KARACHI:
Looking at Pakistan’s journey towards embracing competition, one needs to acknowledge both progress and challenges. Competition, in its essence, is crucible where innovation is found, skills are honed and excellence is recognised. However, Pakistan’s path to competition is marked by systematic issues that impede its full potential.
One of the most prominent challenges is the presence of corruption and nepotism which undermine fair competition. Pakistan struggles with such issues in many sectors. Connections and bribes often hold more sway than merit and talent. When opportunities are monopolised by a few, it suppresses innovation and perpetuates inequality. These challenges need to be overcome through efforts to strengthen institutions, enhance accountability and promote a level-playing field for all participants.
Furthermore, Pakistan struggles with inadequate infrastructure and access to quality education and training. A skilled and educated workforce is essential for driving innovation and competitiveness in global arena. Also limited access to quality education and training gives rise to underperformance.
Additionally, Pakistan’s business environment is characterised by regulatory complexities and bureaucratic inefficiencies, which hinder entrepreneurship and investment. Streamlining regulation and fostering the culture of entrepreneurship are essential steps towards creating a more conductive environment for competition and economic growth. Geopolitical challenges and security issues also have an impact on competitiveness. Political instability and regional tension tend to dissuade foreign investment and disrupt trade.
In the light of these challenges, there is need for serious and concerted effort to address systematic issues and promote transparency and accountability. Pakistan possesses such inherent strength and opportunities that can enhance its competitive position. A young and energetic population, a growing middle class and strategic geographic location can fuel the country’s economic growth and innovation. Additionally, there is a need for collaboration between the private and public sectors, to identify and implement solutions that promote competition.
Ultimately, Pakistan’s path to competition is held by obstacles, but it is also brimming with potential. By confronting these challenges head-on and embracing a spirit of innovation, Pakistan can unlock its full potential and emerge as a competitive player on the global stage.
Muhammad Senan
Islamabad
Published in The Express Tribune, April 29th, 2024.
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