Dr Sarfraz Khan Qureshi, Director of Pakistan Institute of Development Economics, Distinguished Guests, Ladies and Gentlemen, It is a great pleasure for me to be present here this morning. Over the years, the Pakistan Society of Development Economists has made notable contributions to the profession of Economics and Planning. It has also helped to strengthen the evolution of scientific knowledge in Development Economics. More importantly, it has given an institutional shape to the exchange of ideas between economists, other social scientists, and policy-makers. I am happy to note that a large number of distinguished academics and policy-makers from all over the world regularly participate in the Society’s meetings. I earnestly hope that useful policy prescriptions will emerge from the deliberations that take place here about the major issues in economy. Indeed, I wish to extend my appreciation to the Society for providing a lively and effective platform both to researchers and policy-makers.