ISLAMABAD: Amid sluggish growth and increasing poverty ratio in the country, experts on Wednesday recommended certain measures to policymakers that focused on achieving sustainable targets and plugging loopholes in a number of sectors that impeded economic growth.
Panel discussions, policy dialogue, roundtables and thematic sessions continued on the third day of the ongoing Sustainable Development Conference organised by the Sustainable Development Policy Institute (SDPI).
At a session titled, “Local Government System in Pakistan: From Challenges to Resilience”, MNA Nafisa Shah, the convener of the Parliamentary Forum on Energy and Economy, said after the 18th Amendment, Article 140-A had been strengthened and now local governments had become a provincial subject, adding that there were challenges but even then, governance should be devolved.
MNA Riaz Fatyana said the Election Commission of Pakistan (ECP) had been negligent of its duty to hold local government polls within the timeframe.
Muttahida Qaumi Movement-Pakistan (MQM-P) leader Jawed Hanif Khan and National Assembly Standing Committee of Commerce chairman said the local government system was not being strengthened because they were not being provided sufficient funds.
Jamaat-i-Islami (JI) Deputy General Secretary Farasat Ali Shah said he failed to understand why this system was trampled, questioning the reason behind not providing funds to local governments.
In a roundtable discussion on “Living Wage for a Sustainable Pakistan: Bridging Gaps, Building Equity”, labour law experts and representatives of multinational employers came together to discuss ways to improve wages.
Dr Asad Sayeed from Collective for Social Science Research Karachi defined “reservation wage” as the minimum wage at which people were willing to offer their services.
According to some estimates, this reservation wage or floor wage in Pakistan is Rs27,000 and our estimates of living wage are approximately Rs55,000, Dr Sayeed said.
Dr Sebastian Paust from the German embassy regrettably said the implementation of the conventions of the GSP+ status by Pakistan was dissatisfactory.
Dr Azfar Khan from Anker Research Institute said that strategies and frameworks used to determine the minimum wages should be constantly updated with the changing inflation trends.
In another session on the “Role of Microfinance Institutions for Climate Risk Insurance”, the speakers said with Pakistan’s increasing vulnerability to climate change, conventional funding alone was insufficient to achieve climate resilience and required more innovation and products to be added.
Wazirzada Yasir, senior official at the Security and Exchange Commission of Pakistan (SECP), proposed launching climate risk insurance products through pool by several insurance companies to enhance its outreach at a reduced cost.
Head of Strategy Mobilink Microfinance Bank Ltd Khowla Shoaib said the bank had made several strides to bring the marginalised segments of society into financial inclusion through resolving female account owner App.
IBA Head Programme and Partnerships Syed Bulent Sohail outlined key lessons for Pakistan while recommending dedicated climate risk insurance products, strengthening public-private partnerships, expanding ESG and climate-focused lending and comprehensive climate adaptation programme.
Kashf Foundation COO Mumtaz Iqbal said climate-resilient strategy needed to be developed to protect the livelihoods and health of most vulnerable communities.
Director SELF India Anuradhapura Mirikar said the region was facing the same challenge from climate change. Umer Baloch from World Bank said the role of MFIs was catalyst for financial inclusion.
Speaking at the podium discussion titled, “Societal Cohesion: Promoting Tolerance and Peace for Inclusive Development”, Senator Farhatullah Babar of PPP said the state had disregarded the minorities and peripheries of the federation developed sentiments of neglect and resulted in their dilapidated situation.
Former Senator Afrasiab Khattak said lack of peace and tolerance in the society had sprouted from the policy decisions taken by the state.
Karon Shaiva, IDOBRO and RIF, India, said societal cohesion development and peace were critical as cohesion showed stability and strength that builds foundation for societal development.
Former federal secretary Dr Syed Kaleem Imam said trust, due process, social contract and ethics were necessary for social cohesion, whereas, lack of due process and selective process in the system damaged social harmony.
Speakers at the session, “Opportunities and Challenges for Today’s Youth and Future Human Capital”, emphasised that empowering the youth through social protection measures was essential for fostering resilience and enabling meaningful contributions to the nation's economy.
Copyright Business Recorder, 2024