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Pakistan's underlying potential to be a regional economic powerhouse is greater than its counterparts'. - File photo

ISLAMABAD: Renowned economist and scholar Shahid Javed Burki said that Pakistan's economy can catch up fairly fast to the developed world, as compared with India, by adopting proper policy and fully mobilizing the available rich natural and human resources.

He was addressing the launching ceremony of his book 'South Asia in the new World Order' in Singapore, said a message received here Thursday.

Burki said that Pakistan's GDP growth had been double of India's growth rate of 2-3 percent for four decades 1947-1987. He quoted a recent Harvard University study which has mentioned that Pakistan's higher education sector was performing better than India and Bangladesh.

This, he attributed to the investment made by the private sector in education. Syed Hasan Javed, High Commissioner of Pakistan in Singapore who was guest honour on this occasion said South Asia is blessed with rich heritage and natural, physical and human resources.

He observed that the South Asian states could learn from Confucianism's teaching of 'Prosperity they neighbor' and the role model of ASEAN, in order to promote regional cooperation in the economic sector.

Prof. Kishore Mahbubani, Dean of the Lee Kuan Yew School of Public Policy endorsed the views of Shahid Javed Burki and the High Commissioner in order to generate a new thought process in South Asia.