Amid critical economic condition of the national economy, Pakistanis on Monday got a few good news. The Islamic Development Bank (IDB) and the World Bank announced $6.2 billion for Pakistan. Both the Banks made the announcement at the International Conference in Geneva. The moot was co-hosted by Prime Minister (PM) Shahbaz Sharif and United Nations Secretary-General (UNSG), Antonio Guterres. During the conference the USA, France and other friend countries also announced financial aid for Pakistan.
On the other hand, on the same day, US-based financial news service, Bloomberg dismissed reports speculating that Pakistan is heading towards default. In a report issued by Bloomberg Economics, Ankur Shukla, who covers South Asia, said that Pakistan is likely to avoid default in the next six months.
The third good news for the nation is that two ships carrying more than 300,000 tons of Russian wheat arrived in Karachi on Monday, providing much-needed relief to Pakistan which is experiencing a flour crisis and soaring prices for the essential commodity.
Undoubtedly, the above-mentioned news and announcements are a ray of hope for the cash-strapped Pakistan and for the public badly affected by the inflated prices of flour. The financial aid’s announcements will definitely help Pakistan to avoid the default risk and will also make it able to provide some relief to the masses amid high inflation. But the bitter truth is that no country can survive for long over foreign aid, and even if it survives it cannot get the target of national progress and a respectable status in the international community. To achieve these targets, a country needs to be economically independent.
So, we as a nation should learn from current economic crisis, be very serious about our economy and adopt such a policies which lead us to a strong national economy and we become a giving nation instead of taker.
