External debt

While addressing the convocation of the Pakistan Institute of Engineering and Applied Sciences (PIEAS) in Islamabad on Wednesday (Nov 29), President Mamnoon Hussain highlighted the problems that are being faced by Pakistan. The major problem for the country’s economy is foreign debt which has shot up to more than $10 billion. However, no visible development is being done to generate enough revenue to pay back the loan. All of these problems can be dealt with if we carry out adequate steps. Education, especially technical education, plays a pivotal role in development therefore we must focus on all kinds of education. During the address, the president stated that CPEC and OBOR will change the present as well as the future of our nation and we have to be well prepared and well equipped for changes to come and must be ready to avail ourselves of the opportunity arising out of CPEC. Large capital inflows are expected that will boost our economy and bring large-scale employments of all sorts.
He also said that corrupt elements must be taken to task and society should make their social boycott to mark them and make them look different and by doing so we will further eliminate this nuisance from our society. Whatever the president is indeed right. But we have to do a lot more to tackle the existing problems. The government must devise some strategy for creating employment opportunities for unemployed Pakistanis, who are not in thousands, but are in millions.
Iftikhar Mirza
Islamabad