In the late sixties and early seventies India and Pakistan were at the same rung on the economic ladder, surprisingly both countries embarked on identical reforms over the next decade which, however, led to drastically different results.

The land reforms or the green revolution saw India become a net exporter of agricultural products while Pakistani fields suffered from water logging and salination resulting in the nation becoming a net importer of even the basic food staples

Both countries nationalized all private industry however, while the Indian nationalized corporations became global power houses, thriving Pakistani private industries teetered on the brink of disaster, so much so, that eventually the most lucrative of them all, the textile industry, shifted operations to Bangladesh, apparently a more business friendly nation.

So where did we go wrong?

1. We did not focus on education

2. Industries in Pakistan were nationalized not with the intention of protecting national interest but instead as personal vendetta, Once nationalized they were used to return political favour in the form of lucrative jobs and employment.

3. Corruption was never brought under control resulting in public wealth being transformed into private property

4. The nation started protecting and guarding the interest of the army instead of the other way round

5.Lack of security led to (and continues to lead to) a hostile environment that discourages local and foreign investment

6. Absence of laws safeguarding investments also discourage the kind of foreign investment that has led to a second economic rivival of Indian economy

Most importantly, India practiced the art of frugality, they saved in times of want and in times of plenty. The self imposed sanctions of the seventies also allowed the Indian firms to thrive and mature in the local market, amply preparing them for the subsequent global economic colonization that is still in progress.

The ever escalating economic crisis in Pakistan has just one cause and one simple remedy. The cause is that we are spending more than we earn and the remedy is to stop doing so! How it is that such a simple formula escapes the grasp of the brilliant group of leaders who rule by divine right is a mystery unto itself.