KARACHI:
Currently, we are witnessing a mindless pursuit and turf war, which is driven by an insatiable greed for power. The consequences of this will be borne by the country and its 225 million people. The imminent economic collapse that Pakistan is facing is a result of almost over 25 years of abuse and mismanagement by those at the helm and their inability to handle the economy. In Pakistan, almost 65% of the industry is owned by cartels that are exempted from taxation, and enjoy endless subsidies, and waivers. The federal budget relies on foreign loans, instead of revenues, with imports exceeding exports and massive institutionalised tax evasion.
Even the likelihood of an impending default or bankruptcy does not seem to deter the political elite. On the one hand, masses who are already living in utter despair and poverty are being asked to tighten their belts, but the elite living on taxpayer’s money continues to lead a luxurious lifestyle, importing expensive SUVs, executive jets, helicopters, etc.
From 1958 onwards, the country has suffered at the hands of incompetent leaders and decision-makers. There must be a method to this madness, otherwise, why should it not be visible to them, that the only thing left to offer and which our known enemies have been so vocal about, is our sole defence deterrence. Even in such times, the political bickering by PTI, PMLN and PPP continue, further aggravating the economic crisis.
Ali T
Dubai
Published in The Express Tribune, July 23rd, 2022.
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