WWP calls for alternative economic model

Workers Party Pakistan (WPP) on Friday demanded an alternative economic model and highlighted the inadequacies in the current economic model ahead of upcoming meeting of bilateral and multinational donors under the aegis of Pakistan Development Forum.

WPP hold a seminar at the National Press Club, to discuss the flaws in the current economic policies and gave alternative suggestions to adopt a new economic model. Pakistan Development Forum will organise a meeting on Monday to discuss another aid package for Pakistan in light of the recent floods.

Addressing the seminar, WWP President Abid Hasan Minto said that there were several steps which could form the basis of an alternative development model. He said that expenditures on defence and debt-servicing must be slashed. He further stated that financial and trade liberalisation must be stopped to remove the uncertainties surrounding the entry and exit of capital in the country. “Privatisation of the public assets should be halted” he added.

He said that we should chalk out an alternative programme for structural reform to remove the country from this devastating model. He stated that it was essential that any attempt at reform should be based on the principle that democratisation of the international order is an essential pre-requisite of development and the unbridled exploitation of natural resources cannot be the basis for a developmental solution.

Other speakers also gave various suggestions to improve the current economic situation. They also discussed the situation after the flood in the country. The speakers urged the government to take alternative steps in favour of the people. The event was well attended by students, workers, academics and progressive political activists.