ITRAT BASHIR & ZAHID BAIG

LAHORE: The Punjab Economic Research Institute (PERI) has started work on its next economic report for the year 2018-19 with an objective of identifying drivers of Punjab economy growth for the next government, which will ensure comprehensive development in all sectors of the provincial economy.

“Our team is in a dialogue with different stakeholders, including academics, bureaucrats, political representatives and civil society, to determine the drivers of growth. We will prepare the reports with recommendations in line with the vision of the new government,” said PERI Director Mumtaz Anwer Chaudhry while talking to Business Recorder here on Monday.

According to him, in the first phase of the report preparation, they contacted various academics for their input to determine the direction of the new report and this phase is almost completed. The second phase will involve consultation with various government departments, which has been initiated. The initial research working on this report will completed before the new government comes in and only after that a final economic strategy for Punjab will be completed in accordance with the vision of the new government.

“The final report will have recommendations for the government to follow if they feel it meets their vision,” he added.

In his opinion, agriculture should be taken forward in the next report as a drive of growth in the province. He observed that agriculture sector was the backbone of the Punjab economy and hence it needs to be focused. “Recently, the attention of the successive governments had shifted from rural economy to urban development, as due to a growing perception that urban centres are becoming an engine of growth. However, our strength lies in agriculture and thus we should focus on this sector in order to make the provincial economy more diversified and vibrant,” he added.

He revealed that keeping this in mind the new economic report will explore and study the agriculture sector from an angle of ‘driver of growth’; in fact they will look at possibilities to make a paradigm shift from an infrastructure based economic growth to an agricultural based economic growth. “The report will also focus the areas of SMEs/entrepreneurships and human capital development,” he added.

According to him, Punjab has a huge bulge of youth population, which is a potential asset that can be utilized in propelling the provincial economy growth. However, they need to explore the ways to capitalize this resource that fits with their newly identified drivers of growth. Thus, the growth of human capital through promotion of education, skill development and entrepreneurship will a topic of research in the report. An ultimate goal is to develop and strengthen human beings in Punjab.

“The aim of the Economic Report 2018-19 is to take the development in Punjab to the next level through capacity-building of available human capital,” he added.

Talking about his institution, the PERI Director said that their sole purpose is to carry out research and suggest policies for the government. He said that PERI came into being in the province since 1980 but worked under different names in different eras. He revealed that in the recent past their research had been diversified and it is now being led by development economists.

“The PERI primarily focuses on four core areas, which include rural economy, industry and CPEC, social sector that include education, health, drinking water and gender, and impact assessment of different projects,” he added.