'Economy in the grip of cronyism'

This is apropos a Business Recorder op-ed "Economy in the grip of cronyism" carried by the newspaper yesterday. The writer, M Ziauddin, has stated that "a group of Pakistani families has been extracting a growing share of society's wealth for itself as well as for all those associated with these families. Cronyism is a system of collusion among business enterprises, government officials, and ruling parties including Parliament itself. This collusion results in business-friendly policies and investments that serve private interests at the expense of the public interest." The writer, however, has not included the bourgeois in this group whose members coalesce with each other for upward mobility. This social group between the rich and the poor does have a special interest in money and possessions.
Insofar as Pakistan's political elite is concerned, the Panama Papers case constitutes a strong case in point. Notwithstanding the corruption charges, the Sharif family, for example, is said to have advanced and promoted its business interests through politics or public offices since the General Zia era. Asif Ali Zardari too is said to have treaded this path, albeit in a crude manner, soon after Benazir Bhutto became country's prime minister in 1988. There are many other examples in this regard. Silvio Berlusconi, an Italian media tycoon and politician who served as prime minister of Italy, was no different either. His approach to politics was strongly characterised by his business ambitions. US President Donald Trump is said to be using the White House with a view to serving the business interests of his family.