Pakistan's Economic Apocalypse: How Import Lobbies Are Crippling the Nation and What Can Be Done to Stop It

Pakistan's economic woes are no secret. With a ballooning import bill and a dwindling foreign exchange reserve, the country is struggling to stay afloat. But what's behind this economic quagmire? The answer lies in the unchecked power of import lobbies that have taken control of the nation's economy.

At the heart of this issue is the neglect of Pakistan's agricultural sector, which was once the backbone of the economy. Despite being one of the largest producers of cotton, wheat, and sugarcane, the country is now forced to import food items, including wheat and edible oil seeds. This is a stark contrast to the days when Punjab was the food basket of the subcontinent.

The recent wheat import scandal has exposed the rot in the system, with allegations of kickbacks and corruption rife. The sugar industry is another disaster, with the country paying a hefty price for imports that could be produced locally. The import of tea leaves is another drain on the foreign exchange reserve, with Pakistan leading the pack in this regard.

But it's not just agriculture where the country is failing. The energy sector, which was once a surplus, is now struggling to meet demand. The depletion of Sui Gas reserves has led to the import of Liquified Natural Gas (LNG) from Qatar, making it unaffordable for the common man. The coal-based energy system, which is being touted as a solution, has yet to take off.

The import lobbies are also controlling the mining sector, with indigenous ore reserves remaining underutilized. The import of finished metals is crippling the local industry, with the Steel Mill being shut down and steel imports soaring. The Thar coal project, which was supposed to be a game-changer, has yet to deliver, with power generation limited to combustion and gasification still in its infancy.

But all is not lost. Australia's model of focusing on mining and agriculture could be replicated in Pakistan. The Reko Diq project, which was leased out to the Chinese, is finally taking off, with Barrick Gold and the government partnering to develop the mine. The potential for the mining sector is vast, with several unexplored metal deposits waiting to be tapped.

China's model of self-reliance and focus on energy and infrastructure development is another example that Pakistan can follow. The Belt and Road Initiative (BRI) is a testament to China's commitment to developing its own industry and infrastructure. The China Pakistan Economic Corridor (CPEC) is part of this plan, with the potential to transform Pakistan's economy.

But first, Pakistan needs to get its priorities right. The basics need to be covered, and the common man needs to be able to afford the necessities of life. The import lobbies need to be reined in, and the focus needs to shift from imports to indigenization. Only then can the country start to think about exports and competing in the global market.