Pakistan's Charter Of Economy.

The political situation in Pakistan has rarely stabilised since its independence. The uncertain and fragile political scenario also adversely affects the economic stability of the country. Till the late 1980s, the economic and business stability of Pakistan had been quite unaffected, but its situation has never been the same since the 1990s, with various political regimes switching frequently, coming with policies which were inconsistent and unproductive. Resultantly, the common man suffers badly; his very survival becomes extremely difficult and the poverty rate in the country unabatedly gets worse. Along with the dramatic twists and turns of political turmoil, fellow citizens have also embraced natural disasters, including earthquakes, flash floods, torrential rains, droughts, heatwaves, and the most recent pandemic-Covid-19. In the last two decades, the worst law and order situation and terrorist attacks had given many shocks to the economy, which ends up in the ICU time and again, after a few years of brief growth and expansion, which is commonly known as a boom-and-bust cycle of economic growth.

These factors portray a grim situation for every aspect of the country, from the struggle of bread and butter of the common man to annual GDP growth rate. To make the situation worse, the future is highly uncertain with no clear roadmap for the next generation-poverty is rampant on a wide scale and living standards for the larger part of our population are declining. This is one side of the story, which is indeed a sad one. The other side of the story is optimistic, almost like music to one's ear. Pakistan is located at a very important geo-strategic location on the globe; it is a unique country with every season of the weather, it is rich in natural resources, and the potential for agriculture is huge. It stands among the top-ten countries in the world producing various edible crops, livestock, goods, etc. Also, its human capital of around 60 percent is young. However, despite having immense potential, we are not capable as a nation to reap the benefits of these blessings, unfortunately. Perhaps, our unpredictable political scenario casts its shadow over our country's progress and potential for growth.

The Charter of Economy has been a buzzword recently. The top leadership of various political parties endorsed the idea in the larger interest of the country, yet the concept is far from a clear vision and a practical approach. The Charter on...