“Let’s say I am a bank manager and you are one of my biggest borrowers, you never implement structural changes that would allow you to graduate out of reliance on borrowing from my bank, you are close to default unless a sister institution gives the green signal which it hasn’t so far…”
“Whoops that’s a mouthful indeed. I lost you somewhere after you mentioned structural changes which I associate with donor institutions. But one observation: if you don’t default to me…”
“You have put your finger on the pulse of the bank manager – as long as you don’t default to me you are OK. And wait…wait…let me finish my observation – the comment by Asian Development Bank (ADB) President that they will continue to support the incumbent government’s critical and structural reforms agenda…”
“Ha ha, I get it now – the ADB team has not yet informed their President that the structural reforms have not yet begun – yes utility rates have increased to achieve full cost recovery but the onus is on the lower middle to middle income more than on the rich, indirect taxes have been raised to more than 80 percent of total revenue generation, and yes the incidence of such taxes too are on the relatively poor people as opposed to the rich…”
“Complete and pervasive elite capture my friend!”
“Indeed and where you have elite capture without qualifications or competence…”
“Hey if you are referring to Dar sahib let me assure you that his talks with the opposition on the election date are progressing smoothly, though on which side of the spectrum is not yet clear – and before you ask me to define the spectrum I mean towards an agreement or away from it…”
“Don’t be facetious. Anyway when I talk of elite capture Dar sahib without Nawaz Sharif the haqeeqi (real) elite…”
“As opposed to The Khan’s haqeeqi azadi (real freedom)?”
“I guess anyway as I said Dar is not the real elite – the day Nawaz Sharif is no more that will be the day that Dar will cease to have any say in the party.”
“What about The Khan’s opening batsman Notification Maryam Nawaz (NMN)? I mean she is an elite, born and bred…”
“Oh my trust you to put your finger on the pulse of my weakest point in the argument – well I reckon that unless she is more firmly installed than the notification, she may without daddy suffer the same fate as Dar…”
“Indeed and then I envisage Dar leading the negotiations with the PML-N new supremo and NMN will have a two-point agenda.”
“What? To get the leadership of the party and then to win the elections?”
“Well not quite – more like bad mouth The Khan for which she has tremendous practice and bad mouth the then leadership of the party which maybe the current batch of daddy’s proxies….”
“Hmmm, that would mean The Uncle, the cabinet other than those who do not have a portfolio, then there would be some overlapping initially – the Information Minister…”
“Initially till one side wins the battle.”
“And that’s politics my friend – installation has to be over time and sustained with some spark of competence…”
“Off with your head! How dare you even hint at NMN and the The Accountant of being incompetent!”
“You surely are an elite with such intolerance over a difference of opinion!”
Copyright Business Recorder, 2023
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