All debt, no industry

It is not understood as to how Pakistan's financial health will improve without curtailing its massive borrowing, especially if it is not invested into viable projects that enable the country to refund such loans. Regrettably, the federal and provincial governments announce non-development related and politically motivated schemes involving billions of rupees almost every day. Another matter which needs immediate attention is the role of banks in improving industrial growth.

Evidently, banks appear to be reluctant to make long term investments in any type of industrial sector. Instead they prefer to invest in treasury bills to avoid risk. Since the policy rate has been reduced and is also expected to be further reduced, there should be a policy for the banks to invest more in different industrial sectors to improve the overall financial health of the country.

Khawaja Tajammul Hussain

Karachi