On Monday, the Chairman of National Business Group Pakistan, President of Pakistan Businessmen and Intellectuals Forum, All Karachi Industrial Alliance, and former provincial minister Mian Zahid Hussain said Pakistan should try to develop trade relations with India. He said India should also learn that Pakistan’s economic problems will only last a while. It is very difficult to ensure rapid progress by being hostile to its neighbours.
Mian Zahid Hussain said that India has to solve the Kashmir issue according to the aspirations of the Kashmiri people.
Talking to the business community, the veteran business leader said that the world’s fifth-largest economic power could not continue to be at war with its neighbouring country, which is a nuclear power. India started improving its economy in the early 90s thanks to political stability. In contrast, he added that we are still suffering from political and economic instability, and our economy is at the mercy of the IMF.
The business leader said that India has a clear possibility of becoming the third largest economic power in the world in the next one or two decades, while Pakistan is also located in the same region and can also develop through better governance.
Mian Zahid Hussain said there is a need for cheap agricultural imports from India, technology acquisition, and economic relations restoration, which is in the people’s interest.
He said we rightly consider India our enemy while India considers the problem. India wants to harm Pakistan at any cost, and its focus is also on China.
India should know that Pakistan cannot be insulated from insecurity in Afghanistan. Similarly, India will not be safe from insecurity in Pakistan, so it should avoid terrorism in Pakistan.
Mian Zahid Hussain further said that most of the governments in Pakistan broke their promises to the IMF, due to which the attitude of this organization has become tough. Despite fulfilling all its conditions, the staff-level agreement had yet to be reached.
In this situation, Pakistan should continue reforms in the energy sector, privatisation of failed government institutions, agricultural reforms, import substitution, and become self-reliant as soon as possible.
Earlier, borrowing countries used to get loans from the IMF within two months, but now it takes Sri Lanka 200 days and Zambia 271 days to get a loan. China has given some help to Pakistan, but more is needed. To eliminate these problems permanently, Pakistan has to put its affairs in order.