This is apropos a Business Recorder op-ed carried by the newspaper on Saturday. The writer, Farhat Ali, has presented an informed perspective on the debates surrounding ‘charter of economy’ by describing it as an ‘an exercise in futility’.

According to him, for example, “While ‘charter of economy’ is yet to be born, the achievements of COD (charter of economy) in favour of state governance and sanctity of democratic structure of the country can well be judged from the current happenings at our state institutions, who are the custodians of the nation’s democracy.

How far has COD worked in people’s interests?” In my view, however, COD has worked in a meaningful way. It has helped reduce animosity between Pakistan People’s Party (PPP) and Pakistan Muslim League-Nawaz (PML-N), the principal signatories to the charter or political document.

It has successfully shown its efficacy, so to speak. It has proven to us that reconciliation and cooperation between competing political parties is quite possible.

The unprecedented rise of Pakistan Tehreek-e-Insaf (PTI) has, however, underscored the need for all political stakeholders to carry out a revisit of this charter, given the party is now considered the largest political party despite a slew of challenges to its survival the post-May 9 incidents have been posing.

In my view, the birth of a ‘charter of economy’ will be strongly linked to a revisit of ‘charter of democracy’, which needs to be suitably amended or improved upon keeping in view the obtaining political situation, which is undoubtedly characterized by a dreadful impasse, in the country.

Only then can we initiate any meaningful debate on how to solicit across-the-board consensus on ‘charter of democracy’.

Last but not least, the suggestions elicited from the business community and their chambers will be a key to framing or articulating a ‘charter of economy’.

Mehdi Hasan (Karachi)

Copyright Business Recorder, 2023