Pakistan’s begging bowl: Pakistan-IMF and master-slave relationship
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2016-01-03 14:13:34

Pakistan’s begging bowl: Pakistan-IMF and master-slave relationship

pakand

 

 

Pakistan is becoming increasingly dependent on foreign countries and their donor agencies for aid and loans, thus bartering away its sovereignty. On the other hand, the British government recently decided to discontinue financial assistance to India on the ground that the neighbouring country has become an economic powerhouse and does not need any aid. In fact, as far back as 2012, an Indian minister retorted that he considers British aid peanut and his country can do without this generosity. Over the past four decades, the gap in economic, industrial and technological fields between Pakistan and India has greatly widened. India has been following a prudent economic policy of self-reliance with emphasis on local manufacturing and discouraging imports, thus achieving remarkable progress. They are producing everything from office pins to mobile phones, locomotives, metro train and double-decker trains and have enormous exports. They are courting American, European, Russian, Chinese and Arab investors for investment in their country. Pakistan, unfortunately, is dependent on virtually everything on other countries for its needs and has a nascent industrial and export base. Even, the lone steel mill PSM has been closed owing to corruption and mismanagement. In the past few years, there has been a massive flight of capital and entrepreneurs have shifted their plants outside because of unfriendly business environment. We have been taking the easy route of imports for meeting our needs rather than putting effort on domestic manufacturing.  An economically weak country cannot have an aggressive and strong foreign policy and will always be bullied by a belligerent neighbour. Not surprisingly, India has a strong presence and image globally, including Arab countries.The reason for India’s resounding success is that it has been having smart and patriotic leadership while Pakistan’s political ride has been on a roller-coaster because of its inept and self-seeking rulers.

A.Majeed

pk.shafaqna.com

 

Categories:   Pakistan ، Business ،
Tags:   pakistan ، Ishaq Dar ، IMF ،
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