False claims of healthy econ­omy

The Pak Banker - - 4editorial -

Fed­eral Fi­nance Min­is­ter Dr. Hafeez Shaikh has said that the peo­ple of Pak­istan and the econ­omy have po­ten­tial to meet all odds and would steer out of the cri­sis. He was speak­ing at con­vo­ca­tion 2010 of the In­sti­tute of Busi­ness man­age­ment. The fi­nance min­is­ter cited ex­am­ples of com­mit­ments of the peo­ple at the time of re­cent flood; earth quake and other calami­ties that the nation has al­ways stood united and said it would do with the same spirit to face the present chal­lenges. It was the ex­cite­ment of fi­nance min­is­ter but what are the facts about econ­omy and what it is giv­ing the fruits to the peo­ple. No doubt peo­ple of the Pak­istan have com­mit­ment to help oth­ers but its does not meant that our econ­omy is ca­pa­ble to meet the odds and other com­ing crises. Fi­nan­cial min­is­ter per­haps liv­ing in fools' par­adise, he does not knows hard­ships faced by the com­mon man, traders, busi­ness­men, in­dus­tri­al­ists. If fi­nance min­is­ter say­ing right then why all trade as­so­ci­a­tions are protest­ing against the govern­ment at­ti­tude to­wards busi­ness­men? All the lead­ing trade and in­dus­trial as­so­ci­a­tions in La­hore, on Mon­day, on the call of the La­hore Cham­ber of Com­merce and In­dus­try, staged Dhrana out­side Gover­nor's House in protest against dis­crim­i­na­tion in gas sup­ply to the in­dus­try in Pun­jab and Re­formed Gen­eral Tax. Thou­sands of pro­test­ers be­long­ing to all the lead­ing trade and In­dus­trial as­so­ci­a­tions and Cham­bers of com­merce in Pun­jab re­mained on the road for well over two hours and chanted full-throat slo­gans against the dis­crim­i­na­tion in gas sup­ply and Re­formed Gen­eral Sales Tax. Eco­nomic cri­sis would fur­ther deepen in com­ing days as in­dus­try had failed to ful­fill ex­ist­ing ex­port or­ders. Those who were talk­ing of eco­nomic re­vival in given cir­cum­stances were ac­tu­ally be­fool­ing the masses as the sit­u­a­tion had al­ready gone out of hands and it would need spe­cial mea­sures to con­trol the sit­u­a­tion.

Newspapers in English

Newspapers from Pakistan

© PressReader. All rights reserved.