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Print Print edition: 2011-02-27

Prerequisites for a roundtable on economy

Published Updated

The Roundtable Conference of all political parties called by the government to discuss the dire economic situation facing the country is a welcome development and a step in right direction. That it is a prerequisite, is a foregone conclusion, if we are to build national consensus on urgent steps to rescue the economy.
That it is desired is a reflection of the wishes of all those, with a stake in the nation's economic well-being including the business community, who along with the 170 million people of Pakistan, have borne the brunt of the severe economic downturn. Definitely with many high-profile personalities, sitting together at one table, representing all shades of opinion in the political spectrum, some sort of consensus would be forthcoming on ways to bring Pakistan from the brink of economic collapse.
This conference, initiated at the highest level embodies the hopes and aspirations of the nation. Hard even unpopular decisions will have to be made, and as such may create ripples on the economic front.Being an elected representative of the business community and a businessman myself, I fully endorse the Roundtable initiative, as I have pushed the idea at all opportunities including meeting with government, articles in various publications and the leading dailies.
Having said that, I strongly feel, the chances of achieving success have been compromised somewhat in that not all stakeholders with a direct stake in the economy, have been consulted. Not all prerequisites and essentials in preparation for this important moot have been fulfilled. As a prelude to this major exercise, the government should immediately convene a meeting of all Chambers of Commerce in the country as they are the real stakeholders. Without consultation of the business community, the upcoming all parties roundtable would fail to achieve the desired results.
There are two areas, where the government should focus immediately to get instant results. The first and the foremost is the law and order situation and the second is political harmony. These two factors are causing undue damage to the country as a whole. A minor law and order related incident in some remote area of the country is given the same importance by the businessmen sitting in the United States or in Germany as they are unaware of the prevailing ground reality in the country.
The ongoing political uncertainty is also sending a very wrong signal abroad. There are no two opinions about the fact that difference of opinion exists in every society and is the accepted democratic way of life. Equally it has to be said that the way sentiments are expressed in our country hardly finds any parallel in the history of civilised nations.
It would be wiser on the part of the politicians, when they speak, to carefully choose their words and keep in view our national interest. They have every right to pinpoint the wrongdoings being committed by those sitting at the helm of affairs but decency is the name of the game.
Progress in these two vital areas, namely law and order and political harmony, would create an environment conducive to economic activity and the economic situation would definitely take a positive turn. To me the economic challenges are equally important but they come third in my list of government priorities.
Yes, there is a need to take care of governance-related issues; there is a need to look into corruption which has become so rampant in our society. Yes, the inflation, the poverty, the unemployment all need a concerted government effort and methodology but all these have a direct relationship with 'law and order' and 'political stability'.
It is our national character that we tend to look at things through jaundiced eyes. Once again doubts are being created by some circles that the roundtable on economy is being convened to divert the attention of the people; that government which is on the back foot and under pressure from all sides is merely buying time to delay the inevitable from happening. My humble request to all in this society, particularly the armchair critics, is to let it happen. The results of the conference would be unfolding soon enough and speak for themselves. Last but not the least the government would also have to take on board issues related to governance as bad governance tends to nullify everything in our national life.
The writer is Vice President Saarc Chamber of Commerce & Industry

Copyright Business Recorder, 2011

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