To sum up, Pakistan is facing a lot of challenges to achieve long-term growth with stabilisation not limited to the taxation system, land management system and banking sector. One of the prominent challenges is the absence of growth-led strategies along with lower levels of human development, lack of innovation and technology and absence of the academic institutions in the planning process. Therefore, there is a need for structural reforms in the taxation system and to spend a prestigious amount of money in resource development and research & development. Furthermore, to achieve the higher growth, we have to promote and develop innovative SME sectors