JULY - AUG 2020

TRADE CHRONICLE
We begin with the name of Allah the Magnificient
Nation celebrates Independence Day
Pakistani's celebrated Independence Day on August 14 with renewed
determination to work with the spirit of Pakistan Movement to make the
country a real Islamic welfare state for the prosperity of masses.
President Dr Arif Alvi and Prime Minister Imran Khan in their messages,
paid rich tributes to the father of the nation Quaid-i-Azam Muhammad Ali
Jinnah. The latter got Pakistan for Muslims after tireless efforts without
caring for stiff opposition in India.
In their messages, President Arif Alvi and Prime Minister Imran Khan
have sagely called upon the Pakistanis to stand firm and work for the
progress and the prosperity of the country. Yes, we need to stand united
to meet the social, economic and security challenges being confronted by
the nation.
From
the editor’s
desk
On this blissful occasion, experts expressed hope that the new
government, after two years in power, will now vigorously work on
bringing the much-needed reforms in all spheres of governance and fix
chronic maladies so that Pakistan can be transformed into a powerful
economic entity and a democratic state.
It is an undeniable fact that during the several decades, the elite and
vested interest class pushed the country into great turmoil. Despite
becoming a nuclear state, we are ensnared in a deadly debt trap, while the
overwhelming majority of the population lacks in even basic amenities of
life. Wealth and power are concentrated in a few hands, income
disparities are widening, and the main burden of taxes has been on the
less-privileged segments of society. The elite economy supports the rich
and mighty—with every passing day and the rich-poor divide is assuming
alarming dimensions.
However, the nation has always been united under challenging times as
tested in the past. The leading English Dawn in its editorial has rightly
pointed out that on this Independence Day, the country has every reason
to derive a degree of satisfaction from the knowledge that its fight
against the Coronavirus has been a success so far.
ABDUL RAB SIDDIQI
What contributed significantly to the effort was that the government and
opposition, though had bitter foes, understood at some point that
developing a national narrative to counter the infection was crucial to
the fight against the virus which has devastated the global societies and
economies. This example goes to show that a spirit of cooperation and
unity can be invoked and much help both sides to overcome a variety of
challenges that have only grown since the time of independence.
Pakistan is facing significant challenges after COVID 19. Leading
business houses reported losses and reduce salary and laid-off workers.
But, the timely incentive from government and central bank narrowed
the impact, and hopefully, the economic uncertainty would end soon.
TRADE CHRONICLE - July .~Aug . 2020 - Page # 06