Lessons
For Other Developing Countries
•A Long Term Vision and
Road Map has to be Sketched Out Before Reforms
are Initiated
•It Takes Almost a
Decade of Consistent, Uninterrupted Efforts to Bring About Sustainable Reforms
•Autonomy and
Competence of the Regulators has to be Ensured Both in Legal & Substantive Ways
•Macroeconomic
Environment has to be Conducive and Supportive
•Public Sector Banks
Cannot Be Improved in the Absence of Overall Financial Sector Reforms
•Political Will to Take
Unpopular and Tough Decisions Such as Large Scale Retrenchment is Sine Qua Non For Success
•Strong Professional
Management is Required at all Levels of Decision Making in Restructured Financial Institutions
•Proven International
Best Experiences Rather Than Ideological Rhetoric
are The Best Guide For Building up Support and Implementing Reforms