The World Bank in its January 2017 report titled “Global Economic Prospect: Weak Investment in Uncertain Times” has revised its GDP growth projections for Pakistan for the years 2017-2019 whereby it is projected that Pakistan’s economy is going to grow at a faster pace than predicted previously by the last report issued by the World Bank. Against the previously predicted 5.0 percent GDP growth for the year 2017 and 5.4 percent for the year 2018, the latest figures are 5.2 percent for the year 2017 and 5.8 percent for the year 2018. What this means is that the government is to be believed when it says that the GDP growth rate has improved during its tenure. However, for certainty of the correct figure of the GDP growth rate, it is advised that the World bank’s report should still be adverted to given the past mishaps of the government in citing the correct figures due to inadvertent “human errors”. The government’s role in this positive trend should not be understated given that its adoption of fiscal restraint policies along with development in infrastructure under China-Pakistan Economic Corridor, agriculture sector particularly the upcoming inauguration of the Khanki barrage, a forward-march on energy related projects, reforms in tax policy and administration and independence of the State Bank of Pakistan have uplifted the outlook for the next few years. However, the government has also been riding on the back of fortuitous circumstances such as the low cost in prices of fuel, which has kept the inflation level low. In the interest of not getting blinkered by these glad tidings, there are other recommendatory parts of the report that also need to be kept in perspective before the report is brandished about by the government of its vindication. Pakistan, along with the whole of the South Asia, faces serious policy challenges looming up ahead. As pointed out by the World Bank, investment in human capital is ineluctable if these economies want to shift from basic manufacturing to more innovative and high rewarding industries. For that purpose, higher quality education and vocational training need to be provided to acclimatize the labor force of the knowledge based demands of the world market. Similarly, increasing the tax base for revenue collection is imperative for balancing budgetary deficits and increasing public spending. Pakistan also needs to bring its female population to contribute to the labor force. In addition to the aforementioned structural reforms, regulatory reforms such as the ease in doing business also needs time and effort. Currently, it takes around 181 days on average to get an electricity connection in Pakistan, which is a major hindrance to the setting up of small and medium enterprises especially in rural areas. Similarly, creating new business chains by finding new markets for Pakistani products as well as cheap markets for importing raw materials is a sine qua non for expanding its business horizons. Coupled with the recently announced exports incentives package, it could prove to be quite fruitful in the future. *