Tuesday September 06, 2016

 

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The Life of Jinnah

 

Fire Mr. Shaukat Tareen

One special feature of Musharraf system is appointment of banker Finance Ministers to manage Pakistanís economy.

 

It seems like Pakistan has lost its freedom to appoint its Finance Ministers. Shaukat Aziz was dumped on Pakistan by international financial institutions and so is Mr. Shaukat Tareen. Shaukat Aziz shined like a jewel throughout his engagement in Pakistan, but his shine turned into darkness the moment he left the country. Due to his policies, one hundred and seventy million Pakistani have to learn to live without electricity. Darkness has taken over their houses, streets, and towns. Machines are sitting idle rusting in factories because there is no electricity to run them. Consequently, workers have no jobs and their families have no foods to survive.

 

As soon as Shaukat Aziz fled from Pakistan, international financial institutions dumped another Shaukat, this time with last name Tareen, to manage Pakistanís ailing economy. Shaukat Tareen has not changed any thing a bit in Pakistanís economic policies. He has continued Shaukat Azizís destructive economic and financial policies while the people of Pakistan are committing suicides because of hunger, poverty and hopelessness.  

 

As a matter of fact, Shaukat Tareen is worse than Shaukat Aziz. Shaukat Aziz maintained some subsidiaries to make peoplesí lives a little easier Shaukat Tareen has eliminated all those subsidiaries.

 

Shaukat Aziz presented budgets with smaller deficits Shaukat Tareen has crossed all limits. He has given budget with the biggest deficit in the history of Pakistan. Does anyone, including ruling party, know what budget with this size of deficit means in economic and financial terms for the people and the country?  Budget with this big gap in revenues and spending is almost equal to a crimeóa crime against the people and the state of Pakistan.

 

The people of Pakistan saw a short trailer of this budget when Supreme Court of Pakistan issued verdict to temporarily cancel carbon tax on petroleum products causing 120 billion rupees shortfall in already resources deprived budget. President Zardari immediately issued an ordinance to undo the effects of cancelation of carbon tax to back up Mr. Shaukat Tareen engaged at the time in briefing sessions with World Bank officials in Turkey.

 

Now, he has asked World Bank for another 4 Billion Dollars, which means more liabilities and more burdens on Pakistanís already cash starved economy. Is it a way for Pakistan to go forward? What Shaukat Aziz did not know then and what Shaukat Tareen does not know now is what even a layman knows that what happens if one borrows more than his ability to payback.

 

Shaukat Azizís and Shaukat Tareenís path is a sure road to Pakistanís destruction. It is a definite formula for Pakistanís economic demise. Pakistanís economy is already in shambles. Common Pakistanis are killing each other due to economic pressures. Pakistani society is at war with itself due to economic deprivations, inequalities and dried-up economic resources.

 

It is about time Pakistan takes control of its economic future in its own hands. Immediately, fire Shaukat Tareen, cut of programs from the budget causing big deficit, bring down the number of ministers to 13 or 14 at federal level, end the ministries in provinces and manage provincial departments through secretaries, stop making unnecessary presidential and prime ministerial tours, end all unnecessary taxes on electricity and petroleum products, and stop taking advice from international financial institutions about managing Pakistanís economy.

 

If Shaukat Tareenís policies continue, we can guarantee, Pakistan will be in a worse shape than Shaukat Aziz left it.

 

Making deficit budgets should be declared a crime for next 25 years. Only those Economic experts should be appointed for the job who have the ability to make deficit free budgets and eliminate foreign and internal debts over the course of time.

  

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