On Wednesday, 27^th September, 2023, National Institute of Management, Lahore arranged s lecture discussion with honorable guest speaker Dr. Rashid Amjad, a renewed economist, writer and teacher. The topic of the address to the participants of 38^th MCMC was “The Economy of Pakit Challenges and Prospects”. The honorable guest speaker emphasized that while formulating economic policy in a developing country, it is crucial to introduce measures to keep the balance in fiscal the trade deficit, current account deficit and tix to GDP ratio

The also presented a solution to slowly come out of this poor economic situation. He explained that key factor for ensuring economic stability are to increase current low level of investment and to use available resources instead of reliance on imports. He stressed to observe the monetary and fiscal discipline reliance on short-term economic crises management plans will not serve the purpose. There is need to follow prudent economic policies instead of popular decisions. The key to success is to plan/implement medium to long-term policies for achieving high sustainable and equitable growth. He added that there is a compelling case that Pakistan needs to come up with a home-grown sustainable growth strategy that may help us to build up foreign exchange reserves that can act as a buffer against external shocks. The issue of domestic market generating high profits that discourages exports must be well considered taken up. There is need to unleash new avenues of growth which are knowledge and technology intensive to ensure economic sustainability. He ended with the optimistic note that Pakistan will come out of these recent economic crises and it will default if it takes prudent economic decisions for its long-term economic stability.