Pakistan is a country having vast natural resources but, unfortunately, it is unable to manage the scattered and divided network of national assets. All mismanagement and encroachment upon our internal affairs is due to intellectual vacuum and political dilemmas. Ironically, we are not independent enough to introduce some healthy economic reforms.
Our motherland has been gifted with fertile land, abounding natural resources along with enriched, genius minds to make best use of them. But due to sheer incompetence and ineptness on part of those at the helm, these invaluable resources remain unutilized. Resultantly, most of our youth, their minds and talents are not directed towards a path which may lead them to a brighter and enviable future. How ironic is the fact that we don’t have a consolidated system of governance to give a clear purpose of life to our youngsters. Our ‘visionary’ tilt, literally, is just for aid; not for trade and investment rather it is said euphemistically that Pakistanis want ‘Tr-aid’. What we direly need is to invest in technology for betterment of floundering and staggering economy. Economic growth rate for previous three years has been approximately 3% which is pathetic and heart-wrenching to say the least.
Presently, unemployment is the biggest hurdle in the way of development. Due to unemployment, events of street crime and robbery have been gaining ground and surging too. Many young graduates have been found guilty of robbery and involving in other social menaces. It is all due to crumpled and sick economy. Adding fuel to the fire are the increasing rates of electricity, which is going beyond the reach of the lower class.
Terrorism, extremism, ethnic and communal riots have jeopardized our peace, worsened our economy and have periled the integrity of the nation. All our trade links with neighbouring countries have been cut off and exports have reached new lows due to security situation.
IMF Deal: A Flawed One
Pakistan’s recent tryst with IMF is not satisfactory and is worsening the woes of our already wobbling economy. This deal has certain in-built faults and is a pusillanimous action on part of the government. The IMF programme comes with certain conditions such as increasing the rates of electricity, withdrawal of subsidies which will essentially increase the prices of the items of daily use. Regrettably, we have no paraphernalia to maintain balance for stabilization of economy. It is a well known fact that unemployment and inflation have reached at climax and people have been lambasting for unleashed surge of hike in prices of petrol and other necessities.
Resource Mobilization: A Panacea to Strengthen Economy
All ins and outs of economic agenda are prepared and manipulated by D-20 countries. They consider and rethink the pernicious economic history of underdeveloped countries and set new horizon of goals to get salvage from impediment in the way of economic growth and form distinctive set pattern of economy boosting rules.
There is no denying the fact that to strengthen the economy; firstly, there should be no anachronism and supine theory. But, Pakistan is in topsy-turvy due to economic degradation. So, policy of economy must be prepared by the “cream of the crop” with an ardent approach of pessimism. Otherwise, it may cause tense atmosphere and uncertain upheaval for economically depressed people. Moreover, outrageous passions of poverty-victims can cause further property and life loss.
Besides, Allah Almighty has blessed Pakistan with natural resources like coal, copper, iron, and molybdenum, another precious metal. Pakistan’s leadership should be proactive and must introduce a coherent and organized mechanism of good governance. Investing in resources is need of the hour.
It is high time to enhance skill power of our young generation by providing them technical skills. India in our neighbourhood is a world leader in the field of technology but, contrarily, we are lagging far behind. So, we should take concrete steps for mobilization of resources, for determination of administration and for uplifting of economy.
To improve the economic structure of the country, we must:
1) Prioritize the necessary equipment in each field and leave the unnecessary.
2) Invest more in natural resources, education, agriculture and industry.
3) Recognize that every investor, native or foreigner, is attracted if the government guarantees a safe environment. Hence, it is the utmost need of Pakistan to get rid from “war of terror” because our international trade has been severely affected by security threats.
4) For strengthening and stabilization of economy government should focus on alternative energy resources i.e. energy from wind (Cati Bander in Sindh Gharo and Hyderabad territory may be used to produce 20,000 MW energy from wind).
In a nutshell, for making Pakistan a top-notch economy, the government should collect tax especially from elites all over the country. Simultaneously, we should also prefer which is our real need and not that is just a luxury. Resource-mobilization is the single most important step that can bring favourable atmosphere and can regain economic stabilization.
The writer is a Khushab-based educator
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