‘Economic growth not possible without peace’

LAHORE :Economic growth without good governance and peace is impossible in any country while in democratic countries public anxiety and instability are controlled before reaching intensity while there is a need to settle the political economy in Pakistan.
These views were expressed by experts in the Jang Economic Session on ‘how to develop peaceful environment and economic growth’. The panellists were Dr Pervaiz Tahir, Khawaja Khawar Rashid, Anela Saleem, Khalid Piracha, Ehtesham Rabbani, Raja Hamid Riaz and Mian Fazal Ahmed while the session was hosted by Sikandar Lodhi.
Dr Pervaiz Tahir said current economic situation was not new rather whenever political change started such issues emerged while difficult time could pass with effective economic measures. He said all political parties were active in achieving their goals while there is a need to address the political economy rather than conventional economy.
He believed that local issues could be resolved at local level while lawlessness has included in lifestyle. He said lack of implementation of court decisions is the real issue instead of sit-ins while everyone is not doing his duty rather creating disturbance bigger than its size. He believed that debt burden could be reduced when new loans would not be given to Pakistan.
Khawaja Khawar Rashid said every sector should play its role in economic growth and political stability as economy had suffered over USD 100 billion loss due to past lawlessness and more than 70,000 Pakistanis were martyred. He said Pakistan has emerged as an important player in the world economy through CPEC projects so political instability should be avoided. He said lack of implementation of law is society crisis.
Anela Saleem called for peace creation as without peace socio-economic situation could not be improved. She demanded provision of equal opportunities to women for jobs, business, vocational training and technical education to make them useful citizens of Pakistan.
She called for controlling the corruption and ensuring basic needs of life to public for durable peace.Khalid Piracha said without peace growth was impossible while Italy and Malaysia were examples of it. He said strong institutions are required for socio-economic growth and peace while political sit-ins are damaging the image of Pakistan globally.
He believed that targets of CPEC projects could not be achieved without peace while lawlessness exists in corrupt societies so the rule of law should be established.Ehtesham Rabbani said that Pakistan should not be compared with established economies as it is in growing phase. He said ping pong between dictatorship and democracy interrupted the economic growth. He believed that strong economic system can ensure facilities to public; otherwise, collective dependence increases. He demanded the the protests and sit-ins be confined to some limited place only.
Raja Hamid Riaz said traders and business community were adversely affected with ongoing economic situation. He said public purchasing power was shrinking which resulted in closure of small shops and businesses. He said corrupt people were deputed for tax collection which increases problems for traders while effective tax collection was impossible without easy taxation system. He suggested limiting the protests and sit-ins to some designated area and the media should not cover any other protests.
Mian Fazal Ahmed said that required peace for economic growth was affected during the last two years while debts are growing and stock market was collapsing, economic growth was stagnant and development projects were delayed. In such situation, all political parties should play their role in growth by developing a political working system, he observed. He demanded the parliament and election commission to play their role in it.