In a recent national TV interview, Mr. Shabbar Zaidi, a prominent figure in Pakistan’s economic landscape, underwent a remarkable shift in his perspective on the nation’s economic future. Just days earlier, he had painted a bleak picture of impending economic challenges. However, in an unexpected turn of events, Mr. Shabbar has now expressed newfound optimism about Pakistan’s economic prospects.
Initially, Mr. Shabbar attributed the failure to combat smuggling and tax evasion, particularly within the real estate sector, to former Army Chief General Javaid Qamar Bajwa and the corps commander of the southern command. However, he abruptly shifted the blame, now placing responsibility for hoarding, smuggling, and tax evasion squarely on the Members of the National Assembly (MNAs) and the political elite.
Mr. Shabbar didn’t mince words when he asserted that around 80% of Pakistan’s current economic and financial challenges could be traced back to the policies of the PML (N) government, with the remaining 20% shared among other political parties. He made this sweeping statement without qualification.
Notably, Mr. Shabbar had previously advocated for a solution to Pakistan’s economic struggles through free and fair elections and the establishment of a fully representative government. He viewed this as the ultimate remedy for the financial challenges plaguing the nation. However, he now suggested that any future political party assuming power might reverse the positive measures implemented by the interim government, potentially leading the country back into dire economic straits.
This shift in perspective added an intriguing dimension to the ongoing economic discourse. In an unconventional move, Mr. Shabbar proposed that, rather than holding elections, the country should consider forming a national government comprising patriotic, competent, and eminent individuals from all parties. However, he didn’t elaborate on the constitutional, legal, or lawful means to achieve this objective.
Earlier, he had consistently advocated for the government to officially declare a technical default, a stance he maintained unwaveringly. However, he now expressed surprising optimism regarding Pakistan’s economic and financial prospects. He stated that the positive steps taken by the current government, including cracking down on hoarders and mafias, enforcing stricter border controls, imposing a 10% processing fee on Afghan transit trade, and clamping down on illegal currency dealers, had addressed many fundamental economic and financial distortions.
Interestingly, he appeared to backtrack from his previous statement that there were no viable solutions to the country’s economic woes. This shift left many wondering why he had initially painted such a doomsday scenario.
One possible explanation is that Mr. Shabbar’s earlier assessment was based on the assumption that the establishment would maintain its existing posture, effectively supporting the status quo regarding issues such as smuggling, illegal arms dealing, and influential mafias.
However, to the surprise of many, a new era seems to be dawning in Pakistan, departing from established norms and addressing long-standing issues head-on. The leadership at the helm has exhibited unwavering resolve and determination. Their message is clear: “There is no choice but to rise.” They have issued a stern warning that anyone engaged in illegal, unlawful, anti-state, criminal activities, or corruption will be met with the full force of the state’s power, without exception or bias.
This resolute message has instilled discipline and order throughout the ranks. Authorities conducted a relentless crackdown on water hydrants, dismantling their facilities and confiscating their tankers. They also pursued electricity theft, disconnecting illicit connections, imposing fines, and incarcerating offenders. This demonstrated their commitment to restoring law and order.
In a decisive move, the government cracked down on powerful foreign currency dealers who were depleting the nation’s financial resources by selling Pakistan’s precious foreign currency reserves to foreigners or those with ill-gotten wealth for hoarding. They have been apprehended, their illicit currencies confiscated, and their businesses shuttered.
However, Pakistan’s stance has transformed under strong leadership. It is now prepared to take decisive steps in its own national interest, without hesitation or favor. This transformation is welcomed by many who have longed to see action against these criminals.
Mr. Shabbar Zaidi’s shift in perspective reflects a changing landscape in Pakistan’s economic and political arena. The current government’s resolute actions against illegal activities and influential mafias have instilled hope for a more stable economic future. Pakistan is on a path to address long-standing challenges and prioritise national interests above all else. This transformation is a promising sign for the nation’s economic stability.
Source: https://www.nation.com.pk/08-Oct-2023/economic-collapse-to-stability