Chief Editor: Ansar Mahmood Bhatti

Ahmad Jawad says we should start reliance on ur existing resources to make effective economy 

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DNA

Karachi: FPCCI’s Businessmen Panel Secretary General (Federal) Chaudhry Ahmad Jawad said Pakistan’s national interest demands that we seriously reduce our heavy dependence on foreign countries and aid agencies and develop a viable self-sustaining economy.  Weak governance, lack of commitment, corruption, external and internal threats or a combination of these factors led to Pakistan failing to balance its budget and rely heavily on foreign assistance.

“Indeed, Pakistan is blessed with a unique strategic location but we have overplayed its significance for short-term economic and political gains that have invariably recoiled back on the country”

The recent shift in policy of Saudi Arabia towards Pakistan on the issue of Kashmir is a novel example for us, Saudi Arabia almost ends loan and oil supply to Pakistan over its criticism of OIC on Kashmir issue and in response we forced to pay back US $1 billion to Saudi Arabia and another $ 1 billion might on their cards. Still we didn’t received the oil on deferred payments from Saudi Arabia since May as a deal signed between the two close allies for provision of US $3.2 billion worth of the fuel under the arrangement expired two months ago and yet no progress on MOU of $ 20 billion are on freezing side. Despite Pakistan reaffirms unwavering commitment to Saudi security—Pakistan will always remain a reliable security partner of the Kingdom. Pakistan Airforce raised the Royal Saudi Air Force in the 1960s and Pakistani pilots flew RSAF fighter jets during KSA’s Al-Wadiah conflict with Yemen (1969).

On the other hand China is wary and treading a cautious line not to become involved in the Middle Eastern politics.

“We have to recognise the paradoxes that we face. We are proud to be a nuclear-armed country, and justifiably so, but on the other hand we are so dependent on others to keep our economy afloat. This is a huge contradiction for it imposes constraints on the country’s foreign policy options, distorts defence planning and affects international image”.

He also said India has always tried to exploit our economic weakness and pursues policies to further weaken it. Modi government’s deliberate strategy is to maintain diplomatic and military pressure on Pakistan by keeping the LoC active and instigate sabotage activities. In pursuing this course of action, it also tries to divert world attention from its gross human rights violations in Kashmir.

Jawad suggested we have to make new strategy for effective stabilisation once for all, and do reliance on our existing resources, reduce the cost of government departments, strengthen agriculture and revise the strategy of free float of dollar. Currently dollar price again Pak rupee is over valued. It should be revised back to revive economy. We should learn from Middle East model on dollar , he remarked.






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