LAHORE, Nov 6: Alleviation of poverty and welfare of people are the major themes of Allama Iqbal’s economic thought which is as valid today as it was in his times.
Former Punjab University vice-chancellor and economic expert Dr Rafiq Ahmad made this statement while delivering a special lecture on Allama Iqbal’s economic views at a meeting held by the Nazaria-i-Pakistan Foundation and Pakistan Movement Workers Trust in connection with Allama Iqbal’s 125th birth anniversary celebrations here on Wednesday. The meeting was presided over by former caretaker prime minister Malik Meraj Khalid.
Dr Rafiq said Iqbal was generally known as a poet, philosopher and political thinker but his first book on economics called Ilmul Iqtisad contained his revolutionary economic ideas, which he further expounded in his later works, particularly when he entered practical life as a member of the Punjab legislative council where he forcefully advocated the cause of the poor, landless tenants and workers and strongly opposed concentration of wealth in a few hands. He was against capitalists as he thought that they were selfish and exploited the poor.
For economic progress, Iqbal laid down three basic principles: acquisition of knowledge and necessary skills, family planning and elimination of the element of selfishness which he believed was the main cause of economic imbalance in the society. That imbalance could be removed if there was spirit of sacrifice of personal interests for public welfare.
He said Iqbal’s concept of a strong relationship between economic progress and social development which he presented less than a century ago, had been upheld and endorsed by modern economic experts.
He said a new concept of economic development emerged after the World War II which laid emphasis on interference of the state in the economic activities of a society to save the people from hunger, ignorance and disease caused by blind application of the ruthless laws of supply and demand and free market economy.
Dr Rafiq said the economic structure of a society had two aspects, external and internal. The external face was visible in the high rising plazas, intense economic activity in commercial centres and well-built roads and motorways. The internal aspect was the soul of the structure which in the absence of necessary measures for poverty alleviation and well-being of the people, caused disease, restlessness and frustration. “You can see the fate of the Soviet Union which collapsed as a result of frustration and unrest among the people despite the fine exterior of its economic structure. It was this emphasis of Iqbal on internal structure of economy which could create a balanced development of society and prevent the rich from becoming richer and the poor from becoming poorer.
He said the phenomenon had occurred during the Ayub era in Pakistan when the external structure of the national economy was developed with industrialisation and intense commercial activity but no attention was given to satisfy the soul of the structure. This made the people groan under poverty, price hike and unrest. The result was not only failure of Ayub regime’s decade of development but the debacle of East Pakistan.
He said Iqbal also desired reconstruction of Islamic jurisprudence (Fiqah) as he believed that enforcement of Islamic law could ensure economic rights of the people and provide for their basic needs. This he had mentioned in his letters to Quaid-i-Azam, which he wrote one year before his death. For this purpose he emphasised the need for Ijtehad to enable the Islamic Shariat to meet the changing requirements of the Ummat.
For alleviation of poverty, Iqbal suggested that the youth should be imparted vocational training to make them stand on their own feet, women be educated, NGOs be set up for welfare of the people, industrialisation be pursued on the Japanese pattern and drugs and social evils be eliminated.
He said that for Iqbal, the main reason for backwardness of the people of the then British India was ignorance, western control on trade and industry, population growth and low value of Indian currency. Iqbal wanted economic relations with the Central Asian states, which have now been institutionalised as the ECO. Iqbal also wanted that the land left uncultivated by feudals should be taken away and given to landless peasants. This measure alone could help end feudalism in the country. He also suggested exemption of land revenue for up to five acres.
He also wanted imposition of Rs20,000 to 30,000 inheritance tax on the property of a person on his death. As a member of the Punjab legislative council, Iqbal opposed heavy expenditure on bureaucracy and other unnecessary expenses which he thought were the main cause of budget deficit.
Malik Meraj Khalid said there was great need for implementation of Allama Iqbal’s economic thought to change Pakistan’s economic system for the better. He said time had proved that solutions suggested by Iqbal could meet the present day needs. He said economic experts should give serious thought to Iqbal’s economic views while framing economic policies of the country.