Leadership and debt crisis
ECONOMIC liberation, which constructs the cornerstone of self-respect and self-esteem, makes nations feel proud and triumphant among the constellations of civilizations. The magnitude of the debt burden of a nation defines the level of respect a nation earns in this world. It moulds national character and moral strength. Economically prosperous nations not only exhibit tremendous success on the global stage, but their citizens also benefit from a vast number of opportunities across the globe. Pakistan has been wading through the hot waters of the debt crisis. Undoubtedly, there are multiple causes and an abundance of solutions for this. But it looks as though the debt has become our fortune. The same familiar faces who led this nation to this situation are pledging to make this nation debt free.
How can it be that the same old strategies can generate different results? It is like chasing a rainbow during the night. Those realms that have far-sighted leaders never take centuries to bring financial independence to their country. It consumed Quaid-i-Azam not more than twenty years to win freedom for the Muslims. Nevertheless, we have been yearning for some kind of miracle to see Pakistan make progress vastly for over seventy-five moons. What is exceptionally special in neighbouring China is that it took her only a few decades to make a mark in the global arena. Today, China is defying the authority of the USA in the economy and technology. How long did the leaders of Singapore take to transform the country into the most prosperous country in the region?
Lee Kuan Yew was a blessing to Singapore. The man, no matter where his travels took him, read books to find paths for progress for his people. He refused to waste any time pondering over unethical tactics to gain political power. His attention was on the growth of his nation. How did Japan recover from a perilous financial situation and achieve economic stability? In Japan, the leaders put the welfare of their people at the top of their list and formed plans to convert their economy to an export-based one. Starting with nothing, the rulers of these countries worked incessantly until their countries achieved economic glory. Pakistan is struggling economically at the moment. It seems that our society has squandered the ability to bring about an economic wonder. It is an indisputable fact that we have been expecting the world to help Pakistan get rid of its debt.
The constant threat of natural disasters has made us cry even louder. We have grasped that we cannot survive without the financial help of our donors. It strikes a hard blow to our self-esteem and self-respect. William Shakespeare rightly states that “Neither a borrower, nor a lender is: for loan oft loses both itself and friend, and borrowing dulls the edge of husbandry.” The borrowing season should reach its conclusion. And charity begins at home. It is the moment for our leaders to accept this challenge. After all, a leader leads by showing the way. It is now essential to change our lifestyle and set our priorities right. It is a widely accepted idea that we are not a poor country, but a poorly governed one. Utilizing the resources at our disposal can lead to a brighter future. The main goal should be to bring economic prosperity to the country. This can be achieved in multiple ways.
To deal with the challenge of the trade deficit, Pakistan needs to diversify its export base. Achieving this goal is not difficult. Pakistan needs a steady political atmosphere and consistency in policies. To compete internationally, the country should use technology to facilitate business operations. To energize the economy, the nation’s youth needs leadership and a chance to rise to the occasion. The unemployed young are a valuable asset that is not being used. Pakistan can meet its energy demands using its resources. Pakistan has a huge hydel, solar, and wind energy potential. A country’s economic growth depends on reliable and low-cost electricity. Offering affordable electricity will get our economy rolling.
Pakistan is rich in minerals. A lot of it has yet to be tapped into and used. We have got a significant geo-strategic location. Gwadar is our chance to become an influential part of regional connectivity. Pakistan relies heavily on its agricultural sector. Reforms in this sector can trigger its output. It will generate employment opportunities for those living in rural places. It is a supplier of raw material to the industrial sector. Giving this sector the focus it requires can help us become an independent economy. Above all, if Pakistan focuses on improving its human development index, then this nation has the potential to do wonders.
Our youth is longing for opportunities. Give them the opportunity, and they’ll keep striving until they find the destination where they’re headed. So who can make all of this happen for Pakistan? Pakistan has an array of resources to take advantage of. The country most certainly needs sagacious leadership. Pakistan is entitled to win a reputable place in this world. It is time to make Pakistan great. It is not an arduous task. But yes, it necessitates leadership that holds wisdom. Verily, the country’s honour is what we cannot compromise on. Our national respect is more precious than all the riches in this world. We have to make Pakistan achieve a respectable place for us in this world. After 75 years of freedom, we are still attempting to bring it about for Pakistan.
Pakistan requires visionary leadership to triumph in this fight against debt to stand triumphant in this world. Today Pakistan is in the midst of a social, financial and political storm. Political unity and economic success are the fruits of true leadership. Regrettably, despite having the capability to change our economic fortune, the country is still battling to realize its inherited economic potential. It goes without saying that it is not the issue of debt that plagues Pakistan, but a lack of leadership with a clear vision.
—The writer is CSS Officer, based in Sargodha.
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