Almost two thirds of the Pakistanis are concerned about the economic and financial health of the country - as inflation and unemployment is considered as the number one issue by a good 63 percent people, according to a recent survey conducted by the Gallup Pakistan.
How serious is the government in filling the vacant position is anybodys guess, but a hint could be taken from the fact that the already occupied Prime Minister, Mr. Gilani has for the time being taken charge of the finance portfolio as well.
The Prime Ministers credentials as a seasoned politician are not in doubt, but that of his financial and economic understanding do raise a few questions. And, it is not even that Pakistan faces no other major issue apart from the economic ones - Mr. Gilani already has enough on his plate to deal with.
The fact that he will also be chairing the Economic Co-ordination Committee (ECC) makes one seriously concerned over the dealing of numerous challenges at the economic front currently faced by the country.
Adding insult to injury is the fact that the most likely candidate to take charge of the finance portfolio is said to be an investment banker. Such a choice can possibly take Pakistan back to the Shaukat Aziz days of a service-based, consumption-led, import-dependent growth model.
One may argue that Tarin too is no economist as hes only a banker - but his case can be counted as an exception given his track record in effectively dealing with a number of serious issues - such as the 7th NFC Award and his emphasis on real sector development.
So what has Tarin left behind in the office besides his legacy? A National Governance Plan. The proposed plan focuses on a major revamp of public institutions, with high emphasis on effective human resource utilization and better management style and strategy.
As they say, the charity begins at home, it will be interesting to see whether or not the proposed governance plan is actually implemented, as the first suggestion refers to a major rightsizing of the cabinet to reduce the number of ministries to thirty.
One hopes that the finance ministry does not become a victim of this downsizing, if Tarins plan ever gets implemented, as Gilanis takeover of the finance portfolio, albeit temporarily, might suggest so.
Tarins proposal also highlights an issue which has hampered the countrys economic performance for so many years, i.e. the excessive government spending.
The proposal also talks about rationalizing the perks and benefits of the high paid government machinery starting from the prime minister secretariat itself, which, if implemented, can send vibes of hope to the rest of the country.
The proposal also intends to bring a corporate colour to the traditional laid back government culture by introducing pay-for-performance system. Promotions and rewards will be based on the performance conduct and seniority will only have a small weightage. This step can increase healthy competition within the government organizations, hence improving efficiency.
The proposal has a long list of many other commendable suggestions such as documenting the economy, digitizing the records and revamping the FBR. There is a ray of hope only if Tarins successor successfully implements the plans, which look incredibly good on paper.
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