Sanctions and their impact

Author: Abid Mustikhan

A cyclone is forecast and black clouds are hovering. Pakistan waits for the devastation to begin before it can start taking measures to act. But, of course, by then the damage will already have been done. Then we have the politicians in general, shedding crocodile tears over spilt milk, justifying their negligence with lame excuses and their party members bestially shouting together at each other on television shows with none of them being understood. The anchors enjoy the shouting considering the participants nothing but fools with no etiquettes and ethics trying to prove the impossible of two wrongs to be right. Each television channel has a topic on repeat flashing the devastation caused all day long, their advertisements popping up now and then. This is a job well done till such time that there is another calamity.

For those at the helm of affairs, wake up and see what is going on around you. The geopolitical paradigm shifts in the region and the impact of the strategy of the west i.e. G-8 and the US. I am the policeman of the world is a synonym for the proverb “I am the king of the jungle and as per my own wish, I can either produce litters or lay eggs.” Unfortunately, all actions of the policemen of world together with their rookies have badly backfired creating the havoc of retaliation by indigenous militant groups within. The influx of refugees into Europe can carry diseases as well as militants to raise more havoc at a later stage with an impact similar to the exodus of the Afghan population into Pakistan during the Afghan-Soviet war. Pakistan is still suffering the aftermath. The policeman is too far away across the ocean to feel the direct pinch but the rookies are and will face hell. The actions to counter have taken away the once so bragged about civil liberties in the entire developed world. History is being repeated but, this time, it is in Europe.

As per an IMF report, if oil stays at around $ 50 a barrel, most countries in the region will run out of cash in five years or less. Low oil prices will wipe out an estimated $ 360 billion this year alone. Due to a huge budget surplus swinging to deficit, many of these countries are already forced to tap rainy day funds to weather the storm but are unable to curtail their spending due to the regional violence. “Violence increasingly affects civilians and has a particularly adverse effect on confidence and expectations, and consequently on economic activity,” the IMF warned. What are we doing about it?

The lifting of sanctions on Iran is expected to happen soon. Iranian oil will be available in the open market and this is expected to further depress oil prices. So, the financial devastation expected to engulf the Kingdom and the princely states will come much earlier than expected. Once this happens, hundreds of thousands of people in the labour force from Pakistan working in these Arab countries will be returning home to find no jobs that can meet their lifestyle and the kind of sustenance they have become used to.

The next 10 years will see the population of Pakistan nearly double. The gratification received from the Arab Ssates will soon stop. The foreign exchange coming into the country will stop due to return of the workforce and the job situation will go from bad to worse. There will be no infrastructure to cater to such a large population. This is a very alarming situation and needs to be addressed at this stage besides us being obsessed with just building motorways and metros.

The China-Pakistan Economic Corridor (CPEC) is being advocated as a blessing but for whom? How will it benefit the masses and how will its benefits trickle down to the masses for all the five provinces at the grassroots level? Regional trade is the need of the hour but what kind of relationship is Pakistan enjoying with the rest of its neighbours besides China? Boundaries need to be protected but it is equally important to consider what goes on within the country and its people. It is necessary to seriously ponder the paradigm shifts due to policies of the developed countries impacting the Islamic Republic of Pakistan. It is about time for us to decide who is our friend and who is a foe.

It is therefore the need of the hour for the political leadership to work towards a common goal that should be the stability of the country. The political leadership should act in unity to arrest the situation. The country should be inclined towards Asia as this is where all the energy and natural resources are available. There should be sustainable and stable long-term policies and removal of all the ambiguities in the 18th Amendment to the Constitution causing differences and unrest between the provinces and the centre. Timely Council of Common Interest (CCI) meetings should be held to redress the grievances of the smaller provinces. Parliament is supreme where long-term plans can be devised for future strategies but this can only happen and be effective if the Prime Minister (PM) and the federal ministers religiously attend the National Assembly (NA) sessions regularly. The opposition and the treasury benches should unite and the treasury benches should put their heads and hearts together to counter the storm already forecasted.

So, my countrymen, the cyclone is already forecasted and it is a matter of time to see if the politicians in parliament will wait for the storm to engulf and cause havoc or take preemptive measures to avert any untoward eventuality detrimental to the very interest of our country. Only time will tell.

The writer is a freelance columnist

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