KARACHI:
In 2023, Pakistan’s GDP declined to $346 billion compared to 2022 when it was $353 billion, while the industrial growth declined to 2.94 per cent from 6.83 per cent. The agricultural growth rate also went down the hill to 1.55 per cent from 4.2 per cent. This downturn of the growth rates of key sectors of Pakistan indicates the country’s path towards an apocalypse. What count towards the economic plight of Pakistan are political instability, lack of inclusive and effective policy-making, populist schemes and mismanagement of resources.
The responsibility of bringing a detracted country back on track lies on the shoulders of the current political leadership. The new government is a combination of multiple political parties exhibiting great potential for improving the country’s politico-economic conditions through co-operation. It is not impossibility, as the history has witnessed precedent co-operation like the Charter of Democracy back in 2006 leading to the widely appreciated 18th Constitutional Amendment. A similar path could be followed again to strengthen democracy but this time through economic uplift. This could be done by diluting inter-party divisions and collective decision making for political stability. The political stability would, in return, allow for wise rather than populist policy-making. Moreover, it will help in sane utilisation of Pakistan’s limited resources.
Contrarily, when only one party forms the government the chances of co-operation are low due to the ruling party’s monopoly over decisions-making. Therefore, the amalgam of parties could be advantageous than ever if used wisely as it offers parties with divergent interests to come on the same page and join hands for the country’s prosperity. Political leaders should take this aspect into consideration before defining their posture in current political dynamics. However, if egos supersede national interest, apocalypse will be the fate of the country.
Nabgha Rasti
Sialkot
Published in The Express Tribune, April 15th, 2024.
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