It is worth many appreciations that present ruling leadership boldly expresses their candid views on foreign policy and economy fronts. Addressing business leaders at Pakistan Chambers of Commerce and Industry and students of Institute of Business Administration in Karachi, Foreign Minister Shah Mehmood Quershi has to painfully say, “Beggars are not choosers. Nations living on foreign loans and dons have no respect in the comity of nations. Strong foreign policy has linkage with strong economy.” The Foreign Minister enumerated the measures taken under economic diplomacy to make easy access to African and Latin American States’ markets for boosting exports. He also dwelt on the diplomatic efforts that have been made so far for highlighting the core issue of Kashmir and sanitizing the International community.
The bottom-line of the views of foreign minister obliquely refers to the apathy shown by the international community in general and friendly Arab countries to the situation that arose after the annexation of Indian held Kashmir because of their growing trade relations with India. The Arab countries may not come to clear and strong support of Pakistan in the next OIC foreign ministers meeting over the lockdown of Kashmir and atrocities being perpetrated on Kashmiri Muslims there.It was the indebtedness to certain oil rich Arab countries and economic compulsions that Kuala Lumpur summit had to be skipped, on which Prime Minster expressed his regrets for not attending that moot, which was aimed on exploring new vistas of expanding economic cooperation among seven Islamic Countries. In his recent visit of Malaysia, Prime Minister Imran Khan deplored the silence of OIC over Kashmir while speaking at Malaysian think tank. It is the trade interests of majority members of this organisation that they prefer not to offend India. It was Malaysian leader Dr. Mahatir Mohammad who did not bother about $6 billion palm oil exports to India while condemning the annexation of Kashmir and deteriorated human rights situation there.
Political stability with selfless leadership is the perquisite for making economy strong and self-sustained. The 18 years stable government of General Park Chung Hee in South Korea and 22 years previous rule of Dr. Mahatir Mohammad in Malysia tell this lesson. It merits mention that South Korea borrowed Pakistan's economic growth models of President Ayub Khan Era when this South East Asian country started its journey of economic development from scratches. In the 10 years rule of this great nation builder agriculture grew by 7 percent, while industry sustained a growth rate of 8 percent. The economy had achieved the takeoff stage and had been entering in the sustained stage of economic growth. The nationalization of all categories of industries and banks in Z.A Bhutto rule 1972-77 halted the forward journey of economic growth and thereby achieving ultimate prosperity of the people. GDP growth rate fell to 2.2 percent as mentioned in the Economic Survey of Pakistan books and statistical year books of those years.
The successive governments of feudal class dominated PPP and mercantile class led PML-N implemented skewed economic policies which left a legacy of stagnated agriculture and industry, unsustainable public debt, ballooned power sector circular debt and record swollen current account deficit. Manufacturing sector shrank under the burden of regressive taxes and high cost of energy inputs. Agriculture sector landed in perpetual crisis because of water shortages, and unaffordable prices of inputs. A legislation titled Gas Infrastructure Development Cess was passed and enforced in 2011, allowing the fertilizers companies to collect this levy from farmers which abnormally jacked up the price of fertilizers. The outstanding defaulted amount against the fertilizers companies has reached Rs.534 billion by June 2019 which had not been deposited in the national exchequer. The present government made a decision to waive off Rs.210 billion to these companies but to hastily withdraw the decision taken at the behest of vested interest group after scatting criticism in print media and on electronic media.
Efforts which are being made for preferential access to new export markets are encouraging. But it will achieve the desired results only when the value added export products are competitive in terms of quality, reliability, and price.
