Stabilising Pakistan`s economy

Published April 3, 2010

MR Shahid Javed Burki has rightly pointed out in his article (March 16) that “we can't continue to depend on foreign largesse to finance economic development and, at the same time, crave for an independent foreign policy. To be independent in foreign affairs, a nation has to be self-reliant”.

Despite our repeated claims to break the bagging bowl, we have been going around the world begging donations to put our economy on an even keel but without any long-term success plan.

As a result, donor institutions dictate their own terms and conditions and we have to bow down risking our sovereignty. Instead of exploring our indigenous resources towards self-reliance, our leadership finds it easier to hanker after donations from abroad.

One wonders why the following simple measures are not being enforced to improve our economy and make it independent of foreign aid

(1) It is now vociferously demanded that all Pakistanis who have their wealth abroad should bring it back — no matter they have paid or not paid income tax on it.

(2) All high-ups in the government, feudal lords, industrial barons and others must pay income tax honestly. At present, only salaried persons, particularly government employees, are paying full income tax.

(3) Members of parliament who are well-off should not take salaries from the public exchequer, as had done the Quaid-i -Azam and Dr Mubashir Hassan.

(4) The government at all levels should reduce its expenditure and try to keep its activities within budgetary allocations.

(5) Overlapping or redundant departments / divisions should be abolished or rightsized to curtail unnecessary expenditure.

The patriotic people of China and Malaysia brought back their money to stabilise the economy of their countries. The super-rich of Germany had asked their government to take away their surplus wealth which they did not need, for the sake of improving their country's economy. If others have done it, why not Pakistanis to rid their country of the humiliating begging bowl?

It may be recalled here that the cabinet had approved 'major austerity measures' on Dec 17, 2009, including 40 per cent reduction in foreign visits by the President and the Prime Minister, reducing utilities expenses of the Presidency and the Prime Minister's House by 25 per cent.

Also, it had promised to curtail the number of ministers and divisions, to stop performance of Haj at government expense, etc.

The Prime Minister was also supposed to set up a committee to formulate short-term and long-term strategies to ensure effective implementation of the approved austerity measures. Nothing has been heard about further progress in the matter.

M. ALEEM SHAIKH
Karachi

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