In the history of Pakistan, never before have we had a Prime Minister as the one in office today who had continuously given us so much good news about the prosperity and well-being of our country. Everyday, the newspapers come out with screaming headlines, announcing one success after another. "Sugar crisis has been resolved." This is a recent claim of Prime Minister Shaukat Aziz. However, when we read further, we find out that a committee has been formed to determine reasons why the prices have gone up and whether the sugar mills have formed a monopoly or is there a real shortage?
Another headline says, "Pakistan's exports will cross $28.0 billion mark within five years." But as is so rightly said, the devil is in the details. When we go into the relevant details behind this tall claim, we come to know that the exports of textiles have gone up by about 0.9% in the July, 2004-February 2005 period.
The Prime Minister is supposedly taking steps to get anti dumping duty on bed linen removed, a task with which he has been preoccupied since the last couple of years. However, the killer sales tax on exports and the suffocating laws of CBR will remain as they are. The export refinancing rates have increased from 3% to 8%.
Pakistani textile and clothing will not receive duty free access to EU and USA but since you, the honourable Prime Minister of Pakistan, state that the exports will be doubled within five years despite all these anti-export measures, we have no alternative but to believe you!
Let us now dwell a little on another light that is being shown to us by our erstwhile Prime Minister at the end of the tunnel. It is said that the economy is growing at a very high speed and therefore inflation has gone into double digits. The people should have patience and within a few years, they will enjoy a much higher income. This news, instead of receiving thunderous applause, sends the public into depression as they realise that even the high rate of development has not yet given them the expected benefit on account of some technical and economical snag!
Pakistan has broken the begging bowl, now we are not under anybody's dictation," screams another banner headline. Statistics from State Bank's website reveals a different side of the picture apparently obscure to our Finance-cum-Prime Minister. It is stated by the State Bank that we have increased our loans by one and a half billion dollars and are also consequently taking dictation from the IMF. The hapless citizens and taxpayers of the state are on the other hand told to rejoice in the news that the kashkoal has been broken.
"The economic atmosphere in Pakistan is so favourable that if a businessman cannot earn tons of money, he is not a businessman at all." No doubt the smugglers, speculators, hoarders, manipulators of the stock exchange have all earned and are earning billions of rupees playing bulls and bears in the bourse and every section is making a fortune through the sales and purchase of properties.
But all these so-called businessmen have not created a single job or set up any industry in Pakistan. What is the worth of this money for the nation? Suicide rates are on the rise as more and more frustrated Pakistanis driven to the wall of hunger, poverty and humiliation are ending their lives.
"Essential commodities will be imported from neighbouring countries on low prices which will reduce the cost of living." A month has passed but we have not seen these low-priced items in the market. Perhaps these items have also been hoarded by the importers.
The middle class, which is your main vote bank, is being oppressed, suffocated and eroded by the economic policies in place and if these engines of the nation's growth and prosperity do not find their fuel in the form of jobs and a stable economy, this barrier or buffer power between the haves and have nots will be eliminated.
As a consequence, there will be a direct clash between the rich and poor causing a big bloody revolution. It seems that you have not yet pictured such a scenario and its implications for the country despite having knowledge of everything that is going on in Pakistan? You are paving the way to success for the enemies of the nation. The only way of saving Pakistan is to knock out or postpone some controversial mega projects and set up industries that could provide employment to the disadvantaged elements.
At present, the only industries that are flourishing are those of burger, pizzas, kolas, soft drinks, food stuff, spices etc that provide few jobs and the royalty of such industries is going to foreign countries in the shape of foreign exchange.
This is a most important development after the occupation of Afghanistan by UN/US forces. It was the duty of America and its allies to eliminate the poppy and drug culture. There is news that this year, there has been a bumper crop of poppy and narcotics in Afghanistan and some people alleged that due to political reasons, the US has compromised with the war-lords of Afghanistan to appease them and Pakistan is now being blamed for the transit of these drugs. Either the US takes responsibility of eliminating drug culture or legalise this trade. It is high time that we should speak frankly with the United States to legalize black money and for the Government of Pakistan to channelize it in some useful schemes.
You have proved a successful banker. Now prove that you are a good economist as well and have a human-heart that will take care of the hungry young nation of Pakistan that requires both food and education. Nation wants an inquest.
(The witer is Founder Chairman & Patron-in-Chief, Towel Manufacturers Association of Pakistan)
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