LAHORE: Former Prime Minister Shahid Khaqan Abbasi has emphasized that Pakistan’s economic growth is unattainable unless the country becomes a fully functional democracy.
Speaking at a session titled “Can Economic Progress and Democracy Coexist?” organized by the Pakistan Institute of Legislative Development and Transparency (Pildat), Abbasi explained that countries with autocratic regimes that had prospered were not comparable to Pakistan. These nations had long histories of social discipline and homogeneity, which Pakistan lacks.
Other speakers at the session included former caretaker federal minister for privatization Fawad Hasan Fawad, former federal minister for commerce Khurram Dastgir, and Interloop Ltd’s Chief Marketing Officer Faryal Sadiq.
Abbasi reflected on Pakistan’s political paradox, noting, “Our autocrats want to be democrats and our democrats want to be autocrats.” He highlighted that the success of past autocratic regimes in Pakistan was largely due to external aid, not sustainable economic growth. He pointed out that such aid-driven growth is no longer viable due to the changing geopolitical landscape, and now the country’s economy, not its security, will drive political developments.
Fawad, in his address, stressed that while dictatorships may have achieved economic growth, they failed to ensure human development. He advocated for transforming the state’s functioning to prioritize efficiency, transparency, and accountability. Fawad argued that while privatization and deregulation are necessary in business, essential sectors like health, education, and skills development should not follow the same approach, as they are critical to the nation’s well-being.
He also highlighted that Pakistan’s privatization efforts have often been mishandled due to a lack of transparency and accountability, pointing out mismanagement in state-owned enterprises like PIA and Pakistan Railways.
Khurram Dastgir shared his views on Pakistan’s current economic challenges, asserting that his party’s government had addressed significant economic hurdles, such as terrorism and energy shortages, when it was in power. He emphasized that the success of democratic governments depends on transparency, accountability, and active engagement with stakeholders.
Faryal Sadiq argued that the issue was not democracy itself but the lack of consistent policies and political instability, which hindered economic growth. She stressed that for the private sector to thrive, consistent policies and good governance are crucial, as stability and consensus-driven policies are essential for business success.
Pildat President Ahmed Bilal Mehboob, who opened the session, highlighted the lack of focus on economic issues in Pakistan’s political discourse, which is often dominated by abstract political debates.
