By our correspondent
KARACHI: In a recent meeting held at Afaq Ahmed’s residence, Shaukatullah Farooqi, the Vice Chairman of the Muhajir Qaumi Movement (Pakistan), voiced deep concerns over the escalating economic crisis plaguing the country. Engaging with a delegation of industrialists from the Korangi Industrial Area, Farooqi criticized the government’s approach to managing state-owned enterprises, particularly its ongoing privatization efforts. He singled out the privatization of Pakistan Steel Mills as particularly alarming, arguing that such moves jeopardize not only the nation’s economic stability but also its security and sovereignty.
Farooqi articulated a strong critique of the government’s reliance on political maneuvering to secure support, suggesting that it frequently resorts to purchasing votes to pass laws and budgets. He expressed disappointment at the administration’s failure to tackle pressing financial crises and economic instability, indicating a lack of effective governance and foresight. “Instead of creating an environment conducive to investment and growth, successive governments have leaned heavily on foreign aid, loans, and the sale of national assets,” he remarked. This reliance, he warned, creates a cycle of dependency that ultimately hinders the country’s potential for true economic development.
Emphasizing the gravity of the situation, Farooqi cautioned that such reliance on external assistance and asset liquidation does not pave the way for prosperity; rather, it leads to a form of economic enslavement. He urged the ruling parties to reconsider their strategies, advocating for a shift away from temporary fixes and towards policies that foster self-sufficiency and empower citizens. By distancing themselves from these detrimental practices, Farooqi believes that the government can help build a more independent and resilient society, capable of overcoming the economic challenges that currently threaten its future. His comments underscore the urgency for a fundamental reevaluation of economic policies to secure a prosperous and sovereign Pakistan.
