Flying without wings

The prime minister has inaugurated an economic plan called Uraan Pakistan to revitalise the economy. While one wishes him the best of luck, it is hard to convert a consumer- and import-oriented economy into an industrialised, export-based one. This is without even mentioning energy crises, internet disruptions, excess red tape, a labyrinth of official hurdles, political uncertainty, law and order and terrorism, political and institutional consensus and other huge challenges that the PM and his economic team will need to overcome in order to implement their vision.

Since the creation of Pakistan, ambitious economic plans have contributed little to sustainable growth. The inflow of dollars during the cold war and war on terror eras resulted in some uneven growth, but, as soon the country lost strategic importance, the economy faced a bust phase. The fact that we have a coalition government makes it even harder to evolve a new economic consensus. But, for the sake of the country, it is hoped that those in charge can put their party and personal interests aside, for once. Otherwise, the Uraan Pakistan plan will remain like a bird without wings.

Gulsher Panhwer

Johi