Pakistan’s current economic model is not working: World Bank

Pakistan’s current economic model is not working since it has fallen behind its peers, significant progress in poverty reduction has now started to reverse, and the benefits of growth have accrued to a narrow elite, observes World Bank Country Director Najy Benhassine. “There is a broad consensus that action is needed to change policies that have plagued development, benefitted only a few, and led to very volatile and low growth,” Mr Benhassine stated in a Policy Vision article, published in the latest UNDP publication. Pakistan is heavily exposed to climate change, with the potentially devastating impacts of climate shocks and natural disasters already apparent, he said in Development Advocate Pakistan, the UNDP’s quarterly development magazine providing a platform for Pakistan’s authorities, civil society and intelligentsia to exchange ideas on key development solution pathways in the country.