Missed opportunities

Like its predecessors, the PTI government is trying to overcome the economic crisis by seeking bailout packages from friendly countries and international financial institutions. To date, Pakistan has sought almost 18 such bailout packages and wasted all these opportunities by living beyond means. No effort has been made to increase government revenues by imposing direct income tax on all sources of income or boost our exports and cut back on imports. Powerful individuals have converted green belts into concrete jungles. Bureaucratic red tape and the culture of commissions and corruption have become an impediment for foreign and local investments. There was a time when Pakistan used to export quality electrical fans.

Now, the situation is completely different. We are perhaps amongst the few countries that offer liberal capacity payment to private power producers and LNG suppliers even for those days when ships transporting liquefied gas are in transit. Our electricity distribution system has collapsed. Loopholes in the 1992 economic reforms continue to facilitate transfer of almost $15 billion annually out of Pakistan. A country that cannot provide clean drinking water to citizens, gifts houses and plots to paid state servants. It is time our government learned from the past mistakes and took effective steps to bring the country on the path to success.

Malik Tariq

Lahore