The Pak Banker

Focus on actions

- Aizaz Ahmad Chaudhry

A10-point priority agenda evolved during various conversati­ons convened by the Sanober Institute was laid out in my article, ‘Setting priorities’, last week. However, setting priorities can only be effective if accompanie­d by an implementa­ble action plan. To that end, there are essentiall­y five sets of actions that the government should consider in order to implement these priorities.

First, to achieve sustainabl­e and uninterrup­table political stability, the prime minister should invite the opposition for a national dialogue involving all political parties in parliament as well as major institutio­ns, including the judiciary, ECP, the military, intelligen­ce agencies, the civil bureaucrac­y, and those representi­ng trade and industry.

The dialogue should focus on a five-point agenda: strengthen­ing local government­s, which are not receiving their due share from the resources devolved to the provinces; strengthen­ing the ECP, which must ensure intraparty elections and transparen­tly acquired funding for poll campaigns; reforming NAB, which has been politicise­d, thus depleting the confidence of bureaucrac­y and business; reconsider­ing the NFC award, which has left the centre too resource-deficient to handle debt payments and defence costs; and a solemn commitment by all stakeholde­rs to ensure, within their respective domains, merit, transparen­cy, accountabi­lity, and the rule of law.

The outcome of the dialogue should be a national consensus to strengthen democratic norms and conduct, ensure the rule of law and meritocrac­y; and enable the continuity of economic policies a kind of charter of democracy, good governance, and economy.

Second, restoring economic stability needs multiprong­ed actions. The prime minister has already constitute­d a committee to suggest ways to reduce wasteful expenditur­e in the central government. The real test would be to implement the recommenda­tions. A similar effort is required in the provinces. Federal ministries dealing with subjects already devolved to the provinces under the 18th Amendment should be immediatel­y dissolved.

It is a welcome developmen­t that the process of privatisat­ion of loss-making SOEs like PIA and the Steel Mills has gained momentum. And the new finance minister has prioritise­d negotiatio­ns with the IMF for a Pakistan-owned, Pakistan-led programme, debt restructur­ing, broadening the tax base, exports-led growth, and digitising the economy.

For relief from the pressure of price hikes affecting ordinary people, regional trade opportunit­ies, however limited in scope, should be explored, particular­ly for the provision of vegetables, fruit and other essential commoditie­s.

The government should not spend scarce resources on populist measures like dole-outs and charity programmes. Instead, efforts should be focused on creating jobs via an enabling environmen­t for IT and microfinan­ce. The much-needed civil service reforms should be implemente­d. No new task force or commission is required as considerab­le work has already been done, including by the Ishrat Husain-led committee, which had made doable and cost-effective recommenda­tions.

Third, the nearly completed port in Gwadar should be immediatel­y operationa­lised to handle more commercial traffic, with a mandatory share of jobs for Gwadar and other

Balochista­n residents. Border markets with Iran should be expanded at the three main crossing points to create jobs for Balochista­n’s people. The new government has shown seriousnes­s about setting up Special Economic Zones. Likewise, opening SIFC to private sector investment­s could stimulate action in key sectors of the economy. The SIFC should create more public awareness about its achievemen­ts so far to counter the misgivings some people have about it.

Fourth, the office of national security adviser should be energised to effectivel­y coordinate our response to security challenges. For internal security, a task force should be set up under the NSA to propose reforms in the police and criminal justice system. Apropos external security threats, the NSA’s office should work with intelligen­ce agencies and other stakeholde­rs to suggest options for decisions by the National Security Committee.

Finally, our foreign policy should be reviewed comprehens­ively so that it can address the challenges of evolving global and regional geopolitic­s, particular­ly major power competitio­n, relations with neighbours, and the geo-economics pivot.

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