Rich in resources, poor in management

Pakistan is a nation blessed with abundant natural resources, from vast reserves of coal, crude oil and natural gas to picturesque landscapes that could sustain a flourishing tourism industry. However, wealth mismanagement has repeatedly hampered the country's ability to unlock its full promise and improve the quality of life for its citizens.

Recent reports indicate that Pakistan has identified new gas and oil reserves along its coastal areas, potentially positioning it as the fourth-largest holder of gas and oil reserves globally, after Venezuela, Saudi Arabia and the US. These resources have the capacity to strengthen Pakistan's economy, reduce its international debt and mitigate widespread poverty. However, the country's longstanding record of poor management casts doubt on whether it will be able to utilise these assets effectively for the benefit of its population.

One critical resource is coal, often referred to as 'black gold'. If properly harnessed, this resource could deliver essential services such as electricity generation and fuel for gas production, greatly enhancing the quality of life for millions of Pakistanis. Despite extensive reserves - particularly in the Thar region - these resources remain largely underexploited due to inadequate planning and execution.

Currently, Pakistan is burdened with a public debt of Rs81 trillion - something that that stifles the country's potential for growth and limits its ability to make autonomous economic decisions. The strong influence of foreign lenders over Pakistan's economic policies has further obstructed progress. Through efficient resource management and a focus on mobilising the skills of its people, Pakistan could emulate nations like China, Japan and Germany—countries that have successfully harnessed their resources to drive economic development.

Pakistan's northern areas are often described as an earthly paradise, overflowing with natural allure. However, these regions, which should be treated as the country's 'reserved diamond', have not been adequately preserved or safeguarded. Issues such as poor security, insufficient accommodation facilities and unchecked profiteering by local mafias have tainted the experience of tourists, leaving them vulnerable to exploitation. To capitalise on these valuable assets, Pakistan must take bold steps to secure long-term benefits. This involves enhancing security, providing adequate facilities and curbing exploitative practices that harm both visitors and the local economy.

Pakistan boasts exceptional natural beauty, with landscapes and historical sites that could attract global visitors. The country experiences all four seasons, making it an attractive tourism destination. However, poor infrastructure has hindered progress. Larkana's historic Mohenjo-Daro and Jhukar-Jo-Daro lack luxury hotels and security, as do sites like Ranikot and Kot Diji Forts. Gorakh Hill, with cool weather during Sindh's hottest months, faces inadequate road access and amenities, deterring tourists.

Balochistan, rich in copper, gold, and natural gas, could drive economic growth. With direct access to the Arabian Sea via Gwadar, the region has the capacity to become a trade hub, but infrastructure and security issues block progress.

For Pakistan to prosper, it must incentivise investment, improve security and create a stable environment for investors. Countries like Bangladesh, Saudi Arabia, and Turkey have successfully leveraged tourism and infrastructure despite having fewer resources. Their effective management and appropriate use of resources ensure prosperity both within the country and globally.

Pakistan possesses the resources and capacity to stand alongside developed nations, but it has long been hindered by poor management and insufficient support for key industries. To advance, Pakistan must focus on making more effective decisions that prioritise the well-being of its people. Through strategic investment in tourism infrastructure, enhancing safety and encouraging sustainable economic growth, Pakistan can harness its resources and shape a more promising future, otherwise it risks remaining dependent on foreign debt and languishing in stagnation, leaving its people without hope for progress.