Can our economy improve? – YES

Every day we read in newspapers and listen in the news that even if IMF package is received, its program gets implemented, Pakistan’s economy cannot get better unless there are:

• free and fair elections
• establishment is reigned, and
• there is rule of law in the country.

Let me try connecting dots and explain what elections have to do with economy, why it is extremely important to hold urgent, free and fair elections even though country is facing tons of challenges, including terrorism, unemployment, inflation, reduced foreign exchange reserves, declining exports, etc. etc., why establishment needs to be put in place and how the rule of law are related to economy.

Let’s start:

• Economy is better when people in the country are earning.
• People earn when they are employed.
• People are employed when business and production are growing.
• Business and production grow when more factories are built.
• Factories are built when machines and raw materials are made or imported.
• Machines and raw materials are imported when country has lots of foreign exchange.
• Country has lots of foreign exchange when foreign exchange comes into the country.
• Foreign exchange comes to the country when there are more exports, foreign investment, or foreign remittances.
• Someone from outside the country makes foreign investment or remittances or buys from our country when they feel it is safe.
• Foreign investment/remittances are safe when.
  • good policies are in place, and
• • judicial system is in place.
• Good policies are in place when there is competent government in place.
• Competent government is in place when they are accountable.
• Government is accountable when people select it and have faith in it.
• People have faith in a government when they select it.
• People select a government when there are elections in a country.
• Elections are held in a country when institutions are strong.
• Institutions are strong when they are properly protected.
• Institutions are protected when Judiciary is strong.
• Judiciary is strong when they are independent.
• Judiciary is independent when agencies cannot pressurize or blackmail them.
• Agencies cannot pressurize or blackmail judiciary when they do not have illicit audios and videos.
• Illicit audios or videos do not exist if agencies do only what they have been hired for
• Agencies do only what they have been hired for when elected governments are strong.
• Elected governments are strong when elections are free and fair.

Now let’s work back:

• When elections are held and are free and fair, people select competent representatives.
• Competent representatives make good policies.
• Good policies improve business environment.
• Good business environment improves people’s faith in the system.
• People’s faith in the system helps them making investment.
• Making investment helps producing more.
• More production helps creating more jobs and exports.
• More jobs and exports improve economy.
• If any of above goes wrong, it gets corrected thru judiciary.

Moral of the story:  The only actions that will make things better in our country are:

• Holding the elections urgently
• Keeping elections free and fair, and
• Putting the establishment in their place as any other government department

Of course, it will take time for results to become visible and things may not start improving right away but they will definitely stop declining any further for sure.

Else, “Pakistan say zinda bhhag”.

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Babar Saeed

bsaeed@yahoo.com

February 22, 2023