Pakistan government has also embarked on pursuing laissez-faire agenda with the hope that it will rejuvenate economy.
SIALKOT: The inherent wisdom of globalisation as the only panacea for all the economic ills is taken for granted and no serious attempt has ever been made to critically evaluate its pros and cons.
Trade agreements are being concluded between developed and underdeveloped countries but the prime beneficiaries of free trade and deregulation are multinational corporations. These corporations exploit resources in the developing countries in which they operate and also distort regional identities among their population by promoting a Western consumption-driven culture. This mass consumption hastens the depletion of the world’s natural resources and also disturbs the relationship between man and land.
The Pakistan government has also embarked on pursuing this laissez-faire agenda with the hope that it will rejuvenate the economy. For this purpose, several public sector corporations will be privatised and hundreds of billions of subsidies will be slashed. The latter is particularly something that a country like Pakistan should not adhere to because a large chunk of its population needs some kind of assistance for essential items such as food and fuel.
Advocate Tayyab Butt
Published in The Express Tribune, August 19th, 2014.
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