Time for a reboot

It has been almost two months that the unity government has taken charge after a rollercoaster ride of no-confidence motion and its aftermaths. The challenge was not easy for PM Shehbaz Sharif and his allies as they all were on the moral high ground before taking charge.

But they took it as a challenge despite the poor economic situation and isolation from the international community, especially after the former PM directly blamed the US for regime change; it was an empty slogan as there was no concrete evidence to justify the claims of a foreign conspiracy.

All this summed up as a tough challenge for the current government which rose up with the narrative to fix the distorted economy and put the country back on track. But things were not simple as the previous government had agreed to strict conditions with the IMF and provided subsidies on fuel prices just as it realized that it was to dissolve soon. This was the PTI’s political revenge against its opponents despite knowing that the salaried and daily wagers would not be able to sustain its repercussions.

It is undoubtedly a challenging task for the unity government to perform on two prime fronts: economy and foreign affairs. However, expecting too much from them in this limited time will be unfair as the country’s political situation is not as smooth as it should be for uninterrupted progress. But having said, expectations from the government are too high, so the leaders have no option but to perform. Despite all the odds, there has been a sincere effort by the unity government to control the damage done by Khan’s government. Also, Foreign Minister Bilawal Bhutto is working tirelessly to engage with the international community and restore diplomatic relations. The previous government left sour relations with the US, China and other Western powers, but Bilawal Bhutto has managed to break the ice by gracefully reviving the diplomatic ties; his idea of ‘trade over aid’ has been largely appreciated. It was essential for Pakistan to avoid any sort of diplomatic tussle with a country that has influence on the IMF, as the latter has already put strict economic conditions on Pakistan. Recently a breakthrough development regarding Pakistan coming out of the FATF’s grey list raised immense hope in our economic and diplomatic fronts. This news brought some positivity in this tough time.

Khan also ruined our brotherly relations with China, which has always been a support system for Pakistan. His confused foreign policy cost the nation billions of dollars as CPEC was halted for a long time under his rule, but the FM’s maiden visit to Beijing did wonders for the country. Following his official visit, Pakistan signed a $2.3 billion loan facility agreement with China, which was much-needed amidst the economic crisis. On the other hand, CPEC’s revival is also a positive sign for Pakistan’s development. The results of these steps will take time to become visible, but one thing is for sure: the direction has now been set towards success and things are being auto-corrected.

The Sri Lanka economic situation is a test case for Pakistan; we can learn from their mistakes and improve our financial policies. The tough decisions taken by the unity government today are difficult for the people to bear, but ultimately it will give long-term sustainability to the economy.

The recently imposed import ban is an opportunity to encourage local industries; this will boost growth and also increase employment opportunities. The more we depend on local industries, the better it will be for our economy. This is the best way to move forward. Pakistan is a country of 220 million people with strong determination and courage; when this nation can defeat terrorism, it can also overcome this economic crisis. All we need to do is work hard, create diverse opportunities, increase productivity, encourage local production, minimize imports, and maximize exports. Self-dependency is the only way to counter this economic challenge.

A potential sector which largely remained ignored by our policymakers is IT. If this sector gets due attention, it will result in the influx of billions of dollars into our economy. Approximately 64 per cent of Pakistan’s population comprises young people, and they can play a vital role in information technology, provided they’re given adequate opportunities and incentives. Human-skill development, trade, and local production can fill the gaps of Pakistan’s economy. The dilemma is that today Pakistan is solely dependent on loans; we are taking more loans to clear our debts, and this vicious cycle will not end the misery of our fractured economy. We need a massive reboot to get back to our stable position, and it will take time. There is no magic wand, no miracles, and no surprises. There is only one thing that can change our destiny – uninterrupted democracy. Long-term policies should be set, and there should be no hindrance in their implementation. The reason why we are left behind is because after every five years, our policies change, with all the previous effort and money being drained out in losses.

Pakistan is going through a challenging phase, and things are complicated, but there is always an opportunity in crisis. Our policymakers need to sit and reflect on where we went wrong and how we can nullify past mistakes. There is always a solution hidden somewhere in the problem, and it is time to discover that solution, move forward and push the reboot button.

The writer is a columnist and social activist.

He tweets @MustafaBaloch_