National economic security framework
ECONOMIC Security is reportedly at the core of the recently approved National Security Policy.
Although the details are yet to emerge, yet it is a step in the right direction from Pakistan’s national interest perspective.
The fundamental reason behind Pakistan’s volatile economic performance for many decades is the country’s inability (read unwillingness) to develop and implement strategic economic security framework in the light of its peculiar socio-economic and geopolitical dynamics. This has consequently impacted Pakistan on the diplomatic and security fronts as well.
Economic security is not just a fancy word. It is a domain that requires very sophisticated and meticulous planning and equally good implementation. Without a milestone based implementation plan and its top level monitoring by the chief executive of the country, the economic security vision will not go beyond papers and rhetoric.
Right people for the right job: The single most important success factor for creating the economic security apparatus is to mobilize a highly professional and competent team which understands the gravity of the situation, is well versed with social, economic and geopolitical dynamics of the country and is skilled to devise a pragmatic action plan to implement this vision.
Since the existing competence level of our politicians and bureaucracy is below par, it will require mobilizing a fresh team of experts who are selected purely on merit basis to deliver upon it. Any compromises on the competence and integrity of economic security team will render the whole exercise fruitless.
Economic security division: Economic security planning and implementation is a complex and multi-stakeholder exercise which requires top level monitoring and interference at many levels.
Hence, there needs to be an Economic Security Division in the Prime Minister’s Office which can independently and neutrally undertake the whole process.
If the economic security assignment is given to any of the existing ministerial or government departmental structures, it will be stifled by the bureaucratic red-tapism. In that case, some external consultants would be hired to submit voluminous reports for a hefty fee and these reports would then never see the light of the day.
Hence it is important that a dedicated and professional structure is created within the PM Office which can directly supervise the whole process. It will strengthen the PM’s economic advisory team as well.
Key performance indicators: Another important element is to develop a full range of Key Performance Indicators which indicate where we are heading as a nation.
Once developed, these should be shared with the public to use it as a reference document for measuring the performance of the present and future governments.
This will ensure continuity of policy framework which is essential to achieve any kind of economic security. The performance indicator framework should also assign implementation responsibilities to specific departments with clear guidelines and milestones linked to their performance appraisal and promotions. Otherwise the bureaucratic red tape would again come into play and sabotage the whole initiative.
Inter province-federal coordination: Since many vital sectors of the economy have been delegated to the provincial governments since the promulgation of the 18th Amendment to the Constitution, the success of any economic security policy would also greatly depend upon the will and capacity of respective provinces.
This requires an inclusive and positive approach from the Federal Government and a responsive attitude from each of the provincial governments. Otherwise, many of the key sectors like food security, energy, tourism etc. would not take off.
The Economic Security Division at the PM office can also act as the command and control centre where federal and provincial departments can sit together and formulate policies in the national rather than political interest.
Parliamentary approval: In an ideal world, any national security or economic security policy should be approved by Parliament to ensure its continuity beyond the sitting government tenure.
Although security matters are generally in the domain of the Establishment, all stakeholders of Pakistan must have some degree of consensus on economic security framework to ensure its continuity for the next 10-20 years.
Otherwise, there remains a serious risk that the initiative might get discarded by the subsequent government.
This is unfortunately a sad reality of Pakistani politics which is unlikely to change in the near future given the mistrust and hatred amongst all political parties. However, the current government can, at least, attempt to create a wider consensus on the subject by taking the economic security policy to Parliament.
This can even be done after sharing it with the public so that Opposition is left with the only option to condemn it on some frivolous grounds.
The country has developed a national economic security policy after a delay of at least fifty years. Hence it is critical that it is executed with full vigour and finesse to bequeath a better Pakistan to the future generations.
We would otherwise keep begging to international financial institutions in years to come and they will keep imposing their “will” on us. A prosperous and better Pakistan requires a robust economic security policy that transcends all political divides and gets entrenched and woven in the fabric of Pakistan’s body politic. The time to act is now.
—The writer is an Economist, Geopolitical Analyst and Social Development Expert.
