IWCCI president calls for ‘technocrat setup’

ISLAMABAD: Samina Fazil, founder president of the Islamabad Women’s Chamber of Commerce and Industry (IWCCI) said on Sunday that the current government should be succeeded by a technocrat setup to take necessary measures imperative for the survival of the country.

Usually, an interim government comes for a short period of time to hold general elections, but it will also be able to steer the country out of problems that are facing an economic free fall, she said in a press release issued here.

Talking to the business community, Samina Fazil said that while the recent financial support from the International Monetary Fund (IMF) has improved the country’s financial condition to some extent and minimized the risk of default, a lot still has to be done.

She said the appointment of technocrats based on their expertise, particularly in vital areas such as finance, commerce, industry, investment, water and power, and women’s empowerment, will help change the situation for the better.

Explaining further, Samina Fazil stated that technocrats do not run for office in elections. In certain countries, the Prime Ministers are both economists and technocrats, she added.

She said that sometimes a technocratic setup is introduced when political parties fail to deliver.

Samina Fazil acknowledged that such governments are known for making tough decisions that political governments often shy away from, fearing a loss of support.

In some instances, a technocratic government is formed through consensus among all parliamentary parties when a regular government cannot be established.

She added that Pakistan has witnessed technocratic governments in the past, during the eras of General Zia and General Pervez Musharraf.

Highlighting the current state of Pakistan’s economy, Samina Fazil expressed concern that the nation has fallen behind other developing countries, making the survival of its economy a difficult task.

She emphasized the need to bolster the confidence of the business community, promote exports, and encourage Pakistani expatriates by providing additional incentives.