Academic members from the Institute of Business Administration Karachi’s Department of Economics, School of Economics and Social Sciences, and the Center of Business and Economics Research released a book titled “The State of Pakistan’s Economy: During the Pandemic and Beyond 2021-22.” The purpose of this meeting was to assess the economics of Pakistan during the Pandemic and beyond.
Following in the footsteps of the previous two years, the Department of Economics faculty examined the condition of Pakistan’s economy in light of the government budget for 2021-22. The research resulted in the publication of a book including the economics of Pakistan in the period of Pandemic, which was released at the IBA Karachi Main Campus.
Members of academics, the media, the business sector, the IBA professors, students, and alumni were among those in attendance. Dr Mubarik Ahmed, a technical expert in agricultural policy, Dr Waqar Masood Khan, a former advisor to the prime minister on revenue, and Prof Dr Samina Khalil, head, Applied Economics Research Centre, University of Karachi, participated in a panel discussion to launch the book. Dr. S Akbar Zaidi, Executive Director, IBA Karachi, and Dr. Asma Hyder, Dean, School of Economics and Social Sciences, led the panel discussion (SESS).
Dr. Hyder, the session’s co-moderator, provided insight on the book’s thinking process by revealing that it was Dr. Zaidi’s proposal for the Economics Department faculty to assist the government and policymakers by giving academic advice on economic problems. The book is comprised on the stats and facts and the issues Pakistan faced during the Pandemic.
The book’s assessments address a wide variety of topics related to Pakistan’s macroeconomic policy. It depicts the economy’s future terrain. It evaluates the budget’s performance in 2020-21 and examines the fiscal policy forecast for 2021-22. The reaction of the State Bank of Pakistan to different demand and supply-side shocks during the past two decades is discussed.
Dr. Ahmed told the audience that the book correctly pointed out that Pakistan’s agriculture policies were still in their infancy. In light of the Business Confidence Index, the book focuses on the possibilities for restoring trade competitiveness in the post-Covid-19 situation, as well as growth and trade prospects. It looks at problems in the construction, energy, and agricultural sectors, as well as the impact of Covid-19 on the labour market. The condition of schooling during the Pandemic, the youth bulge, and possibilities are all discussed.
Finally, it gives an overview of social protection in Pakistan after the Pandemic. Dr. Khalil emphasised the need of include environmental and health economics in economic debates.