Globalisation and Pakistan's Dilemma of Development (Distinguished Lecture‪)‬

Pakistan's development project that was initiated in the 1950s with a focus on creating a prosperous and equitable society, making the benefits of scientific advancement and progress available to all the people, got lost somewhere in the labyrinth of development fashions and econometric modelling learned in American universities and World Bank/IMF seminars. The latest of these fashions being eagerly followed by the economic managers of the state is the implementation of structural adjustments, termed "Washington Consensus" by some, flowing from the operative roles and ideological framework of neo-liberal globalisation. In practice these adjustments, euphemistically called reforms, have foreclosed the possibility of improving the condition of working masses, not only in Pakistan but globally, including the developed West. If Pakistan is to reclaim its original people-centred development project, it will have to set its own priorities of development in the context of indigenous realities shared in common with its South Asian neighbours. Following the globalisation agenda at the behest of the Washington-based IFIs will sink the country into ever greater debt and mass poverty. **********