• Home
  • E-Paper
  • Archive
  • Contact us
  • Daily Pakistan
Wednesday, August 10, 2022
  • Login
No Result
View All Result
  • Home
  • Top Stories
  • National
  • City
  • World
  • Sports
  • Technology
  • Editorial
  • Opinion
  • E-Paper
  • Home
  • Top Stories
  • National
  • City
  • World
  • Sports
  • Technology
  • Editorial
  • Opinion
  • E-Paper
No Result
View All Result
Daily The Patriot
No Result
View All Result
Home Editorial

Nothing comes free of charge

by Daily Patriot
January 29, 2019
in Editorial
0
0
SHARES
0
VIEWS
Share on FacebookShare on Twitter

Undoubtedly Pakistan’s reserves position has enhanced with all the aid that has come from friendly countries. Yet there might still be no way of escaping an IMF program. Nevertheless, despite appreciation of all this help, the government must make certain that the procedure is crystal clear. So far the UAE handout, though welcome, is not vividly clear for the market to digest. The earlier the government explains matters, the sooner the economy can find some sort of direction. In general, speeches made by states-person praise one another and put two-sided ties on a high dais with a variety of diplomatic performances. Nonetheless, once you scratch the surface, you get to the realpolitik, with economic interests lurking around what are presented to the public as brotherly ties and fraternal bonds. Such is also the case with Pakistan’s ties with Gulf States, and we must not lose sight of the underlying realpolitik in the latest round of visits to firm up the financial package, a rewording for the latest spectacle of generosity by Saudi Arabian and Emirate leaders. Earlier in October last year, Pakistan received a $6bn package from Saudi Arabia. And now, deals have been made with the crown prince of Abu Dhabi in his day-long visit. With this visit, Pakistani and UAE leadership have met thrice now in three months. Last week, the two countries finalized the terms and conditions of a $6.2 billion support package to help Islamabad address its recurrent balance of payments crisis. None of the dollars offered to Pakistan in this package come free of charge. The money will have to be returned, with an interest on top of the principle amount, as is the norm in the international market. Secondly, the purpose of this package is to enable the country to pay for its import bill, mostly to entities in China with whom it has started doing business in the wake of the China-Pakistan Economic Corridor projects. Thirdly, like all such packages, this one will also have some strings attached. So, the government is best advised to fix structural issues in the economy so that the country does not need financial packages every now and then. The bottom line is that Pakistan needs to make its economy develop at a rate on which enough employment opportunities can be generated to manage the youth frustration, and it should also be able to pay for this growth without reliance on the international financial institutions or rich countries with generous cash-flows. Just by fulfilling these conditions will the government be able to align its foreign policy with national interests like consolidation of constitutional democracy, upgradation of religious and cultural diversity and fostering of an equal social order.

Government is best advised to fix structural issues in the economy so that the country does not need financial packages every now and then.

Daily Patriot

Daily Patriot

Next Post

Berlin and Paris conflicts continue

Latest News

In the West Bank, Israeli soldiers kill two armed Palestinians; a teen is slain in the fighting
World

In the West Bank, Israeli soldiers kill two armed Palestinians; a teen is slain in the fighting

by Daily Patriot
August 10, 2022
0

The military reported that Israeli security personnel killed two Palestinian fighters in a gunfight on Tuesday in the occupied West...

Read more
Police in Albuquerque, New Mexico, detain the main suspect in the murders two Muslim men

Police in Albuquerque, New Mexico, detain the main suspect in the murders two Muslim men

August 10, 2022
You can now erase messages that are two days old on WhatsApp

You can now erase messages that are two days old on WhatsApp

August 10, 2022
Pakistani students can now apply for a global scholarship:HEC

Pakistani students can now apply for a global scholarship:HEC

August 10, 2022
PTI vs army confrontation being planned in secret

PTI vs army confrontation being planned in secret

August 10, 2022

Good news is rare these days, and every glittering ounce of it should be cherished and hoarded and worshipped and fondled like a priceless diamond.

  • Home
  • Top Stories
  • National
  • City
  • World
  • Sports
  • Technology
  • Editorial
  • Opinion
  • E-Paper

© 2020 DAILY PATRIOT - Powered By SmartX DigitalSMARTX DIGITAL.

No Result
View All Result
  • Home
  • Top Stories
  • National
  • City
  • World
  • Sports
  • Technology
  • Editorial
  • Opinion
  • E-Paper

© 2020 DAILY PATRIOT - Powered By SmartX DigitalSMARTX DIGITAL.

Welcome Back!

Login to your account below

Forgotten Password?

Create New Account!

Fill the forms below to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In