Financial discipline

Letter September 05, 2024
Financial discipline

KARACHI:

Pakistan's ongoing economic crisis demands a fundamental shift in government priorities. It is time to move away from extravagant projects that drain foreign exchange reserves and instead focus on financial discipline and austerity. The obsession of our ruling elite with replicating the Dubai model must be abandoned. While the UAE has successfully transformed barren deserts into thriving urban landscapes, this was only possible through strict law and order and a conducive environment for investment — conditions that are currently lacking in Pakistan.
Pakistan is blessed with fertile land, rivers and natural resources. Instead of focusing on sustainable development, our leaders have prioritised projects like the construction of artificial lakes on fertile land or the replacement of Walton Airport for commercial ventures. Such decisions defy common sense, especially when millions of Pakistanis are deprived of basic necessities like clean water and education.
It is imperative that the federal and provincial governments stop wasting billions on needless perks and privileges for the elite and instead invest in the well-being of the population. Priority should be given to providing subsidised education, healthcare and vocational training to those who need it most.
Ali Malik Tariq
Malaysia