Beggar! Can the King Be?

A Perspective on Pakistan's Challenges and Global Shifts

When we find ourselves in a public place and approached by a persistent beggar, often our silent wish is for them to move on without having to say, "Please, spare me."

 

A similar scenario seems to be unfolding on the national stage. Pakistanis should reflect on this irony: here is a leader from whom we borrowed ideologies and beliefs, whose wars we took on as our own, turning our land into a haven for terrorism. Yet this same leader has now taken a 180-degree turn, transforming hostility with Israel into friendship, opening trade relations and inviting Israeli investors. On top of that, Dubai has become a magnet for Russian investors, driven there by sanctions from Europe and the U.S. Investment is booming in Dubai, and one must ask—why there?

 

The answer is simple: peace, political stability, and investor-friendly policies attract capital. Where these ingredients exist, money naturally follows.

Turkey has similarly set aside regional conflicts to improve ties with Saudi Arabia and Israel. At the very least, Pakistan could take a lesson in economic pragmatism from the creator of its national hero Ertugrul's legacy, Recep Tayyip Erdoğan. Yet Pakistan lacks all three of these elements: peace, political stability, and investor-friendly policies. Here, people don’t even bring money if offered.

 

First, let’s talk about peace. Since independence, our policy has hardly aimed for peace. Today, our “hawks” seem ready to ride horses across mythical waters—an ironic image, since fuel has become too expensive for such ventures. From the outset, political instability has plagued Pakistan, with revolving prime ministers ultimately leading to military rule, justified by ideological teachings on governance. Even the first general election took 23 years to happen. Immaturity among politicians prevented acceptance of democratic outcomes, leading to a divided nation.

 

Investor-friendly policies represent the third missing pillar. At independence, Pakistan’s elite class was dominated by feudal landlords, marginalizing business leaders as undesirable. When businessmen began to thrive in the 1960s and 70s, they were demonized as the “22 families.” Many left Pakistan, never to return. Meanwhile, our silent "hawks" found satisfaction in “defeating superpowers,” but it left us as victors begging around the world. Of our 220 million citizens, not one is a declared billionaire. The reason is that business is viewed with disdain, cast as incompatible with our ideological notions of ascetic virtue and self-sacrifice. A businessman invests where both profit and capital security are ensured.

Countries that have fostered peace are now reaping economic rewards, trading citizenship for investment dollars:

- Montenegro: $250,000

- Portugal: $350,000

- Turkey: $400,000

- UAE: $550,000

- U.S.: $800,000

- Malta: $1 million

- UK: $2.5 million

 

Yet, in Pakistan, even with an open invitation, investors hesitate. Instead, Pakistanis themselves are taking their wealth abroad. Retired bureaucrats, generals, and politicians collect wealth here but retire to foreign lands, sending back only sermons on the afterlife.

 

It’s time we reassess our beliefs and policies, reforming our ideology to meet the demands of the modern world. The age of imperial conquest has ended; colonialism is dead. Countries today shape policies around economic interests, recognizing that a growing population and limited resources foster self-interest. Yet, Pakistan remains stuck in outdated ideals, preoccupied with “corruption, corruption, corruption!”

 

According to the FPCCI, Pakistanis hold $20 billion in cryptocurrency. The Global Crypto Index ranks Pakistan third in crypto adoption after India and Vietnam. Unofficial sources suggest that more than a dozen Pakistanis are billionaires, but not one appears on the global billionaire list. This highlights Pakistan’s weak and corrupt system, where some evade taxes while others paint the investor as a villain. In reality, all this happens under the radar. It would be better to disband institutions driven by political vendettas and abandon the “thief, thief!” rhetoric, fostering instead an investment-friendly culture to help our 220 million people finally enter the 21st century.