“Our micro economic indicators are stable and through economic reforms the country has achieved economic sovereignty. By the end of this year the country will say goodbye to IMF programme as we are in a position to raise resources on our own from the international market,” Aziz told the National Assembly yesterday after winning the vote of confidence.[Shaukat Aziz promises to say goodbye to IMF loans]
That’s a statement by Pakistan’s third Prime Minister under Gen. Musharraf. But the problem is that if you raising capital from the markets, you should provide stability and an environment for businesses to thrive. If you try to globalize without having the infrastructure in place, the international investors can be much more tough than the IMF
The image of Pakistan for the outside world is not that of a region of stability. With assasination attempts on the current leaders and with terrorists using the land as staging areas for activities against India and Afghanistan, it may not look favourable for international investors. And it not just Pakistan’s enemies who are telling this.
Here is our other dilemma. The world is moving towards integration
The statement seem to have been made for internal consumption. Also pakistan might not need to approach international investors for resources, it can get whatever resources it want by conning the US.
The foreign business in Pakistan is thriving like never before becuase of the Govt’s investor friendly policies.
It is a great achievement that Pakisan would be able to Say GoodBye to IMF loans.
As far as the stability and peace is concerned, Pakistan is having to face all these troubles because of being part of international coalition against terrorism. And Pakistan is really paying the price for it like no other coalition country.
M Tabraiz Feham
http://tabraizfeham.blogspot.com