Whenever a country moves towards economic stability, hostile elements attempt to undermine it. Recently, a blast near Jinnah International Airport claimed the lives of two foreigners and one local, injuring 17 others, including five security personnel. Vehicles and motorcycles were also damaged in the incident. This is not the first time that Chinese engineers or those associated with CPEC projects have been targeted by terrorist organizations in Pakistan, but this attack’s timing is significant, as it comes just before the Shanghai Cooperation Organization (SCO) conference.
The SCO covers nearly 80% of the world’s area, representing around 40% of the global population and approximately 32% of the world’s GDP as of 2023. Pakistan’s economic stability is crucially linked with political stability, but disruptive elements aim to destabilize the country. The opposition seeks to instigate unrest and divisive politics, with China investing $62 billion in Pakistan on various projects, including roads, dams, pipelines, and port infrastructure. Apart from jihadist organizations, Baloch militant groups are also active and can be mobilized for specific objectives.
In Khyber Pakhtunkhwa, for example, jihadist groups linked to the Pakistani Taliban and freelance militants are suspected of targeting Chinese nationals. These freelance groups have past associations with organizations like the Pakistani Taliban or Al-Qaeda. Today, they operate independently, conducting outsourced attacks and recruiting suicide bombers for attacks, as seen in the assault on the convoy near Karachi Airport.
The investigation revealed that a small car loaded with explosives was used, resulting in its complete destruction. Unfortunately, neighboring countries like India and Afghanistan exacerbate relations instead of fostering better ties. Both countries have perpetuated anti-Pakistan propaganda, while also supporting terrorism and sectarian divisions within Pakistan. India’s strategy has historically been to destabilize its neighbors, and it is evident in its strained relations with countries like Nepal, Bangladesh, and China.
Economic stability is intertwined with political stability. Constant protests and rallies create uncertainty and hinder economic activities. After the recent protest announcement by PTI in Islamabad, roads were blocked, affecting business activities across multiple cities. Protests disrupt trade routes, causing business owners to fear property damage, while internet and mobile services are frequently shut down, which affects the IT sector.
Protests are a democratic right, provided they don’t harm the economy or the country’s image. The upcoming SCO meeting on October 15-16 will bring various delegations to Pakistan to discuss matters like economy and investment. Continued unrest could jeopardize efforts to attract foreign investment.
In 2014, for example, Chinese President’s visit to Pakistan was canceled due to PTI’s sit-in protests. With rumors suggesting that China’s Premier will attend the SCO meeting, Pakistan is in talks with China about debt repayment in yuan instead of dollars. While previous negotiations with China were unsuccessful, hopes are high this time to discuss debt repayment mechanisms.
Pakistan needs a coherent strategy for sustainable economic progress. Measures are being taken to improve power generation, including a 1200 MW solar power project. Moreover, ending the trade embargo with India and encouraging India’s role in SCO and SAARC could further regional integration. Regional trade requires banking channels between member countries, while enhanced transport and logistics will benefit Central Asian countries that rely on Pakistani ports.
The SCO’s focus has expanded beyond regional security to include enhancing relationships, energy infrastructure partnerships, local currency transactions, and regional trade. Now is an ideal time for an all-parties conference to establish a new Charter of Democracy. The current perception that political forces cannot make independent decisions undermines democracy and erodes public confidence.
In this critical period, a consensus on political and economic stability is needed to navigate through challenges and ensure sustainable growth.