Election 2024 puts Pakistan on path to economic stability: Experts
PESHAWAR (APP): Widely accepted as free, fair and impartial, general election 2024 has marked a pivotal moment in the country’s journey toward political and economic stability besides bringing positive effects in people’s lives.
Political experts maintained that the present coalition government’s welfare and development initiatives launched during last year are already yielding tangible results, offering new hope and opportunities for the nation’s prosperous future.
Ikhtiar Wali Khan, Information Secretary of PMLN KP, explained that the recent development projects and Govt reforms have started pushing the country in a positive direction, especially after the landmark election 2024 that was widely recognized as free, fair and transparent.
“We have seen a sharp reduction in inflation and price hike, with the consumer price index dropping to a decade-low of 2.4 percent last month. The central bank has also significantly lowered interest rates by commercial banks, alongside youth empowerment programs under Uran Pakistan, caused positive trickled down effects on all segments of the society at the gross-root level,” he said.
One of the most notable achievements of the elected Govt is the launch of the Uran Pakistan program by Prime Minister Muhammad Shehbaz Sharif. This ambitious initiative has been widely lauded for setting a target of a one trillion-dollar GDP by 2035, with a projected growth rate of 6% over the next five years.
Uran Pakistan seeks to transform the nation into an export-based economy, foster a digital revolution, combat environmental challenges, and promote equitable societal development for the nation’s prosperity.
Under the ambition programme, Govt aims to increase its exports to 60 billion dollars within five years, enhance the freelancing industry to 5 billion dollars, and train 200,000 IT graduates annually.
It also sets a 50% reduction in greenhouse gas emissions over the next five years, increases in cultivable land and water storage, and a boost to renewable energy production.
Ikhtair Wali said the program envisions a drastic reduction in poverty and unemployment levels and a boost to development through public-private partnerships.
Emphasizing that these goal oriented measures have already strengthened the country’s economy and agriculture sectors over the last few months, he said an investor-friendly environment has been established, leading to positive outcomes.
On the agricultural front, he said the government’s initiatives are beginning to bear fruit with an increase per acre production of seasonal crops including wheat and sugarcane.
“Pakistan’s agriculture exports reached over three billion dollars last year, with a goal of reaching seven billion dollars this year,” he said, adding the government is also expediting the Rs1,800 billion agriculture package, which includes free seeds, affordable loans, and solarization of tube wells, all of which are expected to provide substantial relief to millions of farmers, orchards growers in all provinces of the country.
He said Green Growth initiatives, aimed at expanding forest cover and protecting biodiversity, are another key step in the Govt’s environmental commitment, addressing both climate change, air pollution, drought, desertification and wildlife conservation.
For bolstering small and medium-sized enterprises (SMEs), the government has simplified the loan application process, allowing easier access to financial support and enabling these businesses to contribute to national development.
Additionally, the Danash school network, which offers quality education to children regardless of their socio-economic status, is helping to cultivate a skilled, productive workforce.
On the political front, Ikhtair Wali pointed out that the government had made positive overtures to the opposition, particularly Pakistan Tehreek-e-Insaf (PTI), in the spirit of cooperation to carry the ship of democracy forward.
However, despite the government’s sincere efforts, the PTI did not reciprocate and end negotiations unilaterally for face saving after its founder conviction in a mega corruption case that exposed PTI negative politicking before masses.
Former Ambassador Manzoorul Haq commended the government for its firm stance on regional and international issues, particularly on Kashmir. He noted that Prime Minister Shehbaz Sharif has been vocal on these issues in international forums like the UNGA, garnering the support of Kashmiris as well as international friends and highlighting Pakistan’s commitment to their cause.
He also praised the strengthening of Pakistan’s relations with China and Gulf countries, emphasizing that foreign investment started returning to Pakistan as a result of the government’s pro-investment and economic policies.
Furthermore, international sports are making a comeback, with the Cricket Champions Trophy being a notable event, signifying the world’s trust in Pakistan’s security infrastructure.
Malik Ashfaq Khan, a senior lawyer, supported the government’s constitutional reforms, including the 26th amendment and the PECA laws, which aim to provide speedy justice to litigants and curb the spread of fake news.
The PECA law, in particular, is expected to ensure accurate information on social media platforms while regulating content uploaded by users.
Experts agreed that Pakistan’s economy is now on a stable track, as evidenced by favorable reports from international financial institutions. Despite the historical political instability that often-derailed democracy and led to the downfall of elected leaders, experts are hopeful that the opposition will now respect the will of the voters, expressed during the February 8, 2024 elections.
Political stability, they argue, is essential to address the country’s most pressing economic, geopolitical and security issues efficiently and swiftly for lasting peace and stability.
As Pakistan moves forward in the right direction, all eyes will be on how well the government can leverage the speedy momentum from these goal oriented reforms and initiatives to ensure long-term economic prosperity and political unity imperative for the nation’s progress.
The experts expressed the hope that PTI Govt in KP would compete in terms of good governance and uplift programs with other provinces’ administration rather than wasting energy in aimless agitation politics.
