Economic Challenge and the Revolutionary Way Out

Be it an individual or society, economic stability and development is as essential for both, rather indispensable, as moral, ideological, political, and military force. This is not only a demand of reason and a lesson of history; it is also a necessary part of the comprehensive and balanced system of life that Islam envisages, and of its concept of success. This is what the ultimate guide, the Holy Prophet, has taught this Ummah in the form of a prayer:

"O Allah, make easy for me my Faith which is the foundation of all my matters, make easy for me my life in this world in which lies my growth, and make easy for me my Akhirah where I have to return to"

And

"Our Lord, give us what is good in this world and also what is good in the Hereafter and save us from the torment of the Fire"

(al-Baqarah  2:201)

Telling us that poverty and pauperism lead to unfaithfulness, the Prophet also cautioned about the relation between adversity and infidelity. He taught to pray: O Our Lord, we seek your protection from infidelity and indigence.

The Economic Crisis:

The economic crisis facing Pakistan today has made life miserable for a large part of population and after the spells of indigence and starvation, deprivation and unemployment, the situation has worsened to such an extent that people are committing self-immolation and suicides. Even, the country's independence, security, and its basic interests are at stake. The nation is snared in the debt trap. International financial institutions and foreign lenders are putting forward additional new demands with each passing day to tighten their grip on the economy and finance of the country, on the one hand, and, on the other, to encircle Pakistan for its nuclear capability, withdrawal from its principled stand on Kashmir, playing colonial game, though under constraint, in Afghanistan, to pressurize it for accepting India's regional leadership role, destruction of its industrial capabilities in the name of globalization and open up its markets to the global colonialism. Intellectual servitude and economic weakness are the real cause of our vulnerability. Carrot and stick policy in respect of foreign loans is being used with dexterity and ruthlessness to coerce Pakistan into submitting to this foreign agenda.

This policy is in vogue since long, but nuclear tests in 1998 and Indian military action's having become ineffective in Kashmir and then the problem of huge loans, internal and especially external, all have exposed the nation to a very dangerous situation. Added to these is that a military regime is ruling the country at the time, which lacks any such forum of debate and discussion that can represent national aspirations and sentiments, where accountability can be made effective and where wrong steps of the rulers are taken account of. Foreign powers talk about democracy just for etiquette's sake, but in order to reign in other countries and to inflict irreparable loss on them they like only such a system where they could have their sway through an individual and achieve their objectives by surrounding him and narrowing the circle around him.

No doubt that the actual practice during the so-called democratic periods too was the politics of a single person. As for the military regime, it is but the name of concentration of power in one hand. Further, the way and extent of influence on the present government of technocrats from foreign institutions and activists of NGOs with foreign links has destroyed all safeguards. It is clearly seen that if the collective conscience of the nation did not move to monitor the acts of rulers, if the people did not unite for their independence, ideological identity, as well as economic and political sovereignty, and if the pattern of perplexity, continued retreat and surrender to foreign demands persisted then it would be more and more difficult for the country and the nation to avoid the disgrace of losing independence and security.

Today the nation finds itself at a critical and decisive juncture where the situation is that while there is debt-slavery, deprivation from the right to make political decisions, and eventually the mire of humiliation and subjugation on the one hand, there is also the path of resolve, courage, struggle and sacrifice, on the other. Though thorny and difficult, this path presents the only way out and means that can guarantee the protection of faith, independence, and dignity. This path is of untiring struggle, which in the field of economy demands such a revolutionary strategy that is radically distinct from stereotype and hackneyed practices and that one by which the nation can regain its independence and self-reliance. We can be masters of our destiny and can make decisions concerning ourselves, and Pakistan can take the straight path to attain its objective and mission for which millions of people had struggled and achieved this independent Islamic country by offering great sacrifices and by overcoming the intrigue and collusion of the British and the Hindus. Such a dauntless, revolutionary and prudent action that can guarantee independence, ideological identity, and dignified existence is once again the need of the hour. For this, the nation is to be taken into confidence, its Islamic fervor is to be motivated, its people are to be prepared for sacrifices of all sorts at all levels, and the forces of evil are to be confronted rather than compromised with.

Government's Plan for Economic Revival:

We never entertained a hope even for a moment about the military government's ability in resolving the complex economic and other collective problems. It was punishment of wrongdoings and malpractices of the ruling political leadership during the past 15 years that the nation had to swallow the pill of military coup on 12 Oct. 1999. Well-wishers of the nation had said right at that time that military government is not a solution to our problems and that General Pervez Musharraf should transfer power to the real representatives of the people after expedient and necessary electoral reforms and prompt accountability of the plunderers of the country. Under the pressure of circumstances, superior judiciary gave a deadline to the military rulers to accomplish this task, but instead of delivering on their real responsibility the military leadership arrogated to itself such assignments for which it neither had the capability nor can the nation have confidence in them in these matters. Defense of the country is their foremost responsibility, but they are being entangled in such a snare that their ability and capability for the very defense of the country are harmed.

The agenda that General Musharraf unfolded on 17 Oct. 1999 and then on 15 Dec. 1999 for the economy and the individuals he selected for his team at the center and the provinces badly disappointed the nation and its saner elements. Yet the nation gave him a chance, but the outcome of these 16 months and the dangers now engulfing the country are simply alarming. All the claims of the government and its functionaries have proved mere hollow slogans. In actuality, old approach is being adhered, it is the same debt-politics and submission to the international bodies on which economic system is being run. There are neither any signs of stern and transparent accountability, nor any indication of economic revival and self-reliance.

The first point in the agenda of economic revival announced on 15 Dec. 1999, and then in the strategy for poverty alleviation, was that the problem of lack of trust rampant in the trading sector, which is caused by continuously changing policies and actions like freezing of foreign currency accounts, would be overcome and trust in financial policies would be restored. The second point was that the pattern of scaring foreign investors and dragging them into litigation would be brought to an end and the country would be restored its standing of a right and secure place for investment. The third main target was that pulling the country out of the debt mire and putting it on the path of self-reliance would be of foremost importance. The fourth objective was that the betterment of common man and the influence of financial decisions on his living would be kept in view. The fifth point was that the process of privatization would be expedited.

Development of agriculture as well as small and medium size industry and making industrial finance system effective and transparent was also the target. In addition, the following were also targeted: 1) formation of a corporation for sick industrial units and reform of tax system in order to heck corruption and to put an end to the misuse of Standard Procedural Orders (SPOs); 2) implementation of sales tax and making it convenient; 3) timely return of rebate and establishment of a system for prompt disposal of financial litigation; 4) development of gas and petroleum sectors and procuring investment for them; 5) immediate and country-wide development of Information Technology and documentation of economy in the whole of country; 6) country-wide program for poverty alleviation for which both national and foreign resources would be utilized and in the very first year many a thousand project would be launched with Rs 30 billion; and 7) bringing down revenue and trade deficits and Gross Domestic Product (GDP) would be raised to the level of 4.8 percent.

Furthermore, it was also guaranteed that the country's internal financing and economy would be made riba-free by June 30, 2001 as per the decision of the Shariat Bench of Supreme Court.

Current Economic Situation:

This economic package was proclaimed "Pakistan-made" and it was assured that it would be implemented quickly under the monitoring system of the army. But viewing the performance of the last one and quarter year, we are compelled to say that avowals and claims of this government are no different from the ones of the past governments. Trust in financial policies has further weakened and still facing continuous decline. Foreign investment has not only declined but the capital is rather flying out of the country quite rapidly, in actuality the situation is of 'reverse flow'. The import-export imbalance has reached the level of $1.7 billion from the previous of $800 million; and if the amount of $2.5-3 billion that is to be repaid on loans and as interest is added then the foreign exchange deficit is reaching the level of $6 billion. Unemployment has increased and half of those joining the labor force every year is unemployed. Despite all measures adopted by the government, revenues are less than the required target by Rs 14 billion that means that budgetary deficit is not decreasing although development budget has been considerably slashed.

Prices of commodities are increasing continuously. The prices of electricity, oil and petroleum have been increased four times during this period, which has nothing to do with prices in world market. The currency is devalued constantly, it has been devalued by 20 percent during this period and there is still likelihood of further devaluation. There is slump in business and employment opportunities are decreasing. Positive activity is nowhere to be seen except in the area of Information Technology. Agricultural produce has been better due the Nature's benevolence and bumper crops of wheat and cotton, but a reduced sugarcane produce has affected the supply of sugar. Therefore, the expected growth rate has been reduced from 4.8 to 4.5. Similarly, exports have not shown the expected growth and industrial production, especially that of big industries, has been nominal.

The most alarming aspect is of increasing poverty that has doubled during the last 10 years. The proportion of the people in the grip of poverty has shot up from 17 percent to 36 percent, and according to an estimate to 40 percent, of the population. There is a trend of increase in prices of essential commodities. The rate of inflation that was declared to be 3.5 percent last year is feared to reach 6-7 percent this year the main reason for which is hike in prices of commodities due to repeated increase in the rates of furnace oil, gas, petroleum and electricity and resultant increase in the cost of production. Education and health budget has been reduced to half of the expected target. The process of privatization is suspended and hanging in balance, there is slump in the stock exchange, non-performing bank accounts are on the rise and the amount of default has only increased despite the recovery of bad-debts amounting to a few billions while all nationalized banks are running in loss and are closing down their branches and reducing the numbers of their employees quite substantially. It is clearly evident from the State Bank Annual Report 1999-2000 on the economic situation as well as the quarterly reports it has presented to the government that the performance of the present government is as disappointing as that of the past governments.

Imminent Economic Challenges; Economic Depression:

State Bank of Pakistan and its governor Dr. Ishrat Hussain, in spite of being a pillar of the establishment, has adopted the course of divulging economic facts to a certain extent and debate and discussion on the national level. This is laudable. The Finance Minister and the Governor have been denying the existence of foreign pressure for quite some time, but now they both have openly admitted that the country has to implement the agenda of the World Bank and the International Monetary Fund (IMF). No doubt that the present government cannot be held responsible for all the economic mess in the country and that it inherited quite bad conditions in October 1999, but this is also a fact that this government and its economic team has failed to chalk out a new strategy and putting the country on the path of self-reliance just like the past leaderships and in spite of its all high-sounding claims and avowals. If its thinking and intentions are examined, no sign of a fresh-start comes in sight. The Governor of the State Bank has admitted in his speech of 19 Jan. 2001 (its text has been published in Jang, London, issues of 6-8 Feb. 2001) that: Rising poverty and unemployment, burden of external and internal loans, increase in financial deficit, and decrease in investment...these are the major economic challenges the country is facing.

He has acknowledged that and tried to answer the question as to why the situation did not improve during the last 15 months as was being expected.

Analyzing the decaying conditions during the last 10 years, he has rightly identified the main and foremost problem:

We are now to decide that whose expectations we are talking about. In foreign countries, and particularly in international institutions, Pakistan's standing is not recognized. Within the country also, people's confidence has not been rehabilitated. The present government shall have to make a policy decision that it has to arrange for its financial resources itself without seeking aid from international financial institutions... In short, the most difficult problem facing the country is of foreign liquidity i.e. the ability to absolve from current dues.

Having been greatly annoyed at accusations on the present team of its being under the spell of World Bank and IMF (rather, being their 'agent') and having rightly leveled the allegation that past governments were indulged in the 'same crime', a great scare has been created about the dangerous implications of default: that foreign countries would capture PIA planes and problems of the population would increase over-all. This has been declared to be a justification for accepting all conditionalities of foreign financial institutions besides acknowledging that: we were compelled to compensate for all the wrongs committed by us in the past, and that is why we have to concede to all such conditionalities of these institutions that are about policies and economic structures.

Governor State Bank has defended the policies of the present government, has confessed that required results have not come out, and has enumerated some reasons for this. We value his choice that, unlike others, he did not adopt the approach of avoiding bitter facts, but has tried to face them and explain to an extent reasons for the sorry state of affairs. Though a lot can be said about contradictions between his statements, State Bank reports, and the statements of the Chief Executive and the Finance Minister, as also a long list can be made of such directives and declarations on which either no action has been taken or has been taken only in the opposite direction, but avoiding such discussion we wish to focus on major issues so that the cause of rot could be cured.

Economic Policy Detrimental to the Country:

The main reason of Pakistan's economic woes and crises, one after another and more acute than the previous, is that our economic policies and priorities have not been set keeping in view the ideology of the country and the real need of its people. The object has been protection of special interests and realizing, deliberately or otherwise, the global order and agenda of the West. Ever since the Harvard group and foreign aid agencies have attained say in our economic planning, our economic strategy has changed its direction.

We are not against economic liberty and market economy system, but the way Western capitalism has got hold of us and the way global colonial institutions, corporations and foreign governments are tightening the noose around us in the name of liberalization and globalization, cannot be ignored and overlooked. The real economic challenge cannot be fully comprehended without understanding this. Whether today's economic policy-makers or yesterday's managers, all considered foreign aid-based economic development as the actual object and accepted that gnawed and destructive assumption of economic development whose real objective was to entrap Third World countries in the snare of global capitalism, rather than providing economic prosperity and strength.

It is the result of this wrong strategy that despite being resourceful in manpower as well as material assets, 40-50 million people in Pakistan are subjected to poverty (this figure has doubled during the last 11 years). Agriculture is not properly attended to although 70 percent of the population is dependent on this and 9 of 11 industries that account for two-thirds of the country's exports are based on agricultural produce. Whatever industrial growth had been achieved by 1980 is being found hard to be maintained and the last 15 years are in actuality the years of decline of industry. The role of industry in the economy has reduced during this period. Likewise, small industries, which are the second biggest job-provider after agriculture, have the least importance in policy-making. Administrative expenditure is on the rise and development projects are designed only to procure foreign loans, irrespective of their usefulness and need for the country.

Rising Debt-Burden:

The total budget in 1980 was Rs 200 billion that has now inflated to Rs 600 billion but the ratio of development budget and social services is on a constant decrease. Payment of interest on loans, defense expenditure, and administrative expenses devour the whole budget and loans are sought even for non-development expenditures. The loan business is so much in vogue that one can only wonder at the way leaderships have been, and still are, pushing the country into the mire of problems. Irony is that procurement of every new loan is taken as an occasion for merriment.

The following facts and figures reveal the picture of external and internal loans:

Annual installment for repayment of loan and interest now exceeds Rs 265 billion, which is 54 percent of total budget income. $3.5 billion are to be paid in the form of annual foreign exchange, and an addition of $1.5 billion of trade deficit to this tells that $5 billion are required to match just the external deficit. If this amount is procured through loans on interest, the debt-burden would only increase every year. It should be clear that the external debt of $38 billion is a result of the policy of obtaining new loans on interest for the payment of previous loans and interest. The external debt is at $38 billion after our paying $30 billion more than what we obtained since 1977, and this would be at $42 billion next year!

If we examine growth of real assets as a result of projects against which loans were procured, then according to a careful estimate, this growth is not more than $5 billion. In other words, assets of just $5 billion were created against the burden of $70 billion. The rest went for salaries, commissions, embezzlement, or into the pockets of individuals and safes of institutions of the donor countries, whereas every Pakistani is crying under this huge burden of loans.

World Bank and IMF Strategy:

The development strategy of the World Bank and IMF is flawed and defective from its base. Its aim is not the economic development and prosperity of those countries that receive loans, its object is to safeguard donors' interests and making the receivers dependent of global market in the name of stability in sectors for which loan is arranged. This distorts development priorities and social welfare system. From the Governor State Bank and the Finance Minister to international experts all are saying that foreign liquidity is Pakistan's real problem. But the real problem is decrease in production and slump in economy. Exports cannot be increased by merely devaluing the currency. This needs increasing production, availability of material in abundance for exports in variety, quality, and correspondence with international market. We are chasing this shadow for 15 years, and our condition is like that of a person who tries to quench his thirst with sea-water but every mouthful of water only increases his thirst.

Budgetary deficit and balance of payments are all important, but the most important is rate of production, selection of right items for production and its standard. In addition, growth in productivity and consolidation of industrial base, provision of employment opportunities and judicious system of wages, effective system for distribution of wealth, human resource development, and provision of required skills - all have their respective importance. Today, former top officials of the World Bank, independent economic experts, and political leaderships of various countries are admitting that World Bank conditionalities have destroyed the economies of the Third World countries and have given to common people nothing but economic decline and decay. The people of Africa and South America are out for open rebellion and massive demonstrations at Seattle, Washington, Prague, and Davos are expressions of their anger.

Root-Cause of Economic Problems:

The biggest failure of the present government is that it has failed to comprehend the root-cause of the economic problem. Ours is not a problem IMF conditionalities are concerned with. Our problem is slump of economy, decline in investment, stagnation in production, and poverty and unemployment. Globalization is not our problem, but a cause to problems. The present government too has done nothing worthwhile for restoring financial confidence and for activating production process. Elimination of corruption is essential, yet the way an environment of fear and distrust has been created cannot but result in slump. Tax culture is quite important, but to expect increase in tax income after inflicting slump on trade through fear and harassment is nothing but foolish thinking. Documentation of economy is useful, but this does not mean confrontation with whole of the trading community. While an important aspect of tax culture is that every wealthy person should pay taxes, equally necessary is that taxes should be judicious, government should use the tax income in a transparent manner to meet the needs of the people, and taxpayers enjoy legal protection and social status. In America, Britain and other Western countries, taxpayers' rights are determined and protected In correspondence with demands for payment of taxes. By trying to change the tax system through the use of force, the government has injured the confidence as well as disturbed and poisoned the trade atmosphere. How can investment increase in such circumstances? Rather, these circumstances can cause flight of capital, and this is exactly what is happening. Economy has got frozen and no signs of life and heat are in sight.

Solution of Economic Problems:

The question is how the economic challenge facing Pakistan can be met.

Admission of Wrong Economic Strategy:

The first thing to do is to admit pursuing a wrong economic strategy and to get rid of it. This task is unlikely to be accomplished by the present team. Its vision, its experience and capability, its interest are all linked with the strategy that has taken us to the abyss of destruction. Only a new leadership and a new team can perform this deed. This team should comprise such people who have deep contact with people, who are from them, who live among them and are aware of their problems, ordeals, aspirations and priorities, and are accountable to them. Imported professionals simply cannot do this. For this, the system of government too should be the one that adheres to democratic values and principles, the one where decisions, policies and laws are made through genuine and real consultation.

Correct Idea of Economic Development:

The second basic thing is a correct view and idea of economic development and stability. Copying the capitalist countries and following the beaten line cannot be a way to development. Only that development is credible that results in effective use of the country's resources, the country's attainment of self-reliance and poverty is reduced as its consequence, increase in production, provision of employment opportunities, standard of life and morality is exalted, and fruits of economic activities reach all in the country. An absolutely new vision and new priorities are needed to realize this, and the foremost of which is getting rid of foreign loans and elimination of interest-based economic system from the country.

Elimination of Prevailing Exploitative System:

The government should bring an end to this exploitative system through a comprehensive law. Only this way can lead to self-reliance. There shall certainly be problems of the transition period, the way to progress and stability passes through facing these problems dauntlessly. Elimination of riba (interest) as per the Supreme Court verdict could be a significant step, but the government has committed criminal negligence in this regard. This verdict had come in December 1999 but till today neither the report of the commission formed under the State Bank has come into light nor have the reports of the Task Forces of Finance and Law Ministries. To take the nation along, propagation and education of the new financial instruments, publication of texts of the alternative laws for debate and discussion, education and training of government and banking institutions' personnel...no step has been taken in any direction. Responsible people in the government institutions are now talking about procuring explanations and further time from the Court, but the question is that as to why these explanations were not sought during the past one-and-quarter year. Why to wait for the deadline? Why no progress has been made for the establishment of those important institutions the Court had advised for? We are rather doubtful whether there is any Shariat Bench in the Supreme Court? It appears quite clearly that this government is criminally busy in deceiving people and God. Change cannot come this way. But this is also a reality that the days of loan-based and interest-smeared economy are numbered. The more we tread on this path, the more shall we get stuck in the mire. No other way is practicable except that a clear line is drawn and the rotten system of the past is done away with and a fresh-start is made. Those who are fearful of default should know that not just default but they are moving towards total liquidation.

Loans' Writing-Off:

The dreadful picture that the Governor State Bank has drawn of the default on foreign loans is more imaginary than real. We are not in favor of default and consider an alternative strategy as quite workable, yet to paint default in such a frightful way is not correct, either. 13 countries of South America actually defaulted in 1980 but their default did not bring about catastrophe for these countries. In view of the danger of default, the World Bank and other financial institutions have given out new timeframe for the recovery of more than 130 loans during the last 20 years. Russia is continuously defaulting even today, yet world institutions are holding talks with it and are even taking the course of loans' writing-off. Only months ago, G-7 considered writing-off $38 billion of loans of the Soviet period and negotiations are on for the repayment of the remaining loans in 30 years. We ourselves have had the experience of default in 1972 and have virtually defaulted on many occasions for not being able to pay on time, but these were overshadowed by talks. A global campaign is raging throughout the world these days and G-7 in its Cologne, London, and Paris conferences has promised writing-off of loans of 61 countries to the tune of $100 billion.

How can the donor countries and institutions absolve themselves of their responsibility in extending bad-loans and in arranging loans to protect corrupt leaderships? We can benefit from the criteria under discussion for writing-off of loans with respect to the ability to repay loans, provided that we take a firm stance that:

We shall never seek loans in the future, in any name.

2. Shall not procure loans only to repay loans.

3. Shall dedicate a specific percentage of our exports (e.g. 10 percent) for debt-retirement, but only after a reprieve of reasonable duration.

4. The existing loan shall be frozen and a moratorium of 5 to 10 years is obtained for repayment. After this, payment with a specific ratio of exports could be started.

5. The criteria that are being adopted for other countries for loans' writing-off shall also be applied to us. There is nothing embarrassing in negotiations for loans' writing-off, when no embarrassment is felt in begging for loans then why feel strongly about it when talking about write-off? When Russia is doing this, as are other 50 countries, why should we hesitate? The wrong we committed by taking in loans, others committed by extending them. We should bargain on these issues unswervingly. This is possible only when the chapter of loans is closed and the strategy of living within our own means is strictly adhered to.

This all is possible only when we have strength, the nation is taken along, and are ready for all sorts of sacrifice. Pakistan is not a small country, it has got a strategic importance that no one can afford to ignore. Only 15 or 16 percent of our economy (imports + exports) is vulnerable to foreign pressure, the rest of the economy is self-sufficient. Even if foreign countries adopt the course of sanctions (which apparently is not possible), we can face the situation and can achieve the objective of self-reliance on the basis of cash payment on imports. Moreover, such a situation generates the quality of resilience and will to face the challenge, which is nothing less than a blessing in disguise, a windfall.

New Economic Strategy:

The revolutionary path we are calling to entails trust in God, taking people into confidence, and devising a new economic strategy with their cooperation and collaboration, and its implementation. This strategy would accord priority to the development of agriculture, small and medium-size industries would be encouraged. Construction industry that directly affects 40 other industries and occupations can be effective as a catalyst. Germany in 1930 and China in 1950 have done this and we too can adopt this path. Tax system needs to be devised anew. Privatization should not be done hastily and blindly, rather the aspects of security, public needs, judicious wages system, consumer rights, and stable employment environment are to be kept in view. A new industrial policy that is conformity with the conditions and needs of the country is to be formulated. Distribution of wealth and people's participation in the production process are important policy subjects. Even today, when only 4 percent is being spent on education, health, and social welfare, in the private sector more than Rs 70 billion are annually provided through Zakat and Sadaqat (charity) to the destitute in the society and for assistance in good deeds and actions. This can play a very significant role in elimination of poverty if done in an organized manner and with proper incentives.

A clear policy on the role of state in economy is also a need of the hour. Private sector is important and possesses center stage, yet an effective government sector along with it is also necessary. Apologetic attitude in this respect for just being impressed by the capitalist system or for the reason that liberalism is quite in vogue cannot be condoned. Further, government sector does not mean that it should be run by bureaucrats or politicians. Ownership and management are not the same thing. In many a matter it is in the interest of the country and the people to give ownership powers to the state. Yet, these institutions too should be run with business dexterity and professionally and an effective system of accountability should be laid down clearly before the public. In the Western countries where privatization has been carried out with great zeal, an effectual system of accountability has been formulated keeping in view the aspects of supervision, performance, and service and any failure to meet the requisite standard entails punishments.

Then, a right labor and employment policy, education policy, health policy, and long-term planning for the provision of infrastructure is needed. These issues are all interconnected and shall be kept in view in a revolutionary strategy.

This is the job that awaits action, but this is beyond the capability of the present administration. This requires functioning of healthy democratic process, and handing over the reigns to courageous, God-fearing, high caliber leadership. The economic challenge facing Pakistan is real and complex, taking it by horns is both necessary and possible. This cannot be done through blind following of the West or presenting destructive policies of the past governments in new colors. It is possible only through new vision, sincere and honest leadership, capable manpower, and democratic system of governance, a real system of people's participation, transparent accountability, and strong institutions. Development of economy and its consolidation are necessary not only for economic prosperity, it is also essential for the country's ideology, independence, and security. The dangerous turn the country is at now demands that every step in the wrong direction is stopped and the nation is directed towards the right path.

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Translation and adaptation of the editorial of Tarjuman Ul Quran March 2001.