Economics of Investment
Why is Pakistan barren so far as investment is concerned? With all the horse and pony shows going on the investor refuses to bring in investment. The MusharrafShaukat regime did the same. Many ‘soormas’ went on a junket trip all over the world but to no avail. In fact now those that have already invested here are moving out of the country. In fact the weakness in the country is not only in terms of investment for the malaise is deeper than that. No one in this country wants to confront the truth. The other day Barrister Aitzaz Ahsan was lamenting the fact that the re-ordained CJ had an excellent chance of correcting the lower judiciary. y. That did not happen.
Matters have deteriorated since then. The bad has become worst and the worst has become unspeakably bad. I go to these lower courts and see astonishing facts. It is now common knowledge that what the witness says is never recorded as such especially if the state is involved. The criminals in the state are active and want to have it their way. But the malaise is deeper than that. I personally went to the high court in an application for contempt of court. The case would be on the list and then at midnight or so we would be informed that the case has been delisted. A retired judge was involved and would try and save his son-in-law. We know from previous experience that son-in-law is kept in cotton wool than a son of seven sisters. They are so sacred that they have to be given a ‘bisakhi’ by the political system. In return the political system receives its pound of flesh. It goes on.
I have had the good fortune to know Justices Cornelius, Saad Saud Jan and Justice Zafarullah and Orcheson who were men of great integrity and good sense. I used to bunk school to listen to the legal battles that were going on in the Lahore High Court. One such legal battle was the EBDO proceedings against Suharwardy. It was a spellbound performance by the leader from erstwhile East Pakistan. Problems will always be there and the way out is with reasoning and not with brute force. The problem is deeper than what is imagined by the policymakers who seek to avert every issue by the use of force. What is law and order in Karachi and is the unrest merely because of the law and order instances. Are we investigating the obscure? The obscure has become more obscure with the passage of time. When the ignorant doubt they do not know what to believe. What are the social and economic truths that are to be understood for serious action to be taken? Fire here and fire there is only an indication of fire in the human souls that Pakistan is unable to handle. The prize of a PM is the understanding of the social malaise that is hitting the country and the prize of a general is not a bigger tent but a better and stronger command.
PM’s ownership is not a terminus but a gateway to bigger and better things. Investment, profits and large ones at that should mean more investment and more employment. Has that happened? No Loans are provided to friends and not to entrepreneurs and these friends are getting the most of it without any collaterals and guarantees. The banking system has been debunked by the debunked policies