American envoy's recent appreciation of Pakistan's brilliant economic and administrative performance is based on realistic benchmarks so it should be evaluated objectively ie in the realistic perspective.
Take into account the statement given by American ambassador, Richard Olson, during the recent Leaders Summit. When he says that due to concrete and intelligently formulated measures taken by the Nawaz Sharif government, Pakistan is going to make strides on the economic front, this assessment seems logical and based on visible indicators.
This assessment has also been practically endorsed by the world's top lending and financing agencies namely the IMF and the World Bank whose standards of performance evaluation are strict and high and which are globally acknowledged. It must be kept in mind that in this interdependent world, even the strongest economies work with the support of one another. Pakistan's incumbent leadership realises this factor very well but it is equally mindful of maintaining a highly self-respecting posture while making international deals, without submitting to harsh conditionalities, unlike the previous regimes some of which would compromise the national interests while seeking foreign financial support.
Now, the government of Nawaz Sharif has put the economy on the track of self-reliance and whenever there is a need for external support, it is done on merit. And merit here means meeting the international standards of business and international financing like a dignified, self-sustaining nation.
It is not an easy task to accomplish because meeting of international standards of economic collaboration requires solid performance of the economy for seeking external support. Pakistan is one of the very few countries of the world whose economy has performed excellently during such a short period of time, ie within a period of few months since the Sharif government took the reins of power after the last general election.
Many analysts are of the view that the ruling party, Pakistan Muslim League-Nawaz, did considerable homework like any seasoned political party of the modern world, during the period it remained in Opposition. This is also a rare phenomenon in our systems of governance and economic management. Obviously, it was this fine homework that the Finance Minister, Ishaq Dar, was able to combat the menace of circular debt, paying a huge sum of more than 400 billion rupees at the outset when it would have been practically impossible for any administration to take such a big chunk of finances for tackling this problem.
Actually, it is the vision behind all these moves that is providing the government the necessary strength and proper sense of direction as how to steer the economy out of the woods and transform Pakistan into a prosperous nation. Vision 2025 is a case in point. The government says it is the vision of Pakistan which is being pursued energetically, devotedly and holistically.
This holistic aspect of governance has helped Pakistan sign a number of agreements and a memoranda of understanding that would bring in massive foreign investments and technical co-operation to the tune of billions of dollars for a number of beneficial projects. And it is because of this holistic approach that the government has been able to work out proper plans for dealing with all the related problems including the problem of terrorism that had not only terrorised the entire society but also scared foreign investors.
Now, untiring work has already begun and is continuing uninterruptedly, till this day, to handle this issue with peaceful, wise moves which are going to do lot of fire-fighting. The ultimate results might still take some more time but the peace process is going smoothly in the direction of lasting, pervasive peace. It is widely believed that the confidence-building measures initiated by the government in this regard might bring normalcy in the lives of Pakistani citizenry in the foreseeable future.
In all, the government seems determined to bring about a big change- for the better- in the standard of living of its citizens. According to Federal Minister for Planning, Development and Reforms, Ahsan Iqbal, strong foundation has been laid for strong economy and the aim is to ensure more than seven to eight per cent growth rate. The minister also claims that due to the measures that have been initiated with a visionary approach under the leadership of Mian Nawaz Sharif, Pakistan would rank among the top ten economies of the world by the year 2050. It is not difficult to achieve this target even though some critics try to paint it as an exaggerated figure. In no way, is this aim beyond the reach of Pakistani nation that is already blessed with tremendous natural and human resources. In the area of human resources in particular the major component is that of youth whose empowerment is number one priority of Sharif government. Not only through youth loans and other empowerment, skills' building and capacity-building schemes, the youth empowerment plan is also being vigorously pursued through education. Prime Minister Nawaz Sharif has, of late, categorically stated that the allocation for education would be increased to an all-time high figure of four per cent of the GDP in the next few years.
These endeavours have created an impact, as well whose positive effects have started pouring in. The statement by US Ambassador is just one of these positive effects and indicators and it is not merely a statement but a reflection of the collective opinion of the leading powers of the world whose economies form, more or less, the centre stage of global economy for all practical purposes.
Pakistan's present leadership must be commended for finding a way out of its rampant socio-economic crises and driving fast on the track of progress and prosperity with an air of self-confidence and strong belief in our good times ahead that are definitely going to be the fate of this nation blessed with energetic, sagacious minds and above all, with committed leadership.
(The views expressed in this article are not necessarily those of the newspaper)
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