Dear Prime Minister

From the bottom of my heart, I beg Prime Minister Imran Khan. I beg Mr Nawaz Sharif. And, I beg Mr Asif Ali Zardari. I earnestly and humbly beg them all. Please, please rise above this zero-sum game of politics. Last year, 37 million voted for you and they are all now facing extreme economic hardships. More than 95 percent of Pakistanis are finding it awfully difficult to make ends meet.

Dear prime minister, Pakistan’s private sector is the goose that lays the golden eggs. Those golden eggs then run the business of the state. Sir, the goose is being strangulated; it has already stopped laying the golden eggs.

Last week, a friend and I went to a high-end restaurant. The manager came up to our table and began discussing his predicament. Over the past ten months, he said, his daily sale has come down from Rs700,000 to Rs300,000. A waiter at the same restaurant told us that his tips have fallen from Rs1,100 a day to Rs500.

Sheikh sahib owns a low-end ‘tikka-shop’. Last night, Sheikh sahib told us that he has been in this business since 1998. Over the past six months, he said, his daily sale has come down from Rs75,000 to Rs25,000. He cannot now afford to keep all his employees working. Some of his employees, he said, have been working for him for the past 20 years. How can he fire them?

My producer – an educated, competent professional with a young family – lost his job. He is now driving a taxi. Imagine, an educated, competent young professional driving a taxi. Last month, he shared with me that he could either pay his gas bill or his kids’ school fee. I saw real tears rolling down the cheeks of this young competent professional.

A few days ago, I was with a female anchor who still has her job. Lo and behold, she also shared with me that she’s having difficulty paying both her gas bill and her kid’s school fee.

A year ago a monthly salary of Rs50,000 was considered reasonable. Two days ago, I asked a cameraman about his gas bill. He said Rs15,000. That’s more than 15 percent of his salary. An additional 15 percent will go towards the payment of other utilities and 30 percent towards rent. All that he’ll be left with is Rs20,000 to run his kitchen, pay school fees, buy children’s uniform and a whole host of other incidentals.

Sir, the State Bank of Pakistan recently reported that ‘notes in circulation’ have gone up from Rs1.9 trillion in 2013 to a current figure of Rs4.6 trillion. What that means is that people with capital are running away from the economy – and are hoarding cash. Businessmen are scared and uncertain. No one wants to invest. Our prime minister is setting up ‘shelter homes’ by the hundreds but companies are laying off people by the thousands.

Circular debt, for instance, has gone up to Rs1.6 trillion. This is the bomb waiting to explode. This is the burden that has to be borne by the 23 million electricity bill receivers – each would have to be pay an average of Rs70,000. A slowdown in GDP growth means 1.1 million additional unemployed and 4.1 million additional below the line of poverty. What is really scary is that this may only be the beginning of the vicious cycle. Sir, save the goose that lays the golden eggs.

The writer is a columnist based in Islamabad.

Email: farrukh15@hotmail.com Twitter: @saleemfarrukh