Jang Economic Session: National security linked to economy, defence, say experts

LAHORE: Strong economy and defence are part and parcel of national security, public welfare and to ensure peace in the region so stable political system, coordination and corporation among the institutions is the need of the hour while increase in internal and external debts is alarming.

These views were expressed by the experts in the Jang Economic Session on “What steps are required to be taken by the government for strong economy and defence”. The panellists were Rahat Latif, Farooq Hameed, Ehsan Wayen, Qayyum Nizami, Khalid Paracha and Baber Murtaza. The session was hosted by Sikandar Lodhi.

Rahat Latif said the government could not reduce economic deficit despite tall claims in its election manifesto and increase in domestic and foreign loans was alarming. He said taking U-turn on national interest matters was not a crime while there was a need to cut down unnecessary expenses, increasing exports, resolving water and other crisis so that industry could be revived and new jobs created. He called for advance training of parliamentarians while ministry of foreign affairs needs to work effectively to improve country’s image globally.

Farooq Hameed said coordination among the institutions, accountability and stable political system was the need of the hour while security and economy were adversely affected due to fighting for others so strict implementation of the decision of not fighting for others needed. He said economic revival could not be possible without peaceful ties with neighbouring countries, including Iran, Afghanistan and India. Action against the non-state actors under National Action Plan (NAP) could play an important role in peace and prosperity, he said.

Ehsan Wayen said unfortunately every coming ruler complained empty national kitty while economy depended on national defence. He suggested implementing National Action Plan to get rid of non-state actors who spread terrorism trends. He stressed the need of focusing on agriculture and industrial sectors, imposing ban on building big houses, and ending landlordism to improve economy.

Qayyum Nizami said that strong economy and defence were the need of the hour while mega corruption had become a security risk and put the state institutions in trouble. He said India was far ahead of Pakistan on economic fronts so economic imbalances should be kept in mind. He stressed the need of charter of economy to control inflation and loans while tax collection was the biggest issue of the country. There is a need to develop tax culture among people besides bringing reforms in FBR system.

Khalid Paracha said that external issues put pressure on Pakistan’s economy while strong economy is the reason of existence of strong army so the politicians should be made independent to make national interest decisions. He said issues could be resolved if institutions and politicians remained in their limits.

Baber Murtaza suggested promotion of “made in Pakistan” culture to support economy besides evolving policies to discouraging the imported products along with protecting and facilitating huge potential industry. He stressed strict implementation of laws to increase the role of the FBR. He said all sectors should be brought in tax net besides making easy taxation system.