David - no argument really with point 2)... of course you should have venture funds, especially if it's not the Gov't of Pakistan but international donors who fund it.
But 1) doesn't sound right to me. Yes there's no evidence on big policy, but we do know that some countries are way better at "government" than others. Big policy happens and senior officials as well as politicians have to make do with what they've got and take big decisions accordingly.
You can accumulate rock solid evidence on small decisions at the margin, but the big prize is to help governments make big decisions marginally better.