- About the reality, though?
Full marks to Senate Chairman Raza Rabbani for that fitting response to US Vice President Mike Pence’s ‘notice’, for laying it out plainly that Pakistan was not in the habit of “taking notices” from anyone. Of course the Trump Administration would have factored in just such a response from Pakistan. It is, after all, quite adept at handling foreign policy criticism. Yet not long after the speech, and subsequent appreciation from participants at the first six-nation Speakers’ Conference in Islamabad, will come the realisation that Pakistan is sixth, after all, among the top recipients of US aid – approximately $750m a year. Chairman Rabbani will not be the one explaining it, ultimately, but Washington’s nod is also crucial for favourable and timely programs with IMF and other IFIs.
Rabbani also reminded the US about its ‘blunder’ regarding Jerusalem. Pakistan was, of course, among the overwhelming majority that rejected the move at the UN, despite Washington’s warnings. However a country with the highest fiscal deficit in its history, and with no means of addressing it except relentless borrowing, does not make the most convincing case of standing up for its “sovereignty”, despite Mr Senate Chairman’s brave, and fluent, effort.
Perhaps now, when our “sovereignty” is so openly put on “notice”, is a good time to take stock of our own internal situation. We have become so addicted to borrowing that even the presidency is run on borrowed money. And, of course, we borrow more to make repayments. The government also, always, dilutes whatever liberal monetary policy is on offer by borrowing from the local market as well, and crowding out private investment. Little surprise, therefore, that production has never taken off in a manner to impact exports. If Pakistan is to really, meaningfully, rebut offences like this “notice”, it must first at least become self-sustainable. And that realisation is still missing form our politicians’ actions, even if not from their rhetoric.