In difficult times no one can succeed alone, its time to be a nation: COAS
RAWALPINDI: Chief of Army Staff (COAS) General Qamar Javed Bajwa has said, “In difficult times no individual alone can succeed unless nation comes together. ‘It’s time to be a nation’.”
COAS was addressing a National seminar on “Pakistan’s Economy: Challenges and Way forward” organized by Institute of Strategic Studies, Research and Analysis (ISSRA) at National Defence University (NDU).
Seminar on National Economy at NDU. Participants dilated on identifying challenges & ways to overcome the same. “Such types of interactions are important to enable both government and other stakeholders in exchanging their views on issues of national importance”, COAS.(1of2) pic.twitter.com/zkcm8ypuaF
— Maj Gen Asif Ghafoor (@OfficialDGISPR) June 28, 2019
COAS said there is an undeniable linkage between security and economy as they both directly complement each other.
He said that there cannot be any sovereignty in the absence of economic progress and reiterated that countries cannot develop individually, it’s region which develops.
The top Army official said that such types of interactions are important to enable both government and other stakeholders in exchanging their views on issues of national importance.
On current economic situation COAS said, “We are going through difficult economic situation due to fiscal mismanagement. We have been shying of taking difficult decisions. Armed Forces played their part by voluntarily foregoing annual increase in defence budget and this is not the only step we are taking for improvement of economy.
“We understand that government has gone for difficult but quintessential decisions for long term benefits and what we are doing is playing our part. We all need to fulfill our responsibilities in this regard so that these difficult initiatives succeed.
“There are examples in recent past when other countries also confronted similar challenges and they came out successfully after taking difficult decisions. We shall also IA wade through these challenges”.
He endorsed undeniable linkage between security and economy as both directly complement each other.
COAS said that he highlighted Pakistan’s efforts for restoring regional peace that will lead to better trade connectivity. “For our region to develop we need to have greater regional connectivity amongst all neighbors,” he added.
It is to be mentioned here that the panel of speakers included Dr. Salman Shah, Advisor to the Chief Minister of Punjab on Economic Affairs and Planning, Dr. Farrukh Iqbal, Dean and Director IBA.
The seminar was chaired and moderated by Dr. Abid Qaiyum Suleri, Executive Director, Sustainable Development Policy Institute (SDPI), Mr. Almas Haider, President Lahore Chamber of Commerce and Industry, Mr. Syed Muhammad Shabbar Zaidi, Chairman, FBR. Dr. Ashfaque Hasan Khan, Principal and Dean, School of Social Sciences & Humanities (NUST).
A large number economy experts, think tanks and representatives of business community attended the seminar.
The seminar dilated on ways of overcoming budget deficit, low tax collection base, circular debt, loss ridden public sector enterprises, fiscal indiscipline, undocumented economy, weak institutional capacity, low exports, meeting federal obligations within existing NFC arrangements and the perceptions surrounding the prevailing economic environment.
Advisor to Prime Minister on Finance, Dr. Abdul Hafeez Shaikh in his key note address dilated upon reasons which resulted into increasing these challenges. He counted perpetual security threats, inconsistent economic policies, poor economic discipline and lack of will to take difficult decisions in the past as major contributors to the economic situation the government is facing today.