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Home Editor's Desk

From the editor’s desk

December 2, 2024
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Pakistan: From the brink of default to rapid recovery
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The past few weeks have been marked by significant developments both at home and abroad. On the international stage, the United States presidential election saw the return of former President Donald Trump to the White House. The Pakistan Muslim League-Nawaz (PML-N) extends its congratulations to the president-elect, expressing hope that this new term will provide an opportunity to strengthen US-Pakistan relations and further mutual interests.

Domestically, Pakistan’s economic recovery has reached an unprecedented milestone. The Pakistan Stock Exchange’s benchmark 100 index crossed the 99,000-point mark in November, signaling a remarkable turnaround in macroeconomic stability. This progress seemed unattainable just a few months ago when the country faced severe economic challenges, including a balance of payments crisis, dwindling foreign exchange reserves, and a looming risk of default. The PML-N government, sworn into office in March, has been relentless in its efforts to steer the nation towards prosperity.

Under the leadership of Prime Minister Shehbaz Sharif, the government’s focus on attracting foreign investment has yielded encouraging results. A series of high-profile visits by important capitals has underscored Pakistan’s growing regional importance. Most recently, Belarusian President Aleksandr Lukashenko visited Islamabad to bolster bilateral ties. Unfortunately, this landmark occasion was marred by political chaos, as protesters breached Islamabad’s red zone in an attempt to destabilise the government.

The timing of such unrest is particularly disheartening. At a moment when the government is finally in a position to rebuild the nation’s economy after years of mismanagement under the Pakistan Tehreek-e-Insaf (PTI) government, these actions threaten to derail progress. The PTI’s refusal to engage with political rivals has further deepened the country’s challenges. The party’s leadership has consistently shown disdain for dialogue, ignored calls for collaboration, and deepened polarisation that obstruct solutions to Pakistan’s problems. This hostile approach is unsustainable and detrimental to national stability, especially at a time when unity is paramount.

It is especially troubling to see PTI officials lobbying against Pakistan in foreign capitals and tarnishing the country’s image on the global stage. Ironically, the same party that once propagated baseless conspiracy theories about foreign interference in its ouster now appears to be soliciting external intervention for its incarcerated leader, who faces serious corruption charges.

The PTI’s disruptive tactics are not new. In 2014, the party held Islamabad hostage for over four months in an attempt to topple the democratically elected government of Mian Muhammad Nawaz Sharif. However, the PTI no longer enjoys the patronage it once relied upon to execute such manoeuvres. Its current strategy of misleading its young, impressionable supporters and destabilising the nation is not only futile but also dangerous.

The PML-N government is fully prepared to address any attempt to derail the country’s progress. At this critical juncture, when the foundations of a stronger, more prosperous Pakistan are being laid, it is imperative for all political stakeholders to act responsibly. The nation’s economic recovery and international reputation must not be sacrificed at the altar of personal and political agendas.

Sincerely,

Saira Bano

Editor-in-Chief

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Horizon started in August 2020 as a newsletter of the Research and Policy Planning Unit of Pakistan Muslim League-Nawaz (PML-N), Punjab, under the leadership of Punjab’s former Minister of Education Rana Mashhood Ahmad Khan. Today it has transformed into a full-fledged monthly magazine, bringing research and analyses on the most pressing issues facing Pakistan to its audience.

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