A Parliamentary Seminar on State Of Economy and Annual Budget for honorable Members of Senate of Pakistan was jointly organized by the Senate of Pakistan, Pakistan Institute for Parliamentary Services (PIPS) and EU funded Project “Mustehkam Parlimaan” at Parliament House, Islamabad on Thursday, June 23, 2022. The proceedings began with the recitation of Holy Quran followed by the welcome remarks and introduction of agenda by Dr. Pervez Abbas, Deputy Team Leader EU Project Mustehkam Parlimaan and welcome address by Mr. Muhammad Anwar, Executive Director, Pakistan Institute for Parliamentary Services (PIPS) and Mr Qasim Samad Khan, Secretary Senate.  

The seminar was attended by 40 participants including honourable Senators, Hidayatullah Khan, Dost Muhammad Khan, Danesh Kumar, Umer Farooq, Walid Iqbal, Afnanullah Khan, Syed Sabir Shah, Bahramand Khan Tangi, Mohammad Abdul Qadir, Fida Muhammad and team research PIPS and Senate. In the first session, Mr. Dawood Ahmed, PFM Expert, Mustehkam Parlimaan, deliberated about Budget Books followed by salient features of Annual Budget Statements and Budget in Brief FY2022-23.

Reputed Economist and SBP Chair of Economics, Dr. Waseem Shahid Malik who is Adjunct Faculty of the Pakistan Institute for Parliamentary Services since 2014 conducted an absorbing interactive session on “State and Challenges of Economy,” as well as key microeconomic and macroeconomic challenges of economy that could be focus of Government for ensuring short run and long run economic growth and development. He underlined that the over the years Pakistan Economy has become more a consumption economy orienting itself towards services sectors rather focusing on industry and agriculture. Strengthening agricultural and industrial base as well as strong institutions may guarantee sustainable and long term economic growth. Last but not the least, Mr. Aizaz Asif, PFM Expert from Mustehkam Parlimaan highlighted available parliamentary authority especially with regard to role of parliamentary committees in actual participation during all steps of budget making, authorization and scrutiny of various ministries throughout the year.

Honourable Senators took active part in the discussion making seminar an interactive roundtable to trace issues and challenges of economy in wake of reaching some set of recommendations for short run and long run remedies to achieve economic growth. Honorable Deputy Chairman Senate, Mirza Muhammad Afridi termed the seminar as an effective and important initiative by team PIPS and Mustehkam Parlimaan. He emphasized that PIPS is parliament’s think tanks that allows MPs to have direct access with experts and area specialists to bring policy reforms for the national development and progress. He was of the view that long term planning was needed to overcome the current financial woes and debt situation. “We should lend support to small businesses. Macro and Micro Economic factors must be reviewed. We need to think about how to build the Nation. Senate has to play its part”, said Mirza Muhammad Afridi, Deputy Chairman Senate/ Vice President PIPS BoG. The four hour event concluded with Vote of Thanks and a Group Photo.

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