On Thursday, February 6, 2025, Prof. Dr. Mumtaz Anwar Chaudhry, Dean of Faculty of Business, Economics and Administration Sciences (FBEAS), delivered a lecture to the participants of 37^th SMC on “Economic Planning and Development in Pakistan”. Professor Mumtaz Anwar Ch. provided an insightful analysis of Pakistan’s economic planning history, tracing its evolution from the early five-year plans to contemporary frameworks. He elaborated on the institutional mechanisms that drive economic planning, discussing key agencies such as the National Economic Council (NEC), Executive Committee of the National Economic Council (ECNEC), Central Development Working Party (CDWP), Provincial Development Working Party (PDWP), and Departmental Development Sub-Committees (DDSC). He critically examined Pakistan’s planning structure, highlighting both institutional strengths such as centralized coordination and weaknesses, including bureaucratic inefficiencies, lack of long-term vision, and political interference. Additionally, he outlined the various phases of the planning process, emphasizing how strategic economic frameworks shape national development objectives.

2. The lecture further explored theories of economic development, distinguishing between economic growth and economic development while discussing key determinants such as infrastructure, human capital, governance, and industrialization. Professor Mumtaz identified structural impediments to sustainable development, including policy inconsistencies, weak institutions, and socio-economic disparities. He compared Pakistan’s economic strategies with international best practices, drawing lessons from countries that have successfully navigated development challenges through inclusive policies, innovation-driven growth, and effective governance. He concluded by stressing the need for policy continuity, institutional reforms, and evidence-based planning to ensure long-term and sustainable economic development in Pakistan.