The Operation Bunyan Marsoos (OBM) concluded with a decisive victory for Pakistan. The armed forces' zeal and unwavering commitment to protecting the motherland thwarted all attempts by adversaries (India and Israel). Pakistan has once again demonstrated its ability to be a formidable power, possessing both the will and the capacity to safeguard its sovereignty and interests.
This reinforces the fact that in challenging times, Pakistan achieves remarkable feats, and Pakistanis are a steadfast and resilient nation. The Pakistani nation has demonstrated this repeatedly, from the 1965 war to the 2022 flood. Thus, no one should doubt the ability or resolve of the people and the State of Pakistan to defend its sovereignty and interests.
However, the zeal and commitment were not without wisdom. It is apparent from the decision-making, observance of merit, appointment of the right person for the right job, and establishment of the chain of command. for example, the army, air force, and navy are always led by professional and brilliant soldiers from their respective fields. it never happened that a navy sailor led the air force. the observance of merit and commitment to the right person for the right job has turned the armed forces into a formidable power and contributed to remarkable achievements.
Pakistan needs to carry the same mentality, policy, strategy, and commitment to turn around the economy.
Firstly, apply the policy of the right person for the right job. In pursuance of this policy, Pakistan needs to entrust economic planning and management to economic professionals with brains. They are trained to formulate and oversee economic strategies. A bird's-eye view of global economic institutions, as well as national ministries and departments, clearly indicates that economists lead the charge in driving economic progress. Unfortunately, in the case of Pakistan, the situation is quite different. Economists are often sidelined, while those outside of the field frequently manage economic affairs.
The Special Investment Facilitation Council (SIFC) serves as a prime example in this regard. SIFC is an excellent and timely initiative; it was much needed. However, its execution falls short. Policymakers have overlooked the importance of selecting the right people for the right jobs. SIFC has been staffed with bureaucrats and military personnel who possess little or no understanding of the economy or its dynamics. Consequently, after more than two years, aside from a few projects, SIFC has struggled to deliver on its perceived objectives. The finance ministry offers another prominent example. It is often led by chartered accountants and bankers who are not trained to plan or manage the economy.
Second, indigenous wisdom and local experts, who are working within the system, should lead the development of economic policies and plans. They may not be good at speaking English or giving fancy presentations, but they know the economy better than anyone else. They have devoted their lives to understanding and operating the economic system during its most challenging times. They are aware of the strengths and weaknesses of Pakistan's economic system.
Unfortunately, the Pakistani elite do not like them and discourage them. The elite enjoy listening to fancy presentations and fluent English and are impressed by international organisations' tags, such as the World Bank and the International Monetary Fund (IMF). Thus, they love to import expats and consultants. The expats and imported consultants do not fully understand the ground realities, weaknesses, and strengths of Pakistan's economic system. They only give fancy slogans or do marketing for foreign companies. They are selling false dreams of entering the tertiary economy by bypassing the secondary economy, which is not possible. Unfortunately, our elite is happy with such slogans.
Third, before devising any policy or plan, policymakers and planners must have a strong understanding of the ground realities. It must be a prerequisite for policy development. For example, these days, every expat and imported consultant is talking about technology and urging Pakistan to venture into it and make it a leading area of work.
There is no second opinion that Pakistan must venture into the technology field; however, it should have a place on the priority list, given its role in the economy and Pakistan's economic status. There is no harm in dreaming big, but we must also remember that the execution of policies and plans is done based on ground realities, not fancy slogans.
The ground realities indicate that Pakistan is not a major producer of technology, especially as it lags in the production of hardware such as machines, laptops, satellites, or mobile phones. Pakistan is only a consumer of the technology, and expats and consultants advise them to buy technology from global companies.
Furthermore, the analysis of ground realities suggests that, at present, the strength of our economy is based on agriculture, minerals, livestock, tourism, and defence products, among others. Thus, we need to focus on modernising agriculture, developing an agricultural and livestock value chain, and building markets for defence products. Simultaneously, Pakistan needs to work towards transitioning to a secondary economy by fast-tracking industrialisation. The transition will also give an impetus to technology development. Unfortunately, we are not doing it. We are blindly running after the fancy slogans raised by expats or imported consultants.
Thus, if Pakistan wants to grow, Pakistan needs to change. If Pakistan successfully changes, then Pakistan can turn around its economy. Fortunately, we have an excellent opportunity to do so through the China-Pakistan Economic Corridor (CPEC). The CPEC has all the ingredients that can help Pakistan revive its economy and pave the way for sustainable development. Following the successful completion of the first phase, CPEC has now entered its second phase. The long-term document of CPEC shows that industrialisation and agricultural cooperation would be driving forces during the second phase. Moreover, Pakistan and China have strengthened their science and technology cooperation to create and enhance Pakistan's technological base. These three areas of collaboration can fast-track the transition to the secondary economy and pave the way for the tertiary economy.
However, to fully benefit from the CPEC and leverage our strengths, Pakistan must address the areas discussed above. Let's try to understand the importance of these areas or required interventions through an example. For instance, consider a scenario: can Pakistan appoint a skilled doctor to the post of air chief marshal instead of a professional soldier from the Pakistan Air Force? If Pakistan had appointed an engineer as air chief marshal, what would have been the status of Pakistan in the recent war?
During the recent conflict, the air force was led by a career soldier who dedicated his life to the Pakistan Air Force. Now, imagine another scenario: was it appropriate to hire a foreign consultant, such as someone from the American Air Force, to lead the Pakistani Air Force by arguing that he leads the most advanced and largest air force in the world? No, not at all, because he does not understand the Pakistani Air Force and lacks the passion to serve the country. The same is true for the economy.
In conclusion, based on the above discussion and examples, three suggestions can be listed: hiring the right person for the right job, stopping the import of expats and consultants, and making decisions based on ground realities.
THE WRITER IS A POLITICAL ECONOMIST AND A VISITING RESEARCH FELLOW AT HEBEI UNIVERSITY, CHINA
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