Good governance: The secret sauce to Singapore’s

ISLaMaBaD

NEWS DESK

Writing for Dawn, Seyyda Taskeen

Abbas Naqvi talks about Singapore, a small island nation in Southeast Asia, which in recent years has managed to establish itself as a developed nation with a strong economy, despite not having any natural resources. Its success can be attributed to several factors, including its emphasis on education and human capital development, creation of a businessfriendly environment, strong social protection system, and good gover- nance. These strategies can be adapted by other developing countries, such as Pakistan, to achieve economic growth and social prosperity.

To follow in Singapore's footsteps, Pakistan needs to invest in education and human capital development, providing financial assistance programs and professional development opportunities to promote STEM education and prepare students for the future economy. It also needs to create a business-friendly ment Plan (CDMP) was approved by the Economic Coordination Committee (ECC) last month. The Power Division had submitted the CDMP to the ECC, where it summarized the multiple steps taken and planned to curb the accumulation of circular debt in the power sector. This will definitely improve the liquidity situation for all the companies listed in both oil and gas producers, transmission as well as power generation and distribution sectors and may result in high dividend payouts.

Rising interest rates will force investors to move away from riskier assets such as equities to safer avenues such as fixed income, which will be beneficial for banks as their net interest margins will improve. But the rising risk of default due to an economic slowdown may result in write-downs and higher provisions on the balance sheets of banks exposed to the leveraged sectors or not adequately capitalized to deal with such eventualities.

To read the full article visit www.tribune.com.pk

Economic And Political Stability

environment, encouraging public-private partnerships and simplifying business registration processes.

Pakistan can develop an export-oriented economy by investing in appropriate infrastructure, trade facilitation, and education to support industries such as textiles, minerals, and energy resources. It also needs to prioritize social protection by implementing a comprehensive social protection system and encouraging citizens to save.