By Ayesha Saba
ISLAMABAD– Achieving Sustainable Development Goals (SDGs) in Pakistan requires an enabling environment where the private sector can thrive.
The government must ensure policy stability, streamline bureaucratic processes, and foster public-private collaboration.
By unlocking the private sector potential, Pakistan can overcome the economic challenges and achieve sustainable, inclusive growth.
The Role of Private Sector in Achieving SDGs
Eminent economist and Executive Director of the Sustainable Development Policy Institute (SDPI) Dr. Abid Qaiyum Suleri said this while talking to WealthPK.
“While the government has committed to SDGs as part of the global 2030 Agenda, translating these goals into tangible progress requires a robust partnership with the private sector.
Businesses can play a significant role in scaling up innovations, generating employment, and investing in sustainable projects that contribute to economic growth and social well-being,” he said.
Fiscal Constraints and the Need for Private Sector Engagement
Dr. Suleri pointed out that Pakistan’s fiscal constraints had severely limited the government’s ability to invest in critical sectors essential for long-term development.
A significant portion of the national budget is allocated for public debt servicing and recurring expenses, leaving fewer resources for key areas such as education, healthcare, and infrastructure.
Creating a Conducive Environment for Private Sector Participation
Dr. Suleri urged the government to implement business-friendly policies to create a more conducive environment for private sector participation.
He called for the reduction of regulatory barriers, streamlining of the tax system, and ensuring access to affordable financing, particularly for small and medium enterprises (SMEs), to encourage private investment in SDG-aligned sectors.
Public-Private Partnerships as a Key Mechanism
Public-private partnerships (PPPs) were highlighted as a critical mechanism for accelerating development projects.
While the PPP model in Pakistan is still in its early stages, Dr. Suleri expressed confidence that with time and proper structuring, it could yield significant long-term benefits.
Private Sector Contributions to Pakistan’s Economy
Talking to WealthPK, Ahmed Waqar Qasim, Senior Research Economist PIDE, said Pakistan’s private sector was contributing significantly to the country’s GDP, employment, and innovation.
From agriculture to technology, businesses in Pakistan have demonstrated resilience and adaptability, even in the face of economic instability.
For instance, the private companies in Pakistan have already made strides in solar energy projects, reducing the country’s reliance on fossil fuels. Similarly, agribusinesses are adopting climate-smart practices.
Recommendations for Enhancing Private Sector Engagement in SDGs
“Pakistan should establish a dedicated project development facility to attract and engage the private sector, comprising technical experts, investment bankers, engineers, and procurement specialists.
This facility should operate independently of political influence and government intervention to ensure transparency, efficiency, and professionalism in project execution,” he suggested.
“The government should focus on improving the ease of doing business, providing tax incentives for sustainable enterprises, and enhancing digital infrastructure to foster innovation-led growth.
Additionally, targeted interventions such as special financing schemes with low markup rates and no collateral requirements for the SMEs could significantly enhance the private sector contributions to the SDGs,” he stated.
