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Sunday, December 5, 2010

Pakistan Must Learn From the Economic Progress of India


There is no doubt and it is a fact that India is Pakistan's enemy since the partition of United India in 1947. India imposed three wars on Pakistan. But, it is a fact too that India is less corrupt than Pakistan. The people of India are loyal, patriotic and sincere to there country. If they are occupying Kashmir and killing innocent Kashmiris, not obeying the resolutions of UN, so are doing for their country because they do not want to give an inch of land to the people of Kashmir, that they have no right to be there. But do not do anything for our nation and country but do every thing for individual benefit, whether he is a Pakistani politician or a common man.
How India and Bangladesh are ahead of Pakistan economically, if our rulers want to see Pakistan a prosperous country then they must follow their examples.
If we compare Pakistan in 1947 and now, of course, our economy has some progress, but the problem is that opposite to developed countries, the fruits of progress are not reaching to masses rather only to limited and already rich ones. Today, nearly 80 m people are living below the poverty line in Pakistan. the remaining 104 m have daily earnings from Rs. 100 to 200 (US Dollar is 1: 86). Though, Indian government too has heavy burden of loans, and high inflation rate, but our condition is more critical. Our finance Secretary says," government departments are working on subsidy, no department has capability to earn some thing for itself. Government is meeting its expenditure by making currency notes or getting loans from IMF or World Bank. these loans are too dangerous for Pakistan's economy. Today, Pakistan has internal and external loans worth 58.412 bn dollars. This amount makes 64 % of GDP. That shows the worst economic condition of the country. Unfortunately, every government in Pakistan did not care for minimizing the loans but preferred to get more loans to provide oxygen to economy on bed. There was no harm in getting loans if these would have been used on the providing the facilities to people or doing the developmental works for which there were obtained. A meager amount of these is spent for the purpose, and renaming lion share is spent on foreign tours of the rulers or lavishly livings of the leaders. Pakistan pays nearly $ 5.641 bn annually for interest on the loans. The aid given by France, Japan, and South Korea to Pakistan for flood affectees have been paid as interest Pakistan has the highest inflation rate in Asia, which is 15.7, therefore price of food items have gone up and common man is being crushed by price hike. The essential commodities like petrol, diesel gas, electricity are too high and out of the reach of Pakistanis.

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