|
Pakistan
Needs New Economic Thinking
 Pakistan
needs to give a serious review to its economic policies. The
economic disaster Pakistan is going through is the net result of
60 years of misplaced economic policies. Since creation of
Pakistan, the economic managers and policy makers based economic
growth model more on foreign aid, loans and investments and less
on exploration and stimulation of internal economic factors.
These economic priorities were aimed at
making Pakistan an attractive country for foreign powers; not
knowing, foreign powers infuse money in other country’s economy
in persuasion of their own economic, geo-political and
geo-strategic interests.
Unfortunately, under general Musharraf,
consecutive administrations implemented this economic philosophy
to its max. Shaukat Aziz, an agent of international imperialist
forces, practically demolished or tried to demolish all
fundamental components of Pakistani economy.
The destruction of electricity supply sector
is prime example of Shaukat Aziz’s intentional efforts to
destroy Pakistani economy. Now, he is saying “constant
electricity supply is necessary for economic development” is
what we said many times during his premiership. We used this
argument to defy his toll claims about economic development.
After destruction of internal basis of
Pakistani economy, he turned this economy into a consumer
economy which basically means strengthening the economies of
other industrial countries. Unfortunately, the sad part of this
development of consumer economy is Pakistani economy is facing
double jeopardy because most of the items infused in this
economy need constant refueling or replacement of components.
In order to get out of current economic perils,
Pakistan needs to reorient its economic policies.
The principle Pakistan needs to use for
reorientation of its economic policies is: less dependence on
foreign loans, grants, subsidies and investments, and
galvanization of internal economic components in agricultural
and industrial sectors. Apparently loans, grants, subsidies, and
investments are different words, but fundamentally they have the
same effects on host economies and reap same fruits for donor
economies. The problem with Pakistan’s policy makers is they
pick-up different mantras and then keep repeating them until
they are dropped dead. Foreign loans, grants, subsidies, and
investment are such mantras which Pakistani policy makers are
parroting for the last sixty years. The repetition of these
mantras has eliminated their abilities to build any other
economic model for the country. Consequently, Pakistani economy
has become addicted to loans, grants, subsidies and investments.
This addiction is so chronic, Pakistani economy cannot function
without constant supply of these financial medications.
In order to build healthy economy, Pakistan
has to break this addiction. We have to end dependence on loans,
grants, subsidies and investments and build economic model which
should revive Pakistan’s ailing economy.
We should create an economic environment in
which common Pakistanis set-up small agricultural and industrial
units, local consortiums should set-up large agricultural and
industrial units. Instead of importing consumer goods,
manufacture such goods by setting up cottage industries
throughout the country. Develop efficient public transportation
systems in big and small cities, end USV culture, end dependence
on Middle Eastern oil. Build lot of small dams for creation of
hydro power to meet the needs of industrial, commercial and
civil sectors. Wherever possible, use wind driven turbines to
generate electricity. Particularly coastal cities can become
self-sustaining by using wind driven turbines.
Create man made lakes throughout the country
in the flood areas. Don’t let millions of cusecs of water flow
to the sea. These water reservoirs should be used to fulfill
agricultural needs.
Do not send out delegations to beg for loans,
grants, subsidies and foreign investments. Send delegates to
look for trade opportunities. Minimize your imports, maximize
your exports, and use only indigenous resources to develop all
these sectors. Do not look for any type of foreign help.
Pakistanis are quite capable people, they can make anything
happen.
With all this, encourage simple life style
throughout the country at all levels. Adopt simple values,
follow plain truths, and standardize various aspects of social,
cultural, commercial and economic activities according to those
simple values and plain truths.
Pakistani
society’s movement in this direction will help Pakistan become a
vibrant, self-sustaining and healthy country. Concerted efforts
in these directions will avert deleterious trends and put the
country on the road to prosperity, peace and tranquility
| 
