Countries with better policies while prioritizing betterment for the vast interest of their entire nation, do progress. On the contrary, countries with poor policies irrespective of general interest of their nation lag behind in the race of the most advanced world.
Behind the development of a state, there are multifarious reasons such as long-term economic policies, political stability, social integration, high morals, innovation and technology, standard and quality education, and the list is inexhaustible. However, developing and least developed countries lack any or many of these factors which constrain them to be underdeveloped or undeveloped.
Additionally, long-term economic policies pave the way for economic stability and self-dependency of the country leading to a better future and provision of infrastructure, high-standard facilities, opportunities for profitable businesses, quality of life, and much more. The long-term economic policies with zero corruption, enable a country to spend its budget on the furtherance of the economic, cultural and social well-being of its peoples.
But, political stability begets long-term policies, where meritocracy prevails while deserving persons are seated to decide the destination of the country. Conversely, political instability catalyzes inconsistent and short-term policies that cannot bear desired fruit ultimately decimating the resources of the state leading to unemployment, inflation, poverty, low standard of education, low standard of living and so on.
Singapore is one of the countries which tailored long-term policies that rendered prosperity in return. Singapore, having no natural resources, utilized its important geographical location under the supervision of Lee Kuan Yew, the first Prime Minister of Singapore from 1959 to 1990, to be one of the most developed, safest and least corrupt countries in the world, which was initially poverty-stricken and corrupt. With its focus on innovation, high-tech and excellence along with long-term policies and consistency, Singapore is getting its fruit.
The significance of inclusive and long-term policies can better be understood from the case of South Korea and North Korea. South Korea and North Korea appeared on the map of the world on the same day but the priorities and policies they engineered resulted in different outcomes. The economists of South Korea were graduates from Princeton University who designed their economic policies inclusively, encouraged business and strengthened economic stability which, in consequence, provided a standard and quality life, better education, innovation, and digitalization meeting almost every modern challenge the world confronts. Additionally, the GDP per Capita of South Korea is $34,165 (nominal; 2024 ranked 31st); the life expectancy is 83.53 years (2021). On the contrary, North Korean economists were local graduates who did not emphasize long-term and inclusive policies, which even in a decade after the independence remained far from South Korea. Currently, as per the latest available data, the GDP per Capita of North Korea is $900 (Nominal, 2023, 178th); North Korea has a life expectancy of 72 years as of 2020. The difference between twins is created by the policies both adopted.
Apart, developed and some major developing countries’ core area remains the quality education based on updated, need-oriented learning rather than outdated teaching methods.
Another key focus for the development of the states is advancement in technology. The updated technology is utilized in various sectors such as health, manufacturing, finance, and high-tech, even in every aspect of life that has made life easier and faster, also exporting them earns for the country that even further adds to the national budget to facilitate its peoples.
Finland is one of the examples of countries that focus on an education-driven economy. Finland’s education system tops in the world fostering a robust economy led by innovation and technology. Other sectors such as healthcare are well-equipped and up-to-date. Finnish companies are global market leaders in renewable technologies. Over 40% of their energy is renewable. In smart digital solutions, Finland is among the leading in the way of cybersecurity, quantum computing, smart mobility, AI, and sustainable manufacturing. A robust economy and social well-being of its nation is the consequence of its determined, committed and consistent hard work and inclusive policies.
In the case of Pakistan, the rationale behind the backwardness is, indubitably, the lack of long-term economic policies, political stability, a standard of education, a dearth of innovation, and proper and better social infrastructure.
Economically, Pakistan could not manage to devise constructive and long-term policies that may contribute positively to its development due to the musical chair game in the politics of Pakistan. A politician comes to power and criticizes policies of others, and designs its short-term policies that render short-term benefits, evading the previous government’s policies. The trade surplus is one of the consequences of incompetent policies because the governments cannot provide a better grounds for manufacturing quality goods that may compete in the global market or if some local brands are capable of competing there but they lack in global marketing to find some gap in there to compete due to those policies, resulting in current account deficit. Apart, the government creates practical and luring incentives neither for local companies to manufacture quality goods to mitigate import burden, nor for international companies to invest in Pakistan and create quality goods and jobs to benefit Pakistan in either way along with alleviating the current account deficit.
On the one hand, Pakistan’s debt has trapped it badly and compelled it to borrow from the IMF to meet its demands and even repayment of loans, on the other hand, ruling elites have enhanced their wealth and assets not only restricted in Pakistan but also abroad, that exposes how adversely they devise policies for nation preferring their personal interest over national interest. Again it is the sequel of short-term policies that enrich them, while impoverishing the country to be dependent on foreign aid and debts, which in the long race disable Pakistan from competing globally and earning reputation and say in the globe.
Also, poor policies affect adversely to other sectors such as education and health, resulting in disparities in education and healthcare, even a shortage of primary healthcare in remote areas with dire consequences. Besides, graduates in one discipline do not pursue their career in that particular field but instead choose another, where they cannot contribute as efficiently as they can do in their respective fields, most probably because of unemployment and inflation.
Apart from this, political recruitments have also badly affected the entire country. The key positions are handed over to the persons who neither possess even a single degree in that particular subject nor enough experience to run that department. So, the result is adverse as expected. On the contrary, developed countries render key positions to those people who have vast experience and higher qualifications in that field and they add constructively to the development of their nation.
To sum up, long-term policies, political stability, innovation, quality education and honesty with the nation while prioritizing national interest over personal are key to saving Pakistan from further devastation. As earlier mentioned, long term policies come from political stability, which seems arduous in case of Pakistan following musical chair game but it can be possible through signing charter of democracy and coming on single front for the sake of country forgetting their political revenges. So, all the stakeholders must come forward and co-operate each other in devising long term policies eyed on innovation and technology and implementing them, since it’s only option left for better Pakistan, that will enable Pakistan to garner its fruit, and compete globally.