It is beyond understanding that the country’s poor economy, which can be blamed on many governments, but the gradual increase in political corruption is further perpetuating economic corruption.
It is a sign of the indifference of the rulers that the external debt is touching the heights of 130 billion dollars and at the same time the internal debt has become equal to about 137 billion in dollar terms, which means that the internal and external debt of Pakistan is around Rs63 trillion.
This country, which is rich in natural resources and its talented youths is engaged in showcasing their talents in the global dimension and because of the occupation of traditional, hereditary and elite politics of our country are deoruved of opportunities. Nepotism, bribery and favoritism are on the rise in different governments, the hardworking and talented people of the society have to flee the country to use their skills in other countries. No one can stop them from reaching higher positions on the basis of merit alone, but unfortunately, due to the poor policies of the rulers, it seems that there is no politics, no nobility, no ability.
بدن موجود لیکن سر نہیں ہے
یہاں کوئی بھی رہبر نہیں ہے
Our busy and defunct Prime Minister is using all his energy in the struggle to get assistance from the world, which is admirable in objective and environmental conditions, but it should be compared with the brilliance and dexterity of the Prime Minister that he as the Chief Minister used to show, there is no distant image of him.
It seems that leeches have increased around them who have been sucking the blood of Pakistan for a long time. I wish these people could be remedied.
During the Geneva conference, the loan and aid announcements of various countries cover about 10 billion dollars, but I saw during my time in the United Nations that in practice, if this money reaches 30 to 40 percent, it is considered as booty. This money has no significant role to play in supporting the economy but may still wipe some tears from the recent flood victims in the next 3 years.
The recent visit of the Prime Minister to the United Arab Emirates may be a support for Pakistan to take a few more breaths, in this we are certainly grateful to the rulers of the Emirates and Saudi Arabia, who have extended another billion to support our economy, but It should also be kept in mind that Emirates and Saudi Arabia have extended the loan period due to Pakistan for eight years and we have to repay this loan in a short period of time.
Shahbaz Sharif during his time as Chief Minister always emphasized the importance of one window for investment and during his diplomatic visit to my emirate, he always tried to give confidence to investors that you can invest. Do it and we will be your facilitator, but as an ambassador when I had meetings with the rulers of the Emirates or investors, they always complained about stumbling blocks during investment in Pakistan.
He used to say that more than 24 institutions in Pakistan go after investors, which not only discourages investors but sometimes investors prefer to run back.
The government does not spend any money in facilitating the investment of the investors. It only requires goodwill which the Shahbaz government or provincial government can easily do.
Here are a few suggestions to support the troubled economy of the country in a few weeks or months.
1. Overseas Pakistanis should be awarded historical certificates for sending money to the country through embassies and all those individuals who send more than 10 thousand dollars to the country should have special permission to enter the embassy. This experiment I did personally and it increased the remittances by 3 times. If the government seriously implements this proposal, it can increase domestic remittances by 5 billion dollars.
2. Emigrants should be given easy credit facilities. The hardworking patriotic Pakistanis living in the Gulf states send their labor money to their homes, so they sometimes suffer from lack of money to build or expand their homes, so if the government gives them some money as a loan of Rs. If given, this will be a great encouragement to the foreign exchange remitters and this move could bring about one billion dollars to Pakistan in the next few weeks.
3. Cooperative farming can also become an important tool to support the country’s economy. Millions of acres of government land are lying barren and deserted which can be reserved for overseas Pakistanis through advance booking with the help of FWO. About one billion dollars of capital can easily reach Pakistan from booking.
4. By activating more than 1500 vocational training centers we can make our workforce acceptable in different countries by getting global certification in a short time which will not only reduce unemployment but also help in increasing foreign exchange reserves. The reason for our lack of manpower demand is only certification due to which Philippines, Bangladesh and Nepal are ahead of Pakistan, but if we improve the certification process, these countries can compete.
If the government simplifies its complex procedure for investment promotion and provides more facilities to overseas Pakistanis, then in the short term, foreign exchange can be easily earned. If these suggestions are followed, there is no reason why the economic conditions of the country could not improve in 3 months.
To get the dear country out of this quagmire and to implement the above-mentioned suggestions, only passion is needed and I am sure that there is no shortage of passion in the talents and institutions of the country and nation, if there is a shortage, only leadership, There is a lack of planning, policies and seriousness which needs to be redressed.
Translated by: M.M. News Editorial Team
