Resources Mobilization

Editorial Jul, 10 2024
Resources Mobilization
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Pakistan's air, land and sea are rich in natural resources, but due to the inability to utilize them, the country is suffering from poverty and backwardness and is heavily tied up in external debt.

There is  not only oil near our shores but there are vast reserves of gas, which can meet the country's needs for the next century, but it can be said that it is the lack of understanding of the ruling governments and the failure of the successive governments and policy makers who run them that even after the passage of almost 8 decades, the country is facing a serious economic crisis, inflation, unemployment and suffering from uncertainty.  The situation has reached such a point that the financial budget of the country has also become subject to the will of international organizations, especially the IMF, and to meet its requirements, the rulers are increasing taxes and imposing new taxes. The statement by strategic analysts that Pakistan can earn billions of dollars only thanks to the easy access to the country's ports through a modern system shows the way to seriously focus on the country's internal resources.

  In a meeting, the PM presented an agenda of reforms and directed to install modern scanners at the ports and reduce clearance time of goods at Karachi Port Trust and Port Qasim. He also said that the development of the private sector, ease of doing business and convenience for investors are the top priorities of the government.  The Prime Minister said that Pakistan provides the most suitable sea trade route for Central Asian countries and these countries have shown keen interest in using Pakistani ports.  A comprehensive plan for the regulation of shipping lines should be formulated. Lyari Expressway should be kept open 24 hours a day to ensure uninterrupted movement of goods to and from Karachi Port Trust, Malir Expressway should be connected to the port and by rail.  The efficiency of cargo delivery should be increased. The fees of LNG ships should be reduced and brought in line with the international level. Emphasizing on taking advantage of the location, he said that by the grace of Allah, the economy of the country is stable and moving towards development, we are providing all kinds of facilities to the exporters for the development of the export industry.  The agenda presented to increase trade is the essence of the discussions and suggestions made in the meetings with the heads of Central Asian countries in the recent Shanghai Conference. Central Asian countries can benefit themselves by using Pakistani ports for foreign trade and Pakistani trade.  In this regard, apart from Karachi and Bin Qasim, the port of Gwadar is also the center of their attention. It can earn valuable foreign exchange but also control the trade deficit.  The government is taking many measures to control the economic situation that the country is facing at the moment.  Among them, the proper use of ports is the most important. Sea trade is the priority of the world, Pakistan should also pay attention in this direction. Meanwhile, as we see that Pakistan has been suffering from energy crisis for more or less three decades, in which the people are facing severe suffering due to the intensification in recent years.

The storm of inflation that has come from acquiring more loans to remove the burden of foreign debt of rupees and meeting the strict conditions of the international financial institutions created in return, the common man of this country, which has the lowest per capita income, is bubbling.  Prime Minister Shehbaz Sharif's government has been working on a solid agenda since the first day to attract foreign investment and its efforts are proving to be fruitful.  In this regard, the meeting held on Sunday is very important. , in which energy-related projects were reviewed for an investment of 5 billion dollars. Short, medium and long-term projects were finalized in three weeks, including getting rid of revolving debts in the gas sector.  Under the leadership of Deputy Prime Minister Ishaq Dar, an 18-member committee was formed. 6 ministers, and as many federal secretaries including chairman FBR are part of it. The committee has been entrusted with 12 major goals, which include the implementation of the revised Petroleum Policy 2012 and Gas Policy 2024.  It is the most important initiative, for which it has complete infrastructure. Unfortunately, the country rich in natural resources has been lacking in success in oil and gas exploration. Efforts should be made to find energy within the country instead of importing it.  They should be discovered and made a part of the economic goals. Meanwhile, the speed and rate at which electricity prices are increasing in the country is estimated from a media report that from July 2024, the domestic tariff per unit including taxes has increased to Rs 69 27 paise.

For non-protected customers, the monthly tariff is Rs 37.38 for one to 100 units, Rs 45.15 for 101 to two hundred units, Rs 50.17 for 301 to 400 units, Rs 59.73 for 401 to 500 units, Rs 61.71 for 601 to 600 units 63.24 while above 700 per unit 69.27 rupees.  In contrast, more than 70 percent of the country's population is forced to live below the poverty line, whose per capita income of the upper class is on average 32 thousand rupees per month, which has been increased to 37 thousand rupees in the new budget for government employees.  While the wages of private sector employees have not increased for the past seven years. How a single breadwinner in a multi-person family will manage rent, education, health and utility bills after barely making bread is a question mark.  It should be noted that the increase in electricity prices started in 2021, in December of the same year, the price per unit was set at 15.75 rupees. After that, every second and third month, while during the current year, it increased up to two and three times in a month.  The turn has come and the fixed surcharge of Rs 1,000 on each household meter is in addition to this. The government should realize this whole situation, otherwise, if the underprivileged and underprivileged class is deprived of electricity, petrol and gas. If free facilities are withdrawn, the electricity tariff can be brought down to an acceptable level.

Our Correspondent
Our Correspondent https://www.dailynationalcourier.com/author/our-correspondent
Daily National Courier is a leading morning English newspaper of twelve pages covering all international and national political developments on 24/7 basis.

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