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Gulf giants put final seal on Monetary Union
Leaders ask Israel to end Gaza massacre -What is the destiny of
Pakistan?
Zahid Malik
Islamabad—The towering leaders i.e. their Majesties and Highnesses
of six oil-rich Gulf states, as per expectations of their
enthusiastic people, decided at the 29th Gulf Summit in Muscat to
move forward and further consolidate relations and solidarity among
their countries. They put a final seal on the Gulf Monetary Union on
the concluding day of the 29th GCC Summit but the location of the
Central Bank remained unresolved. The Summit also tackled, among
other subjects, issues like impact of global financial crises, food
security, and common rail project.
The moot, chaired by people-friendly benovalent Sultan Qaboos bin
Saeed, would have done some more loud thinking to “deepen and
strengthen” links with each other but, unfortunately, the focus of
the Gulf leaders rightly shifted to evolving a unified stand against
Israeli air strikes on poor people of Gaza. The all powerful leaders
were visibly sad, and upset too, over the “genocide” of the people
of Gaza and they unanimously asked Israel to end Gaza massacre.
Their Majesties and Highnesses expressed willingness to participate
in an urgent one-point Arab Summit initiated by the Amir of Qatar
but it could not materialize on account of some obstructionist
signals from some Arab countries. “They wanted to be more pragmatic
and result-oriented”, confided a senior GCC diplomat to me.
Anyhow, after having interaction with some of the delegates and
senior functionaries it can safely be predicted that the Gulf region
is heading towards a single market, and may have at a later stage a
common currency enhancing say of the member states among
international economic blocs. Regarding the location of GCC Central
Bank, three Gulf States were keen to host it as rumoured at the
palatial Al Bustan Palace Hotel but Mr. Mohammad Al Mazroui,
Assistant Secretary General for Economic Affairs of GCC, told me
there are, in fact, four countries staking a claim to host the GCC
Central Bank. As he said they are, besides the UAE, Bahrain, Qatar
and Saudi Arabia. “A decision in this regard would be taken by the
end of the year”, Mr. Mohammad Al Mazroui was confident.
I have witnessed, yet again, that in Arab world the occasion of the
new Hijri year and the anniversary of the Prophet’s (PBUH) Hijra is
a day of happiness and festivities and the Arab leaders and the
Islam-loving Arab people greet each other, as Sultan Qaboos
exchanged greeting with other Gulf leaders. In Pakistan, the land of
the pure, the first of every Muharram, brings with it bone-chilling
apprehensions and fears. Is there some one, and particularly among
the religious leaders, to contemplate how Pakistan can be saved from
further humiliation and ridicule in the comity of nations?
Reverting back to GCC, according to IMF’s Economic outlook, the
economic growth has propelled the AGCC economy up the world rankings
from 17th largest economy in 2003 to 13th largest in 2008. I am not
an economist as such but according to all the relevant indicators
and parameters the Gulf economy, like Chinese economy, will take
quantum jump upward in the next decade or so. Better wisdom has
dawned on at least this part of the Muslim world that it is the
economy and not slogans, long marches and empty rhetoric that
matter.
Destiny of Pakistan: Here I may in the perspective of above, raise a
question very briefly, of course: what is the destiny of Pakistan?
While most of the countries, Muslim and non-Muslim too, with a view
to drawing strength from each other and supplement each other’s
economic strength, are grouping themselves into regional economic
unions and strategic blocs, Pakistan has to take a strategic
decision: whether to closely integrate with the region we belong to
or look towards the Arab-Muslim bloc? As a matter of prevalent
principle one may plead for a well-knit regional economic bloc but
the problem is that they label our Islamic heroes like Mohammad bin
Qasim and Mahmud Ghaznavi as “invaders” and “plunderers”! Tailpiece.
Almost everybody who met me, including a Russian lady journalist
enquired from me in a taunting manner: Is your President still
indulging in corruption? I felt sad. Our top man at the hill top has
extremely bad image. Can anybody purge his negative image? |
