan

He lamented that only the wealthy had benefited from growth. According to him, there had been a growing belief that policy changes were required and that flaws in the energy and agriculture sectors needed to be fixed. But he cautioned that prior experience indicated that reforms were obstructed.

Read More: Assurance to IMF to further increase petroleum levy

Benhassine emphasized Pakistan’s potential for a prosperous future. He further stated that changes to government spending were necessary. He argued that growth and a free economy would raise people’s standards of living.