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Economy in the dock

Economy in the dock

The government ministers never feel a tinge of conscience when they lie to the nation about so-called economic development of the country. Since the present government came to power three years ago, exports started falling, industry began declining and debt burden is ever increasing. People are constantly being told that good days are ahead when electricity supply will be improved, per capita income will increase and Pakistan will become economic tiger. However, the government has failed to fulfill any of its promises. The other day, Federal Minister for Planning, Development and Reform Ahsan Iqbal expressed the government’sresolve to turn around the economy and turn Pakistan into a stable and progressive country. No one dared asking the minister how the government will be able to do it.A loan programme hardly finishes when negotiations start for another loan programme. The ground situation shows that utility of loans is zero as most of the money goes to unproductive sectors. The economy of the country has been enmeshed in vicious circle of loans and debt servicing.

However, the government ministers are still busy in promising the nation a better future. Talking about the 15 years Agenda for Sustainable Development, Iqbal depicted a rosy picture of the economy when load shedding is still haunting the domestic and industrial consumers.It is a mystery how the government will fulfill its commitment to build resilient and modern infrastructure and will improve the quality of life of the people by providing them better health and education facilities. Experts depict bleak picture of the economy in view of failed economic policies.The minister, who is also in charge of the China Pakistan Economic Corridor, eulogized the government efforts to enhance transport and connectivity within various regions of the country. No doubt there are some goods works in the credit of this government, but most of the time things go out of its control due to lack of coordination within the official hierarchy. Pakistan has the best geographical location and can act as the engine of growth for the countries in the region.

As the population of this region is growing, fast track policies are required to be adopted and implemented. The economic corridor cannot resolve all the economic woes of this country alone. The government will have to be proactive to transfigure the lot of this nation.