Over the decades, our economy has not been able to produce the desired results in terms of reducing poverty and unemployment in the country. Besides this, our successive federal governments have not been able to get the country out of the menace of years old foreign borrowing/aid, due to their lack of a clear and defined strategy. The production of our agricultural and industrial sectors has also not been up to the mark due to various reasons and strategies adopted by the successive governments. Various taxation policies in the country have also remained a source of criticism from many a quarter.
CPEC or no CPEC, more funds on education and health or defence, nationalized economy or privatized economy, direct taxation or indirect taxation, agricultural economy or industrial economy, foreign loans or self-reliance, more funds for human development or infrastructure development, more focus on foreign direct investment or local investment- all these are the questions, the answers of which vary from one political party to the other political party of the country.
In other words, all the major political parties of our country are not on one page regarding the construction and the shape of our economy, looking at the ground reality and the present state of affairs of the same. There is a greater need than all our major political parties (including the party in power) to sit together with good intent and sincerity, for presenting the best economic model and strategy for the nation, to steer the country out of the present economic crisis.
A charter of the economy should be signed by all the major political parties of the country, including the party in power. Within that charter, broader issues of our economy should be presented in detail besides agreeing on the strategy on how to work on these issues, for the possible short-term and long-term stability/recovery of our economy. This will give confidence to the ruling party, whereby it will face the least criticism from the opposition political parties, in the smooth running of its economic affairs.
The need of the hour, therefore, is that all the affairs of our economy should be managed with consensus decisions by all the major political parties. It will give stability to our economy besides giving it a great boost.
ABDUL SAMAD SAMO
KARACHI
