Pakistan is currently in the midst of political upheaval and economic uncertainties. It may appear odd that anyone would be interested at this juncture in reading about the long-term development path of the country.
However, it must be emphatically submitted that in our pursuit of immediate and short-term relief and gratification we have been pursuing a band aid fix-it-now approach postponing and neglecting the serious deep-rooted structural problems that are indeed the main cause of our secular economic decline and frequent economic crises. It is a clarion call for our leaders and policymakers to think for a moment about the damage to this country if we continue to remain embroiled in political point scoring, adversarial relationships and polarizing society. As time passes, the difficulties and challenges will become compounded, governance will become more complex and entangled and no party in power would be able to find amicable solutions.
The coming decades would be characterized by technological advances that can prove to be an opportunity for our economic turn-around, provided we begin to take the first steps on this long and arduous journey. This article is an attempt to throw some light as to how we can take advantage of this opportunity, failing which we would further descend down the ladder in the comity of nations while others overtake us just like we have witnessed in the last 30 years.
It is now increasingly clear that the determinants of long-term sustained...
Read Full Story: https://www.thenews.com.pk/print/948307-pakistan-and-the-steam-economy-part-i
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