As a result of the America–Iran war, Pakistan has arrived at a decisive moment. At this time Pakistan has gained respect and prominence around the world diplomatically and defensively. Pakistan’s enemies — Israel, India and their Afghan and Baloch proxies — are trembling with fear of Pakistan’s strength and power and are trying to stain its prestige and grandeur. Pakistan has moved its pieces on the global chessboard with great beauty and wisdom. After giving an effective response to India’s attacks, the reputation of Pakistan’s strong defence has been established among both friends and enemies. President Trump does not search for and praise such a Field Marshal and Prime Minister without reason; behind this lies a successful defensive strategy and the hoisting of flags of victory against a big country like India. Saudi Arabia also carefully decided to sign a defence agreement with Pakistan after victory in this war, because Pakistan is the only country in the Muslim world capable of protecting the Two Holy Mosques. Pakistan did not allow any harm to come to its brotherly relations with Iran; this too is a rare example of highly successful diplomacy. Our friendship with China and our deep relationship with America — maintaining both equally — is something that will be remembered in history.
Our honour and prestige are one thing, and our Prime Minister’s hugs and kisses around the world are another, but the bitter reality is that our economic condition is standing on the brink of destruction. Worldwide visits and frequent agreements are not filling our stomachs. We are taking loans upon loans. The strict conditions of the IMF have become chains on the feet of our shrinking economy. More than half of our industries are lying closed. The prices of oil and electricity are touching the sky. Despite continuous efforts for three years, there is currently no sign of foreign investment coming into the country. Unemployment is increasing. The tax burden on salaried people has increased so much that their income has become equal to what it was ten years ago. The construction sector — which is the engine of more than twenty sectors — has been burdened with so many taxes that no investor remains interested in it. Industrialists are shifting their businesses to other countries, and Pakistani youth see their future in other countries. In short, the economy has torn every hem apart. In such circumstances the decisive moment has arrived for Prime Minister Shehbaz Sharif: through his best business training and experience he must arrange such a big injection for Pakistan’s economy that our stalled system not only starts moving but begins to run.
Prime Minister Shehbaz Sharif is the suitable and ideal person for this task. He received training in industry and management from his capable father, Mian Muhammad Sharif, and for years handled the business of the Ittefaq Group and Sharif Group himself. He knows very well the profit and loss of economics. After the Iran war, this is the last opportunity for Shehbaz Sharif to strengthen Pakistan’s economy according to its prestige and status. It is the last opportunity because the Waterloo of governments is always the economy. If the economy does not improve, Waterloo will come closer and closer; if the economic indicators start moving in the right direction, Waterloo will move farther away.
The defence agreement between Saudi Arabia and Pakistan is extremely important. What is happening behind the scenes is not known, but there was hope that this agreement would unlock Pakistan’s tied economy. Perhaps this hope will be fulfilled in the coming days. We have ideal relations with the United States, but apart from loans from the IMF and the World Bank, no new economic agreement for Pakistan or any new defence equipment, F-16 aircraft, or aid for economic improvement has appeared yet. It is true that we are safe and secure because of friendship with the United States, but we have not heard any good news like the billions of dollars of aid that Saudi Arabia gave to Egypt or the way America got all of Egypt’s debts forgiven. China is our closest country, but the projects running with Chinese cooperation are now moving at the speed of a tortoise rather than a rabbit. The dreams of networks of roads and economic revolution have not been fulfilled. The countless visits to the United Arab Emirates, Kuwait, Qatar and the Middle East — whether they produced any economic benefit or not — at least nothing has appeared so far. We have very deep outward relations with several Central Asian countries, but economic depth simply does not exist. If even an economic genius like Prime Minister Shehbaz Sharif cannot take advantage of this opportunity, then which politician will be able to do so?
It should be remembered that if the defence of the country is to remain strong, a strong economy is indispensable for it. The Soviet Union, despite having hundreds of nuclear weapons, collapsed because of economic destruction. To keep defence strong and to make the army modern and competitive with the world requires money. To maintain Pakistan’s strong defensive reputation, a healthy economy is extremely necessary. This is the time when Shehbaz Sharif must play a decisive and decision-making role.
The biggest reason why the PML-N again received the reins of power was that Imran Khan had taken the Pakistani economy to the brink of default, and the establishment believed that the PML-N has always made policies through which the country becomes economically stronger. This ideal perception brought the PML-N back to power so that it could place the economy back on track as in the past. The PML-N did stabilise the economy and also controlled the dollar rate, but neither did it stop taking loans nor did it take any major economic step that would lift the country from the ground and make it start moving. Our economy is continuously in an oxygen tent. It was expected that the three-member team of Nawaz Sharif, Shehbaz Sharif and Ishaq Dar would once again lift the economy, but so far this has not happened. There is still hope that this team can solve the problem. However, if after the America–Iran war Pakistan has gained a space in the Middle East and the world in terms of defence and diplomatic prestige, and even then the economy cannot be lifted, then the hopes that have long been attached to the PML-N may break.
Two years have passed for the Shehbaz government. If the PDM period is also included, then this duration exceeds three years. Has the decisive moment not arrived now that the economy should change? The public has become tired after giving sacrifices again and again. If they receive some relief, the government will be considered successful; otherwise it will be regarded as unsuccessful.