IMF report in nutshell: Pakistan follows statist model

By this time, many articles and commentaries have been published on the IMF report "Pakistan Governance and Corruption Diagnostic Assessment". As already well understood before this report was issued, we do have systemic corruption and governance weaknesses that suppress investment, distort markets, undermine revenue collection, and perpetuate economic fragility. We have been advocating that structural reforms, especially along the supply side, will unlock significant economic growth for Pakistan. This also resonated in the 5th Pakistan Prosperity Forum, which was themed on "Reforms for Growth". Nevertheless, the report generated a stir. In this article, I will focus on what I believe is the main thrust of this report, building on a brief by the former chief economist, MA Zubair.