Economics, the economic gap, and economic strategy are the backbone of every state’s policy. Aristotle’s concept of Eudaimonia states that the true purpose of a state’s economic planning should not be the mere preservation of wealth, but to provide citizens justice, accessibility, and a flourishing environment.

From the management of scarce resources to creating a deliberate plan of action to meet ends and goals, there exists an “economic gap” — a race between expenses and income. While printing money creates hyperinflation and borrowing money starts the cycle of debts and interest, the last resorts are either remittances or Foreign Direct Investment (FDI).

Remittances are the backbone of Pakistan’s economy. Although they are a passive source,  as they only support households of migrants and have no direct participation in the industrial sector. Yet, $23 billion in FY2023 is not an amount to be ignored. The paradigm shift from a passive source of the economy into a more active, FDI-backed industrialization is required. This is only possible if growth and institutional quality are coupled with the rule of law and an accessible, trustworthy justice system.

Investors will only invest in a state where they have “clarity of mind” that, in case of dispute, they will be redressed, and there will be no prejudice or bias. In addition to this, there must be satisfaction that they will not be swallowed by hefty........

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