PRIME MINISTER Imran Khan has rightly lauded overseas Pakistanis for their overwhelming response to the Roshan Digital Account, calling them an asset for the country for their contribution to the economy. Speaking at the launch of two new products — Roshan Apni Car and Roshan Samaaji Khidmat — especially created for RDA account holders on Thursday, he pointed out that ‘the only way to bridge the balance of payments is by tapping overseas workers as long as the country’s exports do not increase to the level of its imports’. Indeed, the billions of dollars sent home by Pakistanis working abroad have helped the country pay for its burgeoning import bill for several years now in the wake of stagnating exports as well as plummeting foreign investment and other inflows.
Overseas workers can play an important role in the economic progress of their home countries. India and China are two major examples in our neighbourhood where the two countries’ non-resident citizens have played a significant role in their economic transformation. They have not only been remitting their savings for investments but have also changed the world’s perception of their nations. However, it is sad to note that successive governments in Pakistan have failed to channel remittances sent by the country’s non-resident citizens towards industry and other productive sectors to boost production and exports. Instead, there is a propensity to squander the hard-earned money of Pakistani immigrants on luxury imports for the wealthy. Little wonder then that Pakistan is repeatedly forced to seek support from the IMF for mitigating its balance-of-payments troubles. The incumbent government has taken several initiatives to successfully encourage overseas Pakistanis to send more dollars back home than before for investment in the stock market, government debt and the realty sector through RDA. Still, it needs to do more to persuade non-resident Pakistanis to bring back their savings to invest in the manufacturing industry to enhance growth, create jobs and make up for the shrinking foreign investment. The country needs such initiatives more than ever before.
A critical phase
THE coming weeks are critical for Pakistan’s Covid-19 response. With a national positivity ratio of 10pc and an average of over 150 daily deaths this week, the situation is as alarming as ever. According to NCOC chief Asad Umar, the number of critical-care Covid patients on oxygen reached 5,360 on Friday — a figure that is 57pc higher than last June’s peak.
Though the federal minister tweeted that the government is working on building oxygen capacity, given the rate at which the virus is spreading it may not be enough. As the nightmare unfolds in India, the desperate search for oxygen appears to be a key feature in the heartbreaking pleas of citizens who turn to social media for help.
Even at Pakistan’s current positivity rate, oxygen availability continues to be a major constraint. Any higher, and the country will be plunged into the hell that India is living through right now. Along with oxygen availability, trained doctors are a finite resource. If the hospital inflows of critical-care patients increases, hospital staff will be left to make the heartbreaking decision of who lives or dies — a reality we have seen in Italy at the start of the pandemic and now in India.
Given these realities, SOP compliance and prevention in the last two weeks of Ramazan are vital. The alternative will be the near total collapse of the country’s healthcare infrastructure. The end of Ramazan usually sees huge crowds in indoor markets set up for Eid shopping. And on Eid, families make multiple visits in a day to relatives —largely indoors as temperatures are high. If Eid activity continues as per normal, the post-Eid period will be dark. Here, the government’s efforts to enforce SOPs and send the right message are critical. Unfortunately, even public officials, such as the KP health minister, Taimur Jhagra, are seen violating restrictions. At a time when the provinces need clear leadership, such a message is devastating for the Covid-19 response.
Even if Pakistan emerges from the third wave peak, the Covid-19 threat will not go away. With restrictions not enforced, compliance levels go down and the infection spreads with a vengeance. Pakistan has one of the lowest vaccination rates in the world — a tragedy given how much the healthcare system, economy and education have suffered in the pandemic. Though the government has now announced vaccinations for those who are 40 and above, the fact is that we have managed to vaccinate only 2m of our 220m population.
The government expects to get 15m new doses of the vaccine in the next two months, but it must have a better plan in case of delays. Till now, the vaccines being administered in the country are largely donations from other countries or private imports. The government must do more to strengthen its vaccine programme, or face the consequences of Covid waves every few months.
Softened Saudi tone
THE surprising change in tone of Saudi Crown Prince Mohammed bin Salman towards Iran is indeed a welcome development in a region torn apart by war and geopolitical rivalries. In a recent TV interview, the kingdom’s de facto ruler said he aspired to have a “good and special relationship” with Iran, though also chiding Tehran for its “negative behaviour”. This conciliatory tone is far from the warlike statements the prince was issuing not too long ago, threatening to take the battle to Iran. Over the last few years, Saudi-Iranian relations — hardly cordial in the post-1979 period — reached their nadir when Riyadh executed Saudi Shia cleric Sheikh Baqir Al Nimr, in retaliation to which a mob ransacked the kingdom’s embassy in Tehran. Moreover, across the Middle East, both powers have been on the opposite ends of the geopolitical spectrum. Saudi Arabia remains part of the American geostrategic alliance in the region, whereas Tehran has been the biggest adversary of this bloc in the aftermath of the Islamic Revolution. Also, both countries have supported opposing parties in the Syrian civil war and the Lebanese political arena, while Riyadh and Tehran are fighting a brutal proxy war in Yemen. Given these realities, a Saudi-Iranian detente is a welcome development.
The major question is: what has prompted the crown prince to change course? Some say the change of guard in Washington may be the trigger. While the Trump administration gave a practical carte blanche to the Saudis, Team Biden does not appear to be as accommodating. Perhaps the realisation has dawned in Riyadh that instead of depending on outsiders to settle regional issues, the countries of the Middle East need to sort out their own problems. The Saudi prince’s interview came after reports had emerged that Saudi and Iranian officials had met in Iraq to discuss a host of issues. Some observers have said senior intelligence and military officials from both sides were involved, while other key Arab states, including the UAE and Egypt, were also reportedly talking to Iran. This process must be carried forward in the interest of regional peace. Primarily, it is hoped some accord can be reached to end the destructive war in Yemen, and to start rebuilding a shattered Syria. Any Saudi-Iranian rapprochement will also have a positive impact on Shia-Sunni relations across the Islamic world, and both Riyadh and Tehran need to put in their best efforts to make the effort succeed.
