In this world, every country has three important defense areas: external security/border defense, internal security/people defense, and financial security/currency defense. The protection of a country’s land is connected to its border defense. If a country’s border defense becomes weak, it can affect the demand and supply pattern of the economy. Borders are necessary because there are limited resources in every country, and to protect those resources, boundaries need to be put in place.
Border defense is also important because it is connected to the protection of the population residing in the country. If the country does not take care of its people, they may leave, resulting in a decrease in the country’s GDP. To protect borders, a country can use its own population (by hiring them) or outsource this duty to another country that is more skilled. A country can also make better foreign policies to protect its surrounding boundaries through trading and business transactions, support mutual economies, and save expenses incurred on border defense by maintaining peaceful relationships with its neighbors.
The protection of people (every citizen of the country) is crucial because it is connected to the economy. If the government provides a good environment for people, they can better utilize resources to produce better products. The exchange rate determines a country’s currency value. To maintain the real value of its domestic currency, the government should focus on increasing its exports and not on devaluing its currency by printing it in the central bank. The government should focus on figures of exports that bring foreign reserves to the country and keep inflation in single digits. If a country imports any commodity, it should use its foreign reserve again.
To strengthen a country’s currency defense, the government should focus on improving the education syllabus and skill level of its citizens to match today’s environment. It should introduce policies that are in the best interest of its citizens, such as tax exemptions for low-income groups, reduced tax rates, and single-digit interest rates. The government should also decrease its expenses and recover its relationships with its neighbors. This will decrease the expenses Pakistan uses on military weapons. The saved amount should be spent on citizens to increase their standards, and Pakistan can also spend the saved amount on technology research and development.
SYED ZORAIN HAIDER,