LAHORE: Panellists of PILDAT seminar titled “Can Economic Progress and Democracy Coexist?” have evolved a consensus that progress would not be possible without true democracy in Pakistan.
The session featured in-depth deliberations by a distinguished panel on Pakistan’s path forward for economic progress within a robust democratic framework.
The panellists included Shahid Khaqan Abbasi, former Prime Minister of Pakistan; Fawad Hasan Fawad, former Caretaker Federal Minister for Privatization; Khurram Dastgir Khan, former Federal Minister for Commerce and Energy; and Faryal Sadiq, Chief Marketing Officer, Interloop Limited.
Ahmed Bilal Mehboob, President PILDAT, highlighted the lack of attention given to economic issues in our political discourse, which is often dominated by abstract politics. He expressed hope that this session would be the start of centring Pakistan’s public policy discussions on the economy and pledged that PILDAT would continue to hold such discussions.
Shahid Khaqan Abbasi argued that Pakistan cannot grow economically unless it becomes a fully functioning democracy. He said the countries who have prospered while being autocracies are not similar to Pakistan in any aspect as those are societies with long histories of homogeneity and social discipline saying our autocrats want to be democrats, and our democrats want to be autocrats reflecting on the nation’s political conundrum. He further explained that the reason Pakistan’s autocratic regimes are remembered in the popular narrative as economically successful is because they all operated in an aid-driven environment, which was the real reason behind growth. He stressed that geopolitics no longer allows for such aid-led growth adding economy, not security, will drive
this country and its
politics now.
Khurram Dastgir Khan reflected on Pakistan’s ongoing economic challenges and asserted that his party’s government had solved many economic hurdles when it left power in 2013, including terrorism and energy shortages. Mr. Dastgir argued that the success of democratic governments hinges on transparency, accountability, and active stakeholder engagement.
Fawad Hasan Fawad stressed that human development has not been achieved by dictatorships, even if they have achieved economic growth. He called for a transformation in the state’s functioning to prioritize efficiency, transparency, and accountability. While emphasizing that that privatization and deregulation is necessary for sectors of business, he argued that this approach cannot be taken in areas that are essential functions of the state: health, education and skills development. Mr. Fawad said that privatization in Pakistan has often been mishandled due to a lack of transparency and accountability highlighting PIA and Pakistan Railways suffer because they operate in an environment of mismanagement and limited oversight.
Ms Faryal Sadiq argued that the issue is not democracy but the lack of consistency in policies and political instability, which hinder economic activity. Ms Faryal further added private sector potential to drive further growth was dependent on consistent policies and sound governance. She underscored the importance of stability and consensus-driven policies for businesses to prosper.
Copyright Business Recorder, 2024
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