Archive for April, 2008

Political dynasties, ambitious generals and imported PMs brings economy to the brink

Selfless middleclass leadership can bailout country from political and economic turmoil

National Traders Alliance has said that Pakistan is unstable politically and economically even after decades of experimentation and now we are being ruled by a coalition that is poles apart in their thinking pattern with questionable vision about market and economy.
Political families, aspiring military generals, imported Prime Ministers and some bureaucrats have ruled mostly in Pakistan and many of them are directly responsible for the political and economic chaos, said Malik Sohail Hussain, Vice President, Quami Tajir Ittehad Pakistan and former Senior Vice President Islamabad Chambers of Commerce and Industry in a statement issued here Saturday.
Major economic decision are taken on political considerations and the recent budget is a obvious example how our leaders prefer their agenda on national interests. “We need a new brand of middleclass leadership with a single-minded focus on national development who must be educated or at least well aware in the science of economics,” said Hussain.
He said that our politics in unfortunately revolving around few powerful families who would never allow middle or lower-middle-class politicians to emerge as a threat to their political domination. That is why education is one of the most disliked subjects in the areas lying in the control of feudal lords. read more…

In: UncategorizedAuthor: hostComments (0)

Gas price hike amounts to mini budget

No justification for hefty domestic gas tariff hike
Govt failing itself by launching war against subjects
Masses should not pay for the slippages of elite

Government has raised gas prices sizably without any proper reason or explanation strengthening the notion that it lacks any economic agenda and believes in mini budgets.
The latest price increase, 6th energy hike in four months, will fuel inflation that rose at fastest pace in 30 years.
Government says annual gas subsidies amount to 35.2 billion rupees and it aims to cut it by 11.3 billion, a claim yet to be verified, said Dr. Murtaza Mughal, President Pakistan Economy Watch.
The 31 percent hike that is highest in the region is the most damaging one for country; it amounts to elimination of poor instead of poverty.
The increase will hike cost of production and unleash inflation hitting poor who have over 95 percent share in production and about 4 percent negligible share in resources. read more…

In: UncategorizedAuthor: hostComments (0)