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June 24, 2019

The loan question

Newspost

 
June 24, 2019

This refers to the letter, ‘Where’s the appreciation?’ (June 22) by Egr Asim Nawab. The best policy for a nation is to remain within its means and seek a loan only when unavoidable. In the case of Pakistan, the priorities for the general public include clean drinking water, food, healthcare, quality education, affordable transportation, and shelter. However, the percentage of GDP in the budgets on basic needs has been abysmally low since independence.

Successive governments had been borrowing excessively for investing in certain projects for political gains. Every mega project carries some benefits, but it is a question of priorities for more urgent needs. Even if these projects were corruption-free, how would the huge loan with interest be paid back? Were any strategies in place to generate revenues to return the borrowed money? Political parties instead of striving for a zero-sum game should seek a win-win strategy to take Pakistan out of the quagmire of loans.

Dr Najeeb A Khan

Boston

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