This letter refers to the article ‘Can a country survive on loans?’ (July 7, 2023) by Hassan Baig. It is a fact of economics that lending and borrowing are a part of economic development. There is nothing wrong with them in and of themselves. It is the misuse of loans for bad investments and corruption that spoil the game. To blame borrowing and lending themselves amounts to throwing the baby out with the bath water. The writer’s contention that “Almost all things in Pakistan … are managed through an ad hoc approach” indicates unfamiliarity with ground realities.
The Planning Commission was established in Pakistan in 1955 and is still working in full force, making five-year development plans and annual development plans. It is the plans that we make that are flawed.
Abdul Majeed
Islamabad
