EUR 9.33 For Business Accounts Only

Pakistan Strategy_Much needed ‘tabdeeli’ for policy making in 2020, (AKD Daily, Dec 29, 2020)

• Regulatory and public policy process quickened pace under the PTI-led GoP’s second full year as the COVID pandemic dominated headlines with measures to address the same remaining prominent. In this note, we recap major investor market reforms launched during 2020, while commenting on sectoral initiatives undertaken and key appointments underpinning a proactive year for reforms in the country (table on next page).• Regulatory and public policy process quickened pace under the PTI-led GoP’s second full year as the COVID pandemic dominated headlines with measures to address the same remaining prominent. In this note, we recap major investor market reforms launched during 2020, while commenting on sectoral initiatives undertaken and key appointments underpinning a proactive year for reforms in the country (table on next page).• Despite the absence of major legislative endeavors (apart from FATF mandated AML legislation), we highlight the role played by inquiry commission reports probing the workings of three major sectors, namely Sugar, Power/IPPs and downstream Oil where the traditional process of policy making was side-stepped for a relatively unbiased and holistic overview of respective sectors with observations made public.• Heading into 2021, with the Senate elections right around the corner and armed with recommendations of inquiry commissions, the PTI-led Govt looks poised to extend its majority to the Upper House, where we await a roadmap for legislative initiatives to be undertaken, likely to foreshadow a comprehensive overhaul of regulations. • On a qualitative note, the tilt to improved information sharing, quantitative guidance and forward looking statements is evident in the improved quality of publications released by state organs, entities and regulators (SBPs State of the Economy, NEPRAs State of the Industry, to name a few). For market participants and analysts informing the same, this is a much-welcomed move to curb information asymmetries and improving the quality of forecasts over the long term.AKD Research