Saturday, 20 April 2024, 01:38:16 am

Analysts hope new national security policy will put economic development at its core
January 21, 2022

Najam us Saqib (Former Ambassador): The challenges and opportunities for Pakistan to enhance regional trade by virtue of improving ties with neighboring countries is an integral part of comprehensive national security policy. The borders of Pakistan in either east or west have been porous for many decades and this security policy has provided an optimal solution to pertinent regional conundrums. The unveiled portion of policy explicates vision that will help in devising policies on practical grounds. The traditional security concepts have been revisited in this document and economic security has been prioritized. The regional security complex is in a state of jeopardy as the Afghan issue is still unresolved. Peace in Afghanistan is synonymous to peace in the region. Pakistan and Afghanistan are on the same page and this statement can be substantiated by the extraordinary session of OIC. Both countries can yield maximum benefits from bilateral trade and regional connectivity but for that peace in Afghanistan is a prerequisite. Furthermore, the mega projects like CPEC should be revisited and all the fruits should not fall into the basket of China. Pakistan should determine its national interests and they should be pursued through a vigilant and pragmatic foreign policy. The comprehensive security policy encapsulates consolidated prism for all of these sectors. The trade war between China and the US will have covert implications for Pakistan. India is playing the role of a US stooge in the region and is trying to hijack mega development projects of China and Pakistan. Meanwhile, the recently introduced policy brief implies that Pakistan wants peace in the region. The international community should take notice of the Indian aggression, elsewise anarchy will prevail in the region.  

Masood Khalid (Former Ambassador): The comprehensive national security policy of the government had been long due and its final shape underlines all the important segments, including the economy. The non-classified portion of the document unveils that Pakistan will focus on materializing economic security of the citizens. Moreover, regionalism will be promoted that will complement Pakistan in boosting economic development at national and regional levels. India has always played the role of a spoiler in the peace and development projects in the region. Pakistan invited India at numerous occasions to resolve the territorial disputes, but New Delhi never reciprocated. The international community and the human rights watchdogs have acknowledged the Indian state sponsored atrocities in IIOJ&K. The chaos in the region is due to the extra territorial power politics where India is being mercenary for the US to contain the emerging China. Pakistan, on the contrary has opened avenues for peace and cooperation even with Central Asian states.

Dr. Salman Shah (Advisor to CM Punjab): There are numerous instances that imply that the economic policy of Pakistan is commendable. Pakistan has been ranked between top two countries who well-managed the pandemic while providing immunity to the economy. The value and supply chains have been kept intact in the agricultural, manufacturing and services sector amid strict worldwide lockdowns. The credit in the private sector has been increasing gradually and the business sector is flourishing. The GDP of the country that was in the negative has been rejuvenated to 5.37% which indicates that the government is implementing plausible economic policies. Pakistan is now moving toward another IMF plan to ensure economic stability in the country. The economic stability ensures conducive environment for business and growth. Inflation has been an underlying problem for our economy for a few years but people need to understand the dynamics of Pakistan's economy. The incumbent government has adopted a free float exchange rate that is market based which has led to the depreciation of rupee against dollar. The previous government had artificially maintained the exchange rate that led to the accumulation of foreign debts. Moreover, the global energy crisis has contributed to supply side inflation as Pakistan's industrial sector is reliant on imports. All these variables have led to inflation in the country which is posing difficulties for downtrodden segments of society. Still, the robust economic growth will ensure an increase in Purchasing Power Parity and Per Capita Income of the public. The pro poor policies even in such harsh economic times unveil that the incumbent government is determined to bring ease for underprivileged fragments of society.  

Dr. Shahid Hassan Siddiqui (Economist): The improvement in the GDP rate explicates that the country is on the track of development. Inflation has been long haunting the economic growth of Pakistan. Still, the government has managed to bring stability to the economy even in the tougher times of the pandemic. The issue and challenge of inflation can be coped only with a single solution that is improvisation in the taxation policies. The privileged segments of society should play a constructive role in curbing the issue of tax evasion. The principles of economics have nothing to do with the politicians and leaders. States that focus less on tax collection and redistribution are prone to collapse economically. The real benefit of increase in the GDP will trickle down to poor segments if taxpayers pay their dues honestly. Pakistan has zillions of unearthed resources, well established agricultural setup, and large scale industries that can help in boosting exports and decreasing imports. The comprehensive national security policy also validates that food security should be a priority of the government which shows that the basic commodities will not be imported in future. The requirements for SMEs also validate the fact that the incumbent government is determined to establish import substitution and export oriented industries. Such policies will eventually lead to an increase in GDP to around 8% certainly with ensured economic security of the nationals.