The purpose of the Annual General Meeting of the Pakistan Society of Development Economists (PSDE) is to provide a forum where leading professional economists and policy-makers can exchange ideas on the vital economic problems facing Pakistan. With the passage of time, the philosophy behind the process of development has undergone a profound change. There is now, as never before, an increasing awareness of the complexities involved in the development process which has engendered both pessimism and a greater sense of realism. In Pakistan’s development experience, a number of problems have been tackled which typically confront developing countries in their progress towards a self-reliant economy. These problems are complex and multidimensional in nature. High rates of population growth, an uneven distribution of income, low literacy rates, poor health facilities, relatively low savings rates, large internal and external deficits, and inadequate physical infra-structure in energy generation and communication facilities threaten to nullify the modest economic gains made here as in many other developing countries. Despite these problems, the development process in Pakistan has progressed reasonably well though not without encountering great difficulties. The Annual General Meeting of the Society is also an occasion for stock-taking of the work done on these problems at the PIDE and elsewhere, and also for suggesting new initiatives for further research. These Meetings provide a medium of communication between the high priests of the economics profession, the policy-makers, and the interested observers of this debate. The organization of this Meeting has been greatly facilitated by the very generous funding provided by the Friedrich Ebert Stiftung (Germany). The visits of overseas scholars delivering the Quaid-i- Azam lecture and the Distinguished Lectures have been funded by this organization. The Eighth Annual General Meeting is being held from January 7 to January 9, 1992, and the major topics of discussion are: Women and development, economic development issues, population and human resource development, fiscal and monetary policies, issues in rural development, foreign capital inflows, agriculture and development, income inequalities, population and health, religion and economy, macro-economic policy, agricultural production and pricing policies, migration and regional issues, employment issues, demographic analysis. The highlight of this year’s Meeting is the Inaugural Address by Mr Sartaj Aziz, Federal Minister for Finance and Economic Affairs. This year’s Presidential Address, “Development Economics: The Winds of Change” by Syed Nawab Haider Naqvi, will focus on the state of development economics today. The prestigious Quaid-i-Azam Lecture will be delivered by Lawrcnc H. Summers, Vice President, Development Economics and Chief Economist, The World Bank. His topic is: “Investing in AU the People”. Other notable economists speaking include Graham Pyatt on “Towards a Balanced Development in Pakistan”; Peter A. Cornelisse on “The Relation between Public Debt and Foreign Debt: Strong Rather than Weak”; Richard H. Sabot on “Human Capital Accumulation in Post-Green Revolution Rural Pakistan: A Progress Report”; E. V. K. FitzGerald on “Private Sector Investment Behaviour under Structural Adjustment: Some Suggestions for Improving the Bank/Fund Model”; Winfried von Urff on “The Issue of Sustainability in Third World Food Production”; M. Ali Khan on “Interest Rate and the Intertemporal Allocation of Resources”; Pranab Bardhan on ‘The Economics of Market Socialism and the Issue of Public Enterprise Reform in the Developing Countries”; and Gerry Rodgers on “Labour Institutions and Economic Development”.

PAPERS PRESENTED AT THE 8th ANNUAL GENERAL MEETING OF PSDE – 1992

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