NEW DELHI, Sept 16: Any new government in Pakistan following fresh elections must continue the current economic policies if the 7 per cent plus growth is to be maintained or even overhauled, according to Salman Shah, economic adviser to Prime Minister Shaukat Aziz.

In an interview with DawnNews TV on the margins of a Saarc finance ministers’ conference here, Mr Shah sought to play down any adverse impact of the present political turbulence in Islamabad on the nation’s economy.

“This is an election year. Election year in Pakistan is always boisterous and you have very high decibel levels. And ultimately I think the electorate always gives a good result.

Right now our economy is doing very well. Growth rate is 7 per cent plus. Stock market is very high, foreign investments are coming in at a level that was unthinkable seven years ago. So I think the economic growth has weathered the political decibels.”

Asked if the free-market policies of the present government could be reviewed by a new party in power, particularly given PPP’s history of populism in the country, Mr Shah said: “We believe that whoever comes into power would have to follow (our) policies. We have a very independent media, we have an independent judiciary and we have, I think, very well informed people.

“So any mismanagement of the economy will not be tolerated -- for the simple reason that the bench marks that have been established in Pakistan in terms of fiscal management, in terms of monetary policy, in terms of exchange rate policies would brook no lowering of the bar,” Mr Shah said.

“And the level of the growth, and the level of the investment, if it is not better than before, if any government will not be able to maintain it, will have a very tough time surviving.”

He said globalisation was a phenomenon any future ruler would have to master if they wished to survive. “I don’t think that globalisation is going to go away.”

Discussing his participation in the Saarc meeting of finance ministers, he exuded hope.

He said even though an economic union like Europe or even a customs union was still some distance away, there was a common element among Saarc members that brought them together. And that was their dominant quest for a public-private partnership.