COAS General Qamar Bajwa reveals reasons for difficult economic situation of Pakistan

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COAS General Qamar Bajwa reveals reasons for difficult economic situation of Pakistan

ISLAMABAD - COAS General Qamar Bajwa reveals reasons for difficult economic situation of Pakistan.

Chief of Army Staff General Qamar Javed Bajwa Friday said that fiscal mismanagement is the reason behind difficult economic situation Pakistan is facing at present.

“We are going through difficult economic situation due to fiscal mismanagement. We have been shying of taking difficult decisions,” the army chief said while addressing a national seminar on ‘Pakistan’s Economy: Challenges and Way Forward’ organised by the Institute of Strategic Studies, Research and Analysis (ISSRA) at the National Defence University (NDU).

“Armed forces played their part by voluntarily foregoing annual increase in defence budget … and this is not the only step we are taking for improvement of economy,” the army chief said. “We understand that government has gone for difficult but quintessential decisions for long-term benefits and what we are doing is playing our part,” he continued. “We all need to fulfill our responsibilities in this regard so that these difficult initiatives succeed,” he stressed. “There are examples in recent past when other countries also confronted similar challenges and they came out successfully after taking difficult decisions,” he observed. “We shall also wade through these challenges,” he hoped. “In difficult times, no individual alone can succeed unless nation comes together unitedly. It’s time to be a nation,” he maintained.

The army chief endorsed undeniable linkage between security and economy as both directly complement each other. “There cannot be any sovereignty in the absence of economic sovereignty,” he maintained. Gen Bajwa thanked the NDU for organising the seminar and panel and attendees for their participation. He said that such types of interactions are important to enable both government and other stakeholders in exchanging their views on issues of national importance.