Former finance minister Miftah Ismail stressed on Saturday that Pakistan needs to prioritise population planning and female education in a bid to prosper.

Speaking at an event in Karachi, he stated that the country failed to do population planning on basis of religion but at the same time, Bangladesh, Tunisia and Egypt succeeded in doing so.

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Citing figures, he stated that 5.5 million children are born in Pakistan annually and “the country is moving towards food insecurity now.”

Moreover, he underlined the importance of female education and said that “it is the best investment”.

“Bangladesh is a corrupt nation but it grew because it focused on women’s education and population planning,” the former finance minister noted.

He lamented that 40.2% of children in Pakistan were stunted and the country had a high rate of malnourishment as well.

“Pakistan changed 7 prime ministers in first 11 years after it’s creation while India established 5 Indian Institutes of Technology within first 10 years,” he said. “When India began economic liberalisation, it already had an educational base and Pakistan still has none.”

An interview with Miftah Ismail, former Federal Minister for Finance and Revenue

He also cited that India’s IT exports stood at $150 billion per year against Pakistan’s $2-3 billion despite the fact that Pakistan had a massive freelancing base.

He also regretted that Pakistan had the second highest infant mortality rate in the world.

“We have to think as one nation and we need population planning. We also need to live within our means,” Ismail said. “Our current account is usually in deficit.”

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He also stated that Pakistan resorts to borrowing in order to repay previous debts and that “this strategy will never bear fruits.”

Economic situation

Talking about the economic crisis, he stated that it is now affecting the elites.

“The crisis is being borne by the top 10-15% population now. The rest of the public has been in crisis for the past 75 years due to wrong policies. I consider myself a part of the problem as well.”

He stated that Pakistan was an elite-run society.