Lessons to learn

Pakistan has always received a large amount of foreign aid which was used by the ruling elite on the import of luxury items. Countries with almost negligible natural reserves, like Japan, are leading economic power. This is because they invested in human resource development. Their GDP is double than that of major oil producing nations.

It is in the nature of traders and businessmen to invest in projects with attractive returns and least taxation. In the past, such short-sighted strategies led to the shutdown of local industries. If we want to improve our economy, we should strengthen our domestic industry and take steps to be self-sufficient.

Malik T Ali

Lahore