ISLAMABAD - Dr Nadeem-ul-Haq, Deputy Chairman Planning Commission on Wednesday said that there was a dire need of reformation of the economy , as country has to raise its own resources instead of depending on foreign aid. This he said while talking to the media persons after chairing a discussion on The New Development Approach. Abo-ut the flood tax, he said it was not a tax rather a surcharge that would generate Rs 55b, which would be used for reconstruction phase in the flood-affected areas of the country. Earlier, Dr Waqar Ahmed, Deputy Chief of Macro Economic Section of the Planning Commission gave detailed presentation on the new development approach. He said that the investment rate in Pakistan was about 18 percent against India which has 40 percent. There was a need to increase Pakistan competitiveness rate, which at current stand for 101 out of total 119 numbers. He also stressed for improving infrastructure quality, tax system and removing subsidy regimes. According to the new approach, he said economic growth depends on increasing productivity and more investment in the country. He also asked for development of cities and regional clusters along with improved governance and better public service delivery. Addressing the participants, Dr Nadeem-ul-Haq said Pakistan has to change itself according to global changes scenarios. Only providing financial assistance could not provide the desired results of high economic growth and stressed for quality and performance based economy . Every one in projects demanded more and more money and totally ignored the performance of their respective projects. He stressed for development of indigenous and foreign markets. During the discussion, he accepted that public service delivery failed to deliver masses but he also went on to say that the countrys is missing value added economy . Robin Raphel, US Coordinator, speaking on the occasion said the donors wanted access to women in education and other development sectors of the economy . She claimed that development of Pakistan mainly depends on active involvement of women. In this regard she said women education was necessary for economic prosperity of the country. Secretary Planning Commission told the participants that country badly needed enhanced human resources and skill to faster productivity. Public Sector Development Programme main aim was to maximise economic growth through impact of development spending. However, a big portfolio of govt spending projects hampers the completion of development projects. He informed the participants that in 2002, there were total 950 projects, which rose to 1900 in 2010-11. For effectiveness, the secretary stressed for need based projects along with timely and required releases.