An article appearing in Washington Post gives a positive look of the political and economic situation of the country as terrorist attacks have declined by 70 percent and social and economic activities have started coming back to normal. The political leadership is in relaxed and optimistic mood and is trying to implement a road map for a peaceful and stable country. The political government is also trying to revitalize the sagging economy and raise the standard of living of less privileged stratum of society. The civil and military operations launched in various troubled areas of the country, including Karachi and tribal areas, have started giving results. The crime rate has declined in Karachi and peace is returning to the tribal areas. However, the country is facing acute and chronic energy crisis, unsettled relations with India and Afghanistan, and ‘bare-knuckled’ political system are hindering the economic development of the country. The government is facing economic as well as political challenges, but the fears of a civil war or economic collapse has been averted and world credit agencies and investment companies are advising investors to exploit business opportunities in Pakistan. The International Monetary Fund has extended a $6.2 billion loan and it expects a 4.1 percent growth in gross domestic product this year and up to 4.5 percent for the next year.
However, economic challenges are a major area of concern for some analysts who are skeptical of the government ability to overcome corruption and ‘investor-rattling’ political crisis. They believe that the economic situation has improved due to fall in oil prices in the international market, but the element of real optimism is missing in the whole situation.
As a matter of fact, the country could not rid itself of the evil legacies of the colonial era which are deep-rooted in every sector of life from financial discipline to overall economy. The performance of the government is not bad, but unless it brings basic changes in the official machinery, the country will continue to face challenges one after another. It is a good omen that Pakistan is expecting a huge Chinese investment in infrastructural projects which will give it an economic edge on the countries in the region, including India. No doubt economy is ruling the world in this age and the time has come the SAARC countries should forget the bitter past and look toward a common future. India should quit hegemonic style of foreign policy and come to terms with Pakistan and become partner of the Pak, China economic corridor.