Looking past the gloom and doom
We appear to have reached a point where only tales of disasters, negatives and bad news are of interest. These are embraced with open arms and the day begins with negative expectations; all the good around is eclipsed with this unbelievable mindset. It is as if we are willing ourselves into nothingness.
Pakistan is endowed with the greatest natural endowments possible. What don’t we have? We have a fertile landmass, we have untapped mineral treasures, we have a coastline, we have a mighty river, we have an industrious population. The list is endless. We have assets that other countries just dream of.
With all this, why, even now, is political rhetoric based on the tribulations around us? Given the need for developing untapped resources to create job opportunities, raise the standards of living and allowing the people to reap the benefits, one would believe that the massive energy, spent in gathering hordes of people only to scream vitriol against existing governments and leaders, would be used instead to promote and project plans to harness and develop. Not a word of Pakistan’s positive attributes is heard these days.
In this backdrop, it was invigorating to hear Dr Hafeez Sheikh at the Karachi Press Club last weekend. He was positive without ramming it home, in his own quiet, inimitable style. A style perhaps politicians and debaters could benefit by adopting.
Pakistan is in transition was the main theme. It’s true! After ten years of military rule, democracy has returned. This has given vent to incarcerated frustrations. However it is the peoples’ job to ensure that democracy is not derailed, instead it is fortified. The benefits will accrue. It may take, perhaps, more time. The promise of irrevocable exercise of free will is a massive incentive. Patience may not have proven to be a virtue in the Pakistan context, but right now only tolerance will allow this basic right, seized from reticent sources, to be sustained.
The state of the economy inherited by democracy was beset with serious flaws and on the verge of a meltdown. Today, while it remains fragile, indicators project a more positive outlook. Exports last year were the highest at $26 Billion, similarly remittances reached a record high and foreign exchange reserves achieved comfortable status. Internal revenues have recorded an all time high in the last five months, PKR 640 Billion at 28 percent higher than in the corresponding period.
Dr Hafeez deliberated at length on the fact that public sector corporations continued to heavily undermine development by feeding on huge financial resources. Improved corporate governance and involvement of the private sector is an absolute essential. The subsidy on electricity has cost the government PKR 3 Trillion in the last 4 years. In effect, energy is being sold at a cost lower than it is generated, a burden that the government can no longer bear. The solution for this is improved operational efficiency and a better oil-fuel mix to ensure optimum economy. Steps have been initiated to address these issues.
Despite the fact that devastating floods had caused a loss of $10 billion and hit the GDP by two percent (an effect further exacerbated by rising fuel prices), the Benazir program for the poor had been provided PKR 50 billion under a cash transfer scheme to alleviate the misery.
Although he exercised the required caution in commenting on matters relating to foreign affairs, the US in particular, he did assure that the impact of disruption, if any, of aid would be minimalised through efficient resource management. Referring to the country’s security, he maintained that this is the priority and that funds would be diverted from any or all sources to ensure adequate funding for this purpose. He sought unity among all national institutions to formidably face the challenges confronting us.
The current economic situation facing major world economies has forced closure of many prime international corporations, banks and industries. Pakistan must create the atmosphere conducive to investment.
Listening to the confident doctor in front of the nation’s press corps, one realised that there is stuff going on which is unfortunately not being presented to the people. A couple of the papers, both English and the vernacular, provided good coverage and a couple of television stations did the same. However, a statement of this importance needs to be played and replayed as are the negatives incessantly.
While the steps initiated are positives, they must be termed as first steps in the right direction. Resources both human and financial require serious review. The country’s image needs complete refurbishment. I am dismayed by a BBC documentary in which Pakistan has been termed a “pathological liar”!
There is a visible reticence to keep good people out and promote favourites or, we may even say, cronies. Whatever light there may be is darkened by stealthy shadows. Just as the people are required to exercise patience, politicians are required to review positives and the outside world to consider Pakistan’s real term assets for investment, the deployment of outstanding people is a prerequisite for the corporate efficiency the finance minister stressed upon.
Certainly the ways can be found and the light enhanced but there must be will. This is what the people and democracy expect.
The writer may be contacted via e-mail at imranmhusain@gmail.com