In recent years, there has been a conspicuous change of behavior at the highest level of governance when it comes to the economization of Tourism. Governments, past and present, are driving the effort to change the perception of Pakistan at home and abroad by incentivizing tourism and expanding its scope, especially the role tourism plays in the domestic economy. The intention to avail advantages from tourism to boost the economy to facilitate economic development and earn hard cash for the debt-ridden nation is a long process. Even at international forums, industry experts and people associated with it acknowledge the potential tourism has for Pakistan’s economy.
The international financial watchdog has given Pakistan a grace period. It might be its last chance to prove its seriousness to implement FATF recommendations. It has to uplift its efforts to get clean of the terror financing charges against it. In other case, it would have to face some severe consequences. The previous efforts by Pakistan show its willingness and eagerness to escape the list. One should hope for the best. It has three months to accelerate its efforts. Hence, the actual test starts now.
The economic challenges for the government are not going to end soon among which the circular debt challenge is surging rapidly. It can damage the already Corona struck economy of Pakistan. More importantly, it will cost the power sector of Pakistan a huge loss on which the economy is highly dependent which can consequently result in the worst economic nightmare for Pakistan.
The success of CPEC lies in unity and clarity about the project. It is for this reason that the JCM is established. JCM brings clarity and transparency to CPEC but highlights loopholes in internal politics and Pakistan’s national unity. It is high time that Pakistan puts in the effort to get its house in order.