Despite the nation’s many hopes and expectation, the country’s political leadership has yet not been able to agree on a charter of economy or a common minimum agenda for the newly elected government to pursue for the next five years.

However, ongoing developments indicate that the country’s multiple crises are likely to be addressed on an issue-to-issue basis either through the parliamentary process, institutional initiatives, or administrative measures as required. A new International Monetary Fund deal may provide breathing space.

While the mainstream political parties are known for making promises they are unable to fulfil, they now face overwhelming compulsions to walk the talk.

Multiple crises have brought the country ever closer to a dead end — the faltering status quo is under political siege, failure to deliver on promises means a huge loss of political capital and the fate of parties which preferred to survive on the support of the establishment rather than the masses are well known.

The government needs to create a healthy industrial culture to maximise indigenous resources in the production of engineering goods

The Corps Commander Conference meeting held on March 5 “expressed its strong belief that democratic consolidation is the way forward for the country”. The coalition government led by Prime Minister Shabaz Sharif will face stiff opposition from Pakistan Tehreek-i-Insaf loyalists in the parliament.

Against this backdrop, the solutions for pressing political, economic and social problems may emerge with the people actively struggling for a positive change through an evolutionary process.

To illustrate, the strategic effort of the industrial lobby to promote Make in Pakistan (MIP) products has been recently reinforced by a relevant regulator and a public sector organisation. The MIP plan will receive further impetus from repeated pledges of top PML-N leadership to make the country stand on its feet.

In a major policy shift, the the Pakistan Engineering Council (PEC) will assume the role of facilitator instead of regulator under a 15-year MIP plan. PEC will act as a statutory body for structuring the MIP policy framework, implementation, and periodic review.

Recognising the urgent need to address the challenges in fostering self-reliance, the regulator will share with stakeholders on a daily basis all relevant information regarding statutory regulatory orders (SRO), industrial zones, new technologies and latest business trends, etc. The main MIP focus would be 27 listed sectors. MIP will also provide an impetus to balanced development and regional equity, says PEC.

Participatory democracy at the grassroots can strengthen representative governance

Under the PEC Amendment Act 2011, the regulator has the mandate to function as a key driving force for achieving rapid and sustainable growth in the national, economic, and social fabric.

Similarly, under two technology transfer agreements signed with China and Pakistan Railways (PR) has, for the first time, started local manufacturing of 184 state-of-the-art high-speed passenger coaches and also launched manufacturing of 620 high-capacity flat goods wagons, according to PR Chief Executive Officer Amir Ali Baloch.

In his maiden speech after being elected Prime Minister, Shahbaz Sharif observed: “If we decide to do a deep surgery and bring changes in the system, basic reform … we can either get rid of a life of debt, or we move forward with heads down in shame. No, this will not happen. We will rise, and we will make Pakistan self-sufficient.”

According to the PEC, the government needs to create a healthy industrial culture to maximise indigenous resources in the production of engineering goods to cater to domestic consumers, meet industry demand and reduce excessive imports.

After Shehbaz Sharif was elected as the prime minister, PML-N leader Khawaja Asif endorsed PPP Chairman Bilawal Bhutto-Zardari’s demand to devolve 10 out of 12 federal ministries to provinces. “Federal ministries for education and health should be shifted to provinces. Empowering district governments would reduce the burden on the assembly members,” Mr Asif observed.

Without participatory democracy and grassroots empowerment, a representative form of government cannot be strengthened.

On March 1, the PML-N and Muttahida Qaumi Movement-Pakistan (MQM-P) signed an agreement to a constitutional amendment which will empower local governments as envisioned by MQM-P. Both parties agreed to work together to forge a national consensus within the parliament for the bills’ passage.

PEC’s MIP policy will encourage and support process and product innovation to promote innovation and make the country more competitive in the global market. The objective is to enhance exports of medium- to high-tech products and earn precious foreign exchange.

In strategic terms, however, the MIP policy needs to be reinforced by efforts to balance bilateral trade as much as possible, where we suffer huge trade deficits. We need to sell in order to buy. Unsustainable debt-driven imports, with their multiple adverse impacts, have ceased to be an option. And the issue of good governance will remain a daunting challenge.

Published in Dawn, The Business and Finance Weekly, March 11th, 2024