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Capital flight
In recent years, Pakistani businessmen and affluent individuals have increasingly turned their sights towards Dubai, investing heavily in the emirate’s real estate sector and establishing trade houses. This trend underscores a complex interplay of economic factors shaping the decisions of investors. According to a report from the EU Tax Observatory, Pakistanis have poured $10.6 billion into Dubai’s real estate market, making them the third-largest investors after Indian and British nationals.
However, beneath the surface a considerable question arises that why Pakistani investors are flocking to Dubai. Political instability, economic uncertainty and security concerns in Pakistan have eroded confidence among the business community. Many top business families have opted to relocate partially or entirely to Dubai, citing concerns over extortion and the deteriorating law and order situation in cities mainly in Karachi. The ease of doing business in Dubai, coupled with the perceived safety and stability it offers, has become a beacon for Pakistani investors seeking refuge from domestic challenges.
Nevertheless, this trend of capital flight should serve as a wake-up call for the Pakistani government. Addressing the root causes driving this exodus is imperative to stem further economic losses. Restoring economic confidence, tackling inflation and bolstering exports are critical steps that need to be taken. Additionally, fostering an environment conducive to entrepreneurship and investment within Pakistan is paramount.
Without addressing these fundamental issues, the country risks losing more of its economic potential to foreign shores. To reverse this trend and retain investment within Pakistan, concerted efforts are needed on multiple fronts. The incoming government must prioritise economic stability and growth, working swiftly to implement reforms aimed at improving the business climate and attracting investment. Measures to enhance infrastructure, promote education and skill development and address inequality are essential for fostering long-term economic prosperity.
QAZI JAMSHED SIDDIQUI
Lahore
Election 2024
On 8 February 2014, Pakistan decided to take its fate into its hands. The country that has been under siege since its birth chose to be vigilant this time. The morning of the 8th of February seemed calm and cosy. However, it proved to be the calm before the thunder. The people came out in massive numbers. Although they are aware of the country’s situation and the past electoral history, they were determined to cast their votes. I was at the polling station myself. There were people of all ages. One thing that stood out for me was the numbers in which the senior citizens came out.
The lack of organization, support and assistance was prominent. People were struggling to find their booths and had to search it on their own. My polling station was a three-story building and the polling booths were on all three floors. There was no alternative for the people who were old and were unable to take the stairs. Regardless, with some assistance from an acquaintance, they managed to reach their booths and cast their votes. Everyone had one thing in their minds; we can bring a change.
In conclusion, despite the logistical challenges and lack of support observed during the 2024 election, the resolute determination of the people to cast their votes remained unwavering. This momentous event signifies a pivotal shift in the nation’s consciousness, where citizens have chosen to actively participate in shaping their country’s destiny. As the echoes of democracy reverberate through the polling stations, it becomes evident that the collective aspiration for change serves as a beacon of hope for a brighter future.
ASMA HASANY
Via email
Political credit unravelled
In a recent Transparency International report, Pakistan’s Corruption Perception Index improved from 140th out of 180 countries, in 2022 to 133rd in 2023, signalling positive efforts for transparency, and I think now the people know who increased corruption and who decreased. In the tenure of Imran Khan, the country got an increase in corruption. While some so-called celebrities support him, labelling him as Sadiq and Amin, the Transparency Index reveals a contrasting narrative.
Notably, during Imran Khan’s tenure, Pakistan witnessed an increase in corruption, as opposed to the positive trend observed under the PDM Government and the Transparency Index provides empirical evidence to the contrary and they might find it difficult to accept this reality. The credit for this achievement is attributed to a comprehensive cabinet.
While PML-N President Shehbaz Sharif rightly acknowledges Nawaz Sharif’s contribution, it’s crucial to recognize the active involvement of various cabinet members, including Chairman Bilawal Bhutto Zardari and leaders from PPP and PML-N. It is unfair to solely credit a person who was outside the country, such as Nawaz Sharif, without acknowledging the collective efforts of the entire cabinet.
Leadership entails fostering progress among the people and in this context, both Bilawal Bhutto Zardari and other active members have significantly contributed to the nation’s prosperity. In the initial phase of Shehbaz Sharif’s leadership, he vocally applauded Bilawal Bhutto Zardari’s tireless commitment to the nation’s prosperity. However, as elections loom, there’s a noticeable pivot, with credit opportunistically shifting to his brother, a distinctive narrative twist in recognizing contribution.
AREEBA ALTAF
Larkana (Sindh)
Balochistan’s dilemma
The education situation in Balochistan has become a pressing concern that urgently requires attention. The Baloch people have been grappling with significant challenges in obtaining adequate education opportunities. Education, an essential pillar of any society, is regrettably being denied to the Baloch population.
According to recent statistics, the literacy rate in Balochistan stands at a meagre 46%, considerably lower than other regions in the country. As the country’s largest province, Balochistan has been grappling with infrastructure issues for years, particularly concerning its inadequate education system.
The consequences of this dire situation are felt most keenly by the thousands of students who are being deprived of their fundamental right to education. These youngsters are prevented from acquiring knowledge and developing the skills necessary to unlock opportunities for themselves and contribute to their communities.
Immediate action is imperative to rectify this situation. Investment in education infrastructure, teacher training programs and ensuring equitable access to quality education for all Balochistan students should be prioritized. Addressing this pressing issue can give the Baloch people the educational opportunities they deserve, empowering them to thrive and contribute to the overall development of the province.
TALAL RAFIQ RIND
Turbat
Box letter
Online scams
Online investment scams can wreak havoc on unsuspecting individuals, as an acquaintance of mine experienced firsthand. Targeted through social media platforms like WhatsApp and Telegram, she was lured into a seemingly lucrative opportunity with Altoira Trading Company Group-0129. Initially enticed by small payments for social welfare tasks, she soon found herself drawn into high-risk investment schemes promising substantial returns. Despite initial gains, her investment quickly spiralled into losses, leaving her in a dire financial situation. Her story serves as a cautionary tale, urging others to remain vigilant against fraudulent activities circulating on social media. Young people, in particular, are advised to exercise caution and avoid risking their hard-earned money for the promise of quick profits.
FARHAT NAZIR
Bhawal
