India is proud of attracting $300 billion investment this year and Pakistan could not attract even half of billion foreign investment during the period. The government has so far failed to declare economic emergency in the country or form a group of experts to discuss ways and means to stimulate business, trade and industrial activities. It seems the men in the authority have no interest in the development of the country other than doing lip service day and night. The element of sincerity is required for the progress as there is no dearth of talent, money and potential in the people of this country. When ad hoc or makeshift arrangements are made, the result will be a failure and this is going on in Pakistan since independence. According to newspaper reports, the Pakistan Economy Watch has criticized the architects of the Strategic Trade Policy Framework for 2015-18 which covers the interest of the industry in Gujranwala Division, but ignores industry in other parts of the country. The organization has demanded an action against those who prepared draft of the policy and had failed to safeguard the interest of the business community as a whole.
According to the Watch, the exports of the country continue to fall in the absence of any practical steps by the government functionaries. The trade policy not only belies ground realities, but is also defective and inconsistent, questioning the over-ambitious export target of $35 billion by 2018. The policymakers seems to be playing with economic future of the country as they have preferred some sectors but ignored the others. The trade deficit is likely to reach $28 billion during the current fiscal year and the policy needs to be revised and fixed for the cause of national interests.
The political leadership have to understand causes and concerns of its policies and its way to govern the country. More than half tenure of the present government has been consumed, but no change is seen on the industrial or economic fronts. The government must prod its missions abroad to create awareness about business, trade and investment opportunities in Pakistan. There is no harm in inviting the Chinese, Turkish and Russian entrepreneurs to invest in Gwadar and industrial zone along the economic corridor. The government will have to change rules of the business to facilitate foreign investors. If India with all odds can attract $300 billion investment just in one year, why not Pakistan which has better geographical location and better infrastructure than that country. The time is running out and sooner the government takes action, the better.
