KARACHI:
Across the world, countries primarily rely on their natural resources to utilise them for their economic gain. Pakistan has an abundance of several natural resources, but the government has failed to utilise them effectively. Like many countries, Pakistan is also faced with shortages of natural resources because of which it is required to import raw materials and products from other countries. Consequently, this has depreciated the currency and increased inflation.
Failure to utilise natural resources effectively will have a detrimental impact on the country’s economy as well as the livelihoods of the people. The relevant authorities must realise the need to use the country’s natural resources because it will enhance economic activity. Instead of importing raw materials, Pakistan will be able to export raw materials which will significantly benefit the economy.
More importantly, the government must regulate the use of natural resources because they are not limitless. Many countries around the world are already suffering from a depletion of natural resources. Careless and excessive consumption of resources can cause a range of problems including deforestation, desertification, etc. The consequences of depletion of natural resources will also contribute to global warming and climate change, which will pose severe problems for the upcoming generations.
Raja Yousaf Mehmood
Attock
Published in The Express Tribune, October 8th, 2021.
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