'Viable legal framework to ensure economic boost'

Director Pakistan Institute of Development Economics (PIDE) Dr Nadeem-ul-Haque while discussing in detail the legislative framework and its impact on the economy, stressed for the need to conduct research in this area in order to secure better economic inputs and asked for viable legal and procedural frame work for fostering result oriented economic progress.
He was speaking at a round table meeting on Institution, Governance and Law held at GC University Lahore, on Saturday. The economics department of GC University Lahore and PIDE, Islamabad jointly organised a round table meeting.
Chairperson department of economics GCU Lahore Dr Qais Aslam said that we need to look into the question of ownership of law, which is very important. Inam-ul-Haq, chairman Think Tank on World Trade Organisation (WTO), government of the Punjab agreed with the proposition of Nadeem-ul-Haque and gave concrete proposals for the educational institutions to table up the issue of research in the topic of law and economics.
Barrister Salman Raja highlighted the work already done in the country on different aspects of law and legal framework for making markets and economic activities more transparent and functional. He also gave concrete suggestions for future course of action.
Humayun Ehsan, Principal Pakistan Law College specifically talked of regulatory framework because of which, many sub-standard private institutions are springing up and causing the sub-standard teaching in the private sector especially in the legal profession. Dr Shujaat Ali, Chief Economist Planning and Development government of the Punjab looked at the relevance of institutions in promoting economic activity in the country.
Barrister Anwar Kamal disagreed with a lot of propositions and specifically criticised the donor driven agendas that in his view have channelised the economy towards the few richer sections of the society and the foreign capital. He particularly emphasised the legal framework and economic institutions to be re-structured for the benefit of the masses.
Air Vice-Marshal Anwar Mehmood Khan (Retd.) discussed in detail the role of equity in a state and elaborated the perceptions of social capital and security concern. The participants took active part in the knowledge sharing sitting of the round table meeting. The faculty members and students of the economics department of the university participated in the knowledge sharing discussion.