Every year the new year resolutions are being made, only to be broken especially weight loss, diet control. As a nation we need to make long lasting and out of box resolutions for the coming year but vow not to lose sight of the achievements we need to make for this beautiful country. No point crying over the state of the economy. Spilled milk is gone. Let’s have new resolutions to make the country it was meant to be; a welfare state. The year is 2020; an opportunity to have 20-20 vision. Let 2020 be a year of resolve and not just another year. Taking matters positively is important because negative positions are never helpful.
Improvement in the quality of lives of the poor has begun. It has been too long in the shades of poverty. The government needs to take major and bold economic and financial initiatives by declaring 2020 as the year of “Indigenous Production and Financing” (the Resolution) in the fields of Oil & Gas, Hydro, Wind, Solar, Geothermal, Grains, Pulses, Vegetables, Fruits, Milk, Textile, Engineering Goods, Steel, Cement, Chemicals, Paper & Board, Jeeps, Cars, Motorcycles, Cycles, Electronics, Artificial Intelligence, IT, Biomedical, Pharma and high value added products; and Pakistan Stock Exchange (PSE) bouncing back into black. The government needs to engage with the general public, media, trade and business chambers, think tanks and academia to achieve its goals and targets.
The government needs to appeal to all walk of lives, especially the entrepreneurs to come forward to change the destiny of Pakistan by giving their full energies for Indigenous production and creation of jobs. SECP, SBP and FBR needs to make business easy; a change is indeed needed to accelerate GDP growth. The present laws, rules, SROs, CGO and practices are recipe to recede only, a resolve is needed to reduce and ease out regulations in the coming year. Portals like PM Complaint portals are needed in SECP, SBP and FBR to fast track businesses. The Banking and Corporate system is becoming difficult day by day, which needs to be reversed.
KIBOR needs to be slashed down to 2% for locally manufactured plant, equipment and machinery and down to 4% for Working Capital coupled with tax relief for the corporate sector is the need of the hour.
Drain on the economy demands fast track revival of Pakistan Steel Mills, PIA, DISCOs and other PSEs. Electricity and gas losses and pilferage are taking heavy toll on the economy. 2020 should be year of corporatizing GENCOs, NTDCL, CPPA-G, PEDO, STDCL and alike.
One major stumbling block holding PSEs from prospering in PPRA rules and provincial procurement rules, NAB and FIA. The government may enact much business like procurement rules for the federal and provincial corporate sector and anti-corruption measures. The present procurement rules, NAB Act and FIA are in fact applicable to the government departments but the corporate sector happened to be in unwarranted cross fire. The Board of Directors need to be empowered. OGDCL, PPL and provincial holding companies can do wonders in oil and gas indigenous production and road to self- sufficiency without outdated PPRA rules and NAB. Similarly, the tolling companies SNGPL, SSGCL and PSO also needs to be removed from the shackles of PPRA and NAB.
In 2020, a major thrust should be given to development of multiple hydro power stations of all sizes and infrastructure because these tend to create jobs and pull all industries up.
The government should provide opportunities and way forward and trust the destiny on young shoulders of this nation.
“With faith, discipline and selfless devotion to duty, there is nothing worthwhile that you cannot achieve“
Quaid-e-Azam M. A. Jinnah
The potential of Pakistan is infinite. The strong arms can do wonders and make Pakistan invincible, prosperous and true welfare state through “Indigenous Production and financing”. Country will save precious billions foreign exchange, create millions of jobs and improve the quality of life of poor masses- our vision.
The President, PM, all Ministries/Advisors/SAPM and Government functionaries may devise their strategies to accomplish the Resolution. The Planning Commission needs to revive the 5-Year Plans, Energy Review Group and create expertise. PM vision of 10 Million jobs and 5 million houses is not far away with out of box solutions in 2020.
For once the government and judiciary need to adopt corporate sector behavior and move the matter fast track. Adoption of IT is the need of the hour. The banking system is slow and out of synch due to IT breakdown; unheard in 21st century but a fact with our banking system.
As a nation on the move, lets resolve to bring a paradigm change in Pakistan’s industrialization, agriculture and financing to make a frog leap past other economies and drastically improve quality of life indices.