"Political Leaders Call for Systemic Changes and Policy Reforms to Reimagine Pakistan"

Ismail urges systemic changes, Abbasi emphasizes political and constitutional reforms


A seminar titled "Reimagining Pakistan" was held at Habib University in Karachi where Pakistan's political and economic leaders gathered to discuss the ongoing crisis in the country. They called for systemic reforms and changes in economic and governance policies to overcome the crisis.

Former finance minister Miftah Ismail stressed the importance of building a coalition for growth, highlighting the issues of low literacy and poverty. Ismail shared his "10 pillars" for development, which included increasing exports, improving the law-and-order situation, and re-evaluating protectionist policies.

Former Prime Minister and PML-N senior leader Shahid Khaqan Abbasi emphasized the need for political and constitutional reforms and accepting past mistakes that led to the current situation.

Former PPP senator Mustafa Nawaz Khokhar expressed his view that democracy was never allowed to be established in the country and that the social contract between the state and its citizens via the Constitution was at its weakest point.

Other speakers at the seminar included former PM Nawaz Sharif's aide Fawad Hasan Fawad, former PPP leader Mustafa Nawaz Khokhar, former Balochistan chief minister Nawab Aslam Raisani, and others.

MIFTAH URGES CHANGES  IN SYSTEMIC

During the "Reimagining Pakistan" seminar held at Habib University, former finance minister Miftah Ismail spoke about the urgent need for systemic changes in Pakistan's economic policy. He claimed that the country's current crisis cannot be resolved by any political or military leader until a significant change is made. Ismail expressed concerns over high levels of debt and inflation, and stressed the need for a consensus on economic strategy.


He highlighted the issues of low literacy and poverty, stating that the economy would not perform if half the population remained illiterate. To address this, Ismail shared his '10 pillars' for development, which included the need for building a coalition for growth in which the elite would contribute to the economy by supporting the middle and lower classes. He emphasized the importance of gender inclusivity, controlling population growth, and implementing family planning, suggesting that the rising population was a critical factor halting Pakistan’s economic development.


Ismail also stressed upon the importance of education and suggested that money spent by governments on education budgets should be disbursed to families to better decide on their children's educational needs as governments have failed to do so. He further added that women must be included in the workplace and that gender-inclusive growth was a must. According to Ismail, those in power need to rethink policies with a focus on increasing exports, improving the law-and-order situation, energy, re-evaluating protectionist policies, and doing away with the artificial control on the Pakistani currency’s exchange rate without actual economic growth.


He suggested that the government should live within its means, strengthen local governments, focus on privatizing failed public enterprises, and let institutions do their own work. "Pakistan will continue to go to the IMF if our tax-to-GDP ratio does not reach 15% and exports do not rise to 15% of GDP," he said.