EDITORIAL: The Central Apex Committee (CAC), in its meeting last Friday, merely echoed what much of the country has already come to understand; that “the elimination of terrorism, economic recovery and political stability are interlinked”.
Also, instead of being reminded once again that “a national consensus should be created and obstacles should be removed”, the people would surely have preferred to be enlightened about why such things have not already been done.
We went through the same drill before successive military operations crushed TTP’s (Tehreek-e-Taliban Pakistan’s) terror network a decade ago, after all, and the resurgence of terrorism owes in large part to authorities taking their eyes off the ball once terrorists melted across the Afghan border.
Therefore, the anti-terror blueprint is already in place, in the form of the National Action Plan (NAP), and it is once again its proper and thorough implementation, rather lack of it, that is the problem.
The biggest difference this time is that the country’s position is much more precarious. The economy has all but collapsed and the political elite is far too busy tearing each other down, in their naked lust for power, to give anything else, even national security, much thought.
In fact, this fight has got so ugly that some of the country’s top politicians have no qualms even about degrading the military’s prestige and standing whenever it does not side with them in this senseless game of thrones.
Little surprise, then, that TTP has been able to exploit the resulting security vacuum so successfully. It’s also very unfortunate that some political parties are still putting politics before security and refusing to form a united front even as terrorists go on a rampage up and down the country.
The first priority must no doubt be reviving the IMF (International Monetary Fund) bailout programme. Without the money the Fund will give, and also greenlight from other bi- and multi-lateral institutions, there is no question of stabilising the economy or bolstering the law enforcement machinery to meet the challenge of terrorism.
Yet, even with the EFF (Extended Fund Facility) back on track, which is expected to happen in a few days, the country will still not be able to attract solid foreign investment until there is political stability.
As the fiscal sector cuts subsidies and raises taxes to comply with IMF’s “upfront conditions”, and the monetary sector continues raising interest rates, both production and exports will suffer; making attracting FDI (Foreign Direct Investment) and existential issue.
This time the high interest window cannot be counted on to trigger much carry trade into the rupee either, like the pre-Covid days, because hot money is the first to head for the exit lounge when bombs start going off at random.
The CAC was also right to point out that national security and protection of people’s lives and property were basic constitutional duties, which had to be performed with “national spirit, sincerity, focus and best ability”.
But it is also very ironic that the government is still issuing the same old statements when its actions should be doing the talking. It has done well by finally putting its foot down and telling Kabul that its patience has run out.
And even though compliance with IMF’s conditions has come at a steep cost, both for the people and the administration, it should also have been done sooner because the lender’s money is desperately needed.
The only piece still missing from the puzzle is political stability. And for that the country’s politicians are squarely to blame. They have got so used to spinning conspiracy theories to keep the pot burning and the people confused that they have themselves got caught in them now.
And their disregard for the people’s suffering and Pakistan’s biggest problems is, without a doubt, the biggest reason for most of the country’s problems at this time, including TTP’s second attack on the state.
Copyright Business Recorder, 2023
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