‘Foreign policy to remain constrained if dependence on foreign aid, loans continues’

The foreign policy of nations will remain constrained if they keep depending on foreign aid and loans, observed Dr Syed Akbar Zaidi on Tuesday.

Addressing the third Sheikh Mutahir Ahmed Memorial Lecture Series at Karachi University, he said that fact that we still are unable to improve our economic situation is so unfortunate.

We ask Unicef to provide money to administer polio drops and also ask the United States of America and China to provide Covid-19 vaccines, said the executive director of the Institute of Business Administration, Karachi.

The lecture was organised at the Arts Auditorium by the Department of International Relations, University of Karachi. Karachi University Vice Chancellor Prof Dr Khalid Mahmood Iraqi, Dean Arts and Social Sciences Prof Dr Nusrat Idrees, Chairman Department of International Relations Dr Naeem Ahmed, Dr Aamir Hameed, other faculty members of the department and students attended.

Speaking on the topic of ‘The State We Live In: Pakistan Today’, Dr Zaidi said the list of the names of the Pandora Leaks and Panama Leaks shows that Pakistan is a country that has large numbers of millionaires and billionaires, but on the other hand, the state is poor.

The wealth of some people is increasing day by day, but the government relies upon aid, grants and loans, the political economist said, adding that the foreign policy of nations which are dependent on foreign aid always remains constrained, and the same is the case of Pakistan.

Since its inception, the country has always been under the influence of foreign aid, or, in simple words, foreign debt, and we have to increase our exports to come out of this situation on an emergency basis, he said.

Dr Zaidi observed that Bangladesh has overcome its issues, risen to unprecedented economic development and become the role model for other countries in the region. “We continue to depend on others instead of stabilising our economy. Unless we stabilise our economy, we will not be able to join the list of developed countries, and for that, we must increase our exports. As long as we continue to depend on others, we will have to listen to them.”

While narrating the words of the late Dr Mutahir Ahmed, the IBA executive director said that if Pakistan needed to develop itself, it must have economic interdependence and a friendly relationship with its neighbours and it was the only way out.

Talking about the CPEC, he said, it seems not to be a “game changer”, but “game over”, as Pakistan has borrowed debt more from China than it has from any other country, and sooner or later there will be a time when China will ask Pakistan to return all the debt.

Dr Zaidi informed the audience that the emergence of the middle class is a good sign for Pakistan’s future, women’s participation has increased in different sectors in recent times, and after the passage of the 18th Amendment, the provinces have been given autonomy, and they are developing better than before.

Karachi University Vice Chancellor Prof Dr Khalid Iraqi said Pakistan is an agricultural country but still we are unable to use it for the betterment of the economy due to the instability of policies.

He stressed that civilian institutions are unfortunately unable to achieve the status they should have and that is why our foreign policy is weaker than that of other countries. He observed that without economic sovereignty and stability, the goals of developing the country and formulating the best foreign policy cannot be achieved.

Prof Iraqi said one of the major causes of the decline of an economy is that countries depend on foreign loans and aid, and they have to follow the policies of others. He emphasised that nations cannot survive without development, and lamented that we as a nation believe in personalities instead of institutions.

Earlier, Dr Naeem Ahmed said that Pakistan with ethnic, cultural and religious diversities has been constantly experiencing profound political and socio-economic turbulence for several decades.

Along with this, Pakistan has been witnessing the scourge of unrestrained religious extremism and terrorism, besides the increasing gap between the rich and the poor as well as the sharpened civil-military relations.

He observed that the current situation in Afghanistan, if not handled effectively, may further impact the religio-political and socio-economic landscape of Pakistan. Talking about the late Prof Dr Sheikh Mutahir Ahmed, speakers said that he was a man of noble character and a man who listened to and tolerated the opinions of others.