IN the face of global uncertainties and economic challenges faced by Pakistan, the need for long-term policies that foster stability and sustainable growth has become increasingly apparent. During a meeting with the business community in Lahore, former President and PPP Co Chairman Asif Ali Zardari emphasized the significance of adopting a long-term approach to economic development. Indeed his call for pragmatic and forward thinking policies deserves attention as it highlights the importance of charting a course that extends beyond short-term gains.
One of the primary advantages of long-term policies is the creation of an environment conducive to attracting domestic as well as foreign investment. By providing a clear and predictable roadmap, investors gain confidence in the stability of the economic landscape. This confidence translates into increased capital inflows, job creation and technological advancements. With the implementation of long-term policies, businesses can make informed decisions, plan for the future and allocate resources accordingly, thereby fostering economic growth and sustainability. The global economy is no stranger to periodic turbulence and financial crises. However, economies with robust long term policies in place are better equipped to weather such storms. Long-term policies indeed provide a solid foundation for progress. Former President Zardari’s focus on long-term policies reflects his deep understanding of the critical factors that contribute to economic stability. However, for the success of such policies, political stability and continuity is a must. Whilst addressing a conference on Wednesday, Minister for Planning and Development, Ahsan Iqbal, very rightly pointed out that Pakistan is in dire need of a “decade of political stability” to turnaround the national economy and achieve a consistent growth trajectory. The events of the past one year or so have badly shaken the country with polarization touching the new heights. Responsibility rests with the political leadership to rise above their petty political interests and move towards bringing down the political temperature. This is the only way through which policies/vision can be translated into reality. Also for the success of long-term policies, it is important that there is a consensus amongst the political parties to carry them forward no matter who is in the government.
