What will Pakistani MNAs do after they get out of office? Well! They might as well be Asset Managers in several asset management companies in the capital market of Pakistan. This is no joke. The barely-graduate parliamentarians (with degrees fake or original) have proven to be the best asset managers in the country by a country mile.
Rewind back to 2008, when the global recession touched Pakistans shores and shoved the countrys economic indicators in murky waters; the stock markets took a severe blow, major commodity markets dipped and the real estate market underwent a crash landing.
But none of these mattered to the efficient asset managers that Pakistans MNAs are, while they managed to emerge as winners in the toughest of situations - increasing the average asset worth by a good 87 percent.
One assumes it was just a coincidence that 2008 was also the year when rue democracy took full charge as the peoples government took the driving seat. It is also interesting that the growth in MNAs assets during the boom period of FY03-FY07 was marginal, which only makes one believe that they worked harder in tougher times - never mind if only for their own assets.
Why doesn having people with such good investment skills always translate into the governments performance remains a mystery unresolved. The government would be best advised to optimally utilise the skill set that the MNAs possess to anchor Pakistans ship out of troubled waters.
Another perspective of the MNAs wealth is their claim to be the true representative of the poor people of Pakistan - i.e. elected from among the masses - which sounds ridiculous considering the average asset worth of Rs 81 million that an MNA possesses. The peoples representatives from the awami government own assets worth Rs97 million on an average - wonder if they are any poorer after the floods or perhaps the flood waters never reached their lands?
Even the picture of the most vocal anti-feudal group in the parliament does not reflect their claim of being representative of the 98 percent middle class and poor people of the country. Surely, an average Rs25 million worth of assets owned by MNAs from the party which currently forms the coalition in Sindh, stays far beyond the reach of the masses who are being induced to brace up for the revolution.
The PILDAT report also highlights a few busy MNAs who failed to declare their assets. A household name mentioned twice in a row in the list is that of Mr. Dasti; he was probably busy preparing to face the court to defend his degree. It is time that those who do not declare their assets are forced to do so; and in the meanwhile the FBR needs to make public the taxes paid (or evaded) by these wealthy parliamentarians.