Naveed Hussain Shah
Global Goodwill Ambassador
Development Expert by Education
Half of the world population lives in poverty. 80% of humanity lives in less than $10 per day. Income differential is widening every day in third world countries. It is a very bold proof of the failure of current economic model.
Nearly a month ago an event LIFT Pakistan was held at Islamabad. As a VIP guest, I had privilege to discuss stuff with organizers. In a session, the host asked attending honorable European Ambassadors to help Pakistan out of economic crises. The looks on the faces of honorable ambassadors shown brighter as representatives of rich economies. However, while this host mentioned natural resources of Pakistan, the looks changed. Pakistan came out to be more resource abundant than the countries it is asking help from. Nevertheless, Pakistan’s economy is a poor economy. Likewise many developing and under-developed countries.
The main reason for their poverty is world’s current economic model. Their resources are only benefiting dominant and powerful nations and their people. How can local resources benefit local population first? There can be a big debate, as it is not only an economic but also a political issue. Doing this will definitely stir multi-nationals. However, there can be a win win for all. A model good for everyone, no one loses. Only such a model can eradicate poverty.
The new minutes should address the following points:
We need a new or an updated International Charter of Human Rights incorporating the following economic points.
- Natural Resources: The money earned from selling resources should be spent only in five sectors Defense (internal & external), Health, Justice, Education & Technology.
- Multi-nationals or any country cannot buy/sell resources of the country without considering 60% of benefits of profitability to local population, directly.
- Multi-nationals or any country should transfer technology to the place of the resource. Raw to fine processing should be done in the home country of the resource. Local employment rate will soar up and also, technology will help the local population to establish their own industries.
- UNO should pass a law to ban governments selling their nation’s natural resources or bargaining those resources to settle governments’ debts.
- Instead of donating money, humanitarian networks should use that money to create jobs for target population. As governments in third world are corrupt. About 90% of the debt money and aid money goes to the Western Banks or local bunkers. Not benefiting the population.
- State-Person agreement. All countries should honor it. While state takes taxes, it is responsible to provide security, justice, health & education to its citizens, without any discrimination. Only such nations should be allowed to have agreements of their resources under the conditions as described above.
- To regularize this, there should be another department at UN to issue licenses and monitoring agreements & activities.
Did you ever worry about natural resource not benefiting local population? Yes, in most cases, it very true and it is the basic cause of poverty and deprivation in resource rich nations. Redefining business on natural resources and regulating these resources internationally, will definitely minimize economic exploitation & misery of poverty-stricken people.
What I wrote is genuinely my knowledge and point of view as a development specialist. However you can read these pages to acquaint yourself further.
- Managing Africa’s Natural Resources pp 15-38 | Cite as
The Status of Natural Resource Management in Africa: Capacity Development Challenges and Opportunities. https://link.springer.com/chapter/10.1057/9781137365613_2
- Exploitation of Energy Resources in Africa and the Consequences for Minority Rights
by Julia Maxted
First Published March 1, 2006 Research Article
- Natural Resource Exploitation, Environment and Poverty – bibsys brage
- UN report https://www.uneca.org/sites/default/files/PublicationFiles/sdra1-full.pdf