KARACHI:
It seems that the vultures have smelt the carrion of Pakistan’s economy and are preparing to feast on the carcass one last time before leaving the remnants for the two hundred twenty-two million indigent population. Even the common man has now given up on all hope and illusion. Despite not being a veritable poet, I am so heartbroken and anguished that this verse has descended on me to reflect the feelings of the oppressed nation.
Ye haal apna huwa hai teri khudaee mai;
Bacha he kya hai meray kasa e gadaee mai
Recently, the government announced plans to sell its assets at throwaway prices to raise foreign exchange, which is creating the impression that Pakistan is on the precipice of default. An ordinance has been issued, which is yet to be signed by the president. It provides blanket permission to the government to ignore all due diligence and grab whatever is being offered against this dubious distress sale. Their actions can neither be challenged in any court of law nor can the regulators question the intent and transparency of these highly unwarranted disposals if the government goes ahead with it.
I was disappointed to learn that shares of blue-chip companies like Pakistan Petroleum Limited, Oil and Gas Development Company Limited, and Mari Petroleum are being offloaded at a time when they are trading at their lowest value in history because of the stock market crash. The Finance Minister, Mr Miftah Ismail, must realise that he is not selling miscellaneous items. I do not expect any compassion from the ruling set up but at least I have the liberty to enquire from our Creator in the poetic words of Iftikhar Arif;
Bikhar jaen gay hum kya jab tamasha khatm hoga;
Meray Mabud akhir kab tamasha khatm hoga.
Haroon Rashid Siddiqi
Canada
Published in The Express Tribune, July 27th, 2022.
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