- By: Maj Aamir Zia (R)
Pakistan’s struggle with national debt is neither new nor accidental, it is the cumulative result of decades of policy inertia, geopolitical entanglements, and a persistent reliance on external lifelines. What makes this predicament more troubling is not just the size of the debt, but the mindset that sustains it.
Geographically, Pakistan occupies an enviable position. It sits at the crossroads of South Asia, Central Asia, the Middle East, and China—a location that, in theory, should translate into trade connectivity, regional integration, and economic leverage. Yet, this potential has remained largely unrealized. Instead of becoming a hub of commerce and cooperation, Pakistan has often found itself navigating cycles of dependency, borrowing, and crisis management.
One cannot ignore the role of external actors in this equation. Pakistan’s relationships with friendly nations whether in the Gulf, China, or the broader Muslim world are often framed in terms of strategic importance and mutual support. However, these relationships have rarely translated into sustainable economic partnerships that reduce dependency. Financial assistance, when it arrives, is typically reactive rather than transformative. Loans from global institutions come with conditions, while bilateral support often carries expectations that extend beyond economics into security and diplomacy.
There is an uncomfortable but familiar analogy at play a state perpetually kept on the edge stable enough to function, but constrained enough to remain dependent. Whether intentional or incidental, this dynamic has reinforced a cycle where debt servicing consumes national energy, leaving little room for long-term planning or structural reform.
At the same time, Pakistan’s internal priorities have been shaped by enduring security concerns. The Kashmir conflict, regional tensions, and involvement direct or indirect in broader geopolitical struggles have diverted attention and resources away from economic development. The result is a state that is constantly reacting rather than proactively shaping its future.
Compounding this challenge is the expectation placed upon Pakistan by allies and partners. From Bosnia to Palestine, from Iran to the Arab world, Pakistan is often expected to offer moral, diplomatic, or even strategic support. While such commitments may align with ideological or humanitarian principles, they also come at a cost especially when they are not matched by reciprocal economic or political backing.
This asymmetry raises a critical question can Pakistan continue to shoulder external expectations while struggling to stabilize its own economic foundation?
The answer lies not in abandoning alliances, but in redefining them. Pakistan must shift from a model of dependency to one of mutual economic engagement. This means prioritizing trade over aid, investment over loans, and regional connectivity over conflict-driven policies. It also requires difficult internal reforms broadening the tax base, improving governance, and reducing inefficiencies that have long hindered growth.
Ultimately, the path to self-reliance is not blocked by geography or a lack of opportunity, but by choices both past and present. Until Pakistan breaks free from the cycle of borrowing to survive, it will remain constrained in its ability to thrive.
The question is no longer how long this cycle will continue, but whether there is the political will to end it.
- About the author:
- The author is a veteran and a regular contributor on current affairs.
- anuhkaf@gmail.com