LAHORE, Sept 27: There is a clear national consensus on the fact that the internal threat of extremist militant groups is a major obstacle to Pakistan’s economic growth, says a prominent economist.
Delivering a lecture on “Economy of Pakistan - Present Outlook, Prospects and Compulsions for Future” at the Corps Headquarters Auditorium here on Thursday, Dr Akmal Husain said the centre of gravity of global economy was fast shifting from the West to Asia.
He said Pakistan being in the middle of emerging vibrant economic giants like China in the north and India in the east had a unique opportunity to play a pivotal role in the new economic constellation. Keeping the emerging economic scenario in mind it is all the more important for Pakistan to get onto a new trajectory of economic strength, national integrity and security of its people, he added.
Dr Husain said fanatics were attempting to carve out spaces in the geographic, political and social structure of Pakistan and threatening its integrity and existence.
He said that success in countering such anti-state elements would require a balanced combination of military force and economic and social development. Apart from battle against internal non-state entities, he said, it was equally important to secure peace with all neighbouring states because secure borders would allow the government to focus on the enemy within and external peace would help sustain economic and social development.
The economist said the history of modern nations had shown the defence capability of a country depended on its economic growth. High growth of gross domestic product combined with high exports, composition of industries, linkage between science research and industry, industrial production and political stability are important factors contributing to economic growth, he added. Dr Husain said Pakistan would have to build institutions to restructure the growth process, improve democratic polity, rule of law and educational institutions and establish a framework for lasting peace with its neighbours to fight extremist groups. Corps Commander Lt Gen Shafaatullah Shah thanked Dr Husain for his lecture.