The economic disorder Pakistan is struggling to get out is because of the focus on quick fix measures taken by the successive political and martial law administrations. There exists an alarming unconcern at the highest tiers of leadership within the country. The nation seems to be heading towards probably collective collapse because not a single soul is ready to have an introspection and apply remedial procedures to stay important in the comity of nations.
Finance Minister of our poorly governed state finds himself handling an office way grander than his abilities. Asad Umar does not have any professional qualification or familiarity with Public Finance. With his self-promoting attitude. Twenty years for lifeless economy to come out of bone yard is wishful thinking. Pakistan is in dire need of a detailed economic agenda, a plan rather than self-promotions.
Pakistani people and most importantly PTI voters who pinned their hopes on PM Khan and his cabinet stand deceived on answers to vital financial issues by two major political parties in the past & now the current financial cabinet is added in the fray doing the same. The riddle remain that where we as a nation go from here? The economy is drifting down into a deep sinkhole for reason of incompetent handling in the past & present too, is making the nation to be clueless in finding a solution, which may be an antidote to it becoming healthy & vibrant again. The existing experimentation becomes more frightful because knowing our present precarious financial straits, those responsible to fix it, remain confused, indecisive & directionless. Not realizing the time constraint, to carryout prudent set of action based upon clear policy matrix, what we see is that our financial team to be moving in circles. In the current scenario, this confusion lasting, the nation may be in real bad shape when the actual crunch comes in near future.
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Looking at the current economic misery prevailing in the country, it is quite evident that PTI did not prepare anything substantial to deal with this menace over the last ten years. Once Mr. Khan and his boys got back home from rallies and sit-ins, there was no intent to back up their claims. No backup plan, no study, no groundwork, no strategies, no ‘DAY ONE announcements’. Nothing. Just hollow slogans at rallies and from the famous political container. However, when an actual professional and competent economist volunteered services, Imran Khan showed no backbone and kicked him out because the clueless clerics demanded it for their religious bigotry. There once again Khan had a chance to not be a politician, but a statesman, but in cricketing terms he left that well. In IK’s team people like Asad Umar, Fawad Chaudhary, Zulfi Bukhari etc, lack appropriate professional training, expertise and background to hold such responsible positions. Where is the promised merit? The truth is that yelling threats and abuses at rallies doesn’t really equipe you for the difficult task of governing and delivering. “This is how you get into power. This is democracy. That is exactly how you chant political slogans. Now does democracy automatically solve governance issues?
Now the core issue is not that how much time has been wasted – the issue is how the government is placing and dealing with the expectations and national priorities. Imran Khan’s inaugural address to the nation as the Prime Minister was widely admired as mature and balanced, however, little did he stressed upon the financial plan to resolve the economic crunch other than through assistance from overseas Pakistanis or our so called international allies. It is also below satisfaction that PTI hasn’t taken decisions they required to alleviate immediate issues but appear to be digressing into symbolic and populist political ventures. This is a naive strategy and ill-advisedly a faulty one. The political slogans to bring back looted wealth are delusional. This is the strategy to keep reminding the people about the kickbacks and wrongdoings of the past just to gain an electoral edge. In this way the people focus on the past and does not move forward. In Human Resource management the theoretical concept of Maslow Hierarchy highlights the importance of achieving self-actualization state within the organization, but in trying to achieve this state the organization must undergo each step in the pyramid which originates from physiological needs which comprises of basic human necessities that are (food, poverty, water) trailed by safety, human relationships and one’s self esteem. Imran though rigidly spreads a populist rhetoric of providing self-actualization to the people without delivering the pre-conditions. Bring the looted wealth of the nation, there is no harm to it but first provide stability, security and self-esteem to the people.
However, it is far easier to criticize when in opposition and score points but when in the driving seat it gets difficult to steer safely when the traffic is thick and chaotic. We may not point fingers on PTI’s intentions which appear righteous but methods are sloppy. Putting in efforts to engineer hydro power projects through public funding, struggling to fill national treasuries with deposits from international allies and overseas Pakistanis who have their own breathes to maintain, etc. are fragile starters to bridge the big debt hole in the economy.
It is also a reality that facts are hidden behind the curtain as how BB, Zardari, Musharraf’s & Nawaz Sharif’s regime jolted the country’s economic health. Moreover there is a dire need for well-controlled teamwork of PM&FM who should be able to understand the complexities of running States Financial matters.
Unfortunately the previous governments have blundered &plundered States revenues throughout their reins of power. PM Khan & Umar’s Financial Management of States revenues are not going to have an easy ride, all accepted but where is the economic reforms plan? Where is your financial team? Pakistan’s Financial Management has been miserable for the past 25 years at least. Major reason being incompetent people in-charge including State Bank, FBR, Policy Makers and non-economist finance ministers.
The request is simple, don’t wait for the titanic to sink, it has already hit the iceberg. The rescue boats are limited or non-existent. We must not disturb the rescue efforts. Who did, what, when, where, how etc. etc. will be known later on. Remember: The masses elected PTI not to be updated on past follies but to see a well thought out agenda being put in place for the future. Time to stop whining. And if the blame game persists and nothing constructive comes out I wonder who our desperate nation will turn to then? The way things are shaping up and the boiling point of the public is reaching its max, it seems it will be Khadim Rizvi’s turn. I am already getting chills.
