As the national economy is waiting for urgent steps for the resolution of various pressing issues, Federal Minister for Planning, Development and Reforms Ahsan Iqbal is ready to embark on an economic long march from August 11 to mark the successful completion of the second year of the government’s 10-year Vision 2025 programme. Three major issues are confronting the economy. First the energy crisis, second tax reforms and third security issue. The government has so far failed in all the three as load shedding is continuing to haunt general public as well as the industrial sector, tax reforms are still a long way to go and law and order is not improved to ensure protection of life and property of the local and foreign investors. In his press conference, the minister made a preemptive move to stop any question about the government performance during its three years tenure in the office.
There is no doubt in the government’s sincerity, but the question is about its capacity, ability and credibility. The nation is looking for the team of economists of which the Pakistan Muslim League was proud of during the election campaign. Pakistan needs an economic long march, but there needs a whole package to start a journey. Travelling without necessary elements and components will end in fiasco. The minister, however, hopes that the new government will also continue the Vision 2025 programme after 2018. The programme has so far not brought anything change in the economy and what will be the shape of the economy after the next 8 years can be anybody’s guess. There is a habit in Pakistan that coming government rejects the policies of the previous government and one can easily understand the fate of the Vision 2025 programme after 2018 in case the PML government does not win the elections.
Industry needs electricity and a fair taxation system. On the contrary, the country’s tax system is complex and unbridled powers in the hands of individuals brings no service to the economy, but mismanagement and corruption. The government must realize the situation and allow the investors to concentrate on business and not on the issues which are actually non-issues. The minister rightly pointed out that the country needs to increase productivity, quality and innovation. But this can be only possible when business community is given a free hand and a fair chance. As the Chinese businessmen are willing to make joint ventures with their Pakistani counterparts, investors from other countries should also be invited to set up joint ventures with Chinese companies in Pakistan.
