Dealing with challenges: Skillful economic management and multiple foreign policy options stressed

PESHAWAR: Speakers at a seminar here on Monday called for skillful economic management and multiple foreign policy options to deal with a host of challenges the country was faced with.

They were addressing the seminar titled “Pakistan’s Economic Crisis and Foreign Policy Challenges” which was arranged by Pakistan Council on Foreign Relations (PCFR). Dr Shamshad Akhtar, a former governor of the State Bank of Pakistan, and erstwhile ambassador Aizaz Ahmad Chaudhry were the main speakers.

Dr Shamshad Akhtar highlighted the challenges Pakistan had been facing on the economic front for years. She stressed the need for prudent and skillful economic management to deal with the uncertainties and risks Pakistan was faced with.

Aizaz Ahmad Chaudhry maintained that Pakistan is facing multiple foreign policy challenges that included navigating between the US-China rivalry, balancing between Iran and Saudi Arabia, Modi’s India, unstable Afghanistan and several non-traditional threats.

Shahid M Amin, PCFR chairman, said the economy and foreign policy were intrinsically linked with each other. He sugegsted that instead of putting all eggs in one basket, we should have multiple foreign policy options.

He said that Pakistan’s economic vulnerabilities have limited the options for dealing with challenges on the foreign policy front.Ahsan Mukhtar Zubairi, PCFR secretary, maintained that since its independence, Pakistan has faced a number of economic challenges, including soaring foreign debt, trade deficit, inflation, and depreciating currency.

The talks were followed by a question-answer session.The event was also attended by foreign consul generals, businessmen, retired ambassadors, academicians and researchers.