It is great big ignominy for us that in the list of 162 most corrupt countries Pakistan is standing on 142^nd rank. Among 146 failed states our terrain has the honor of being in the most top ten. Ninety-eight countries are declared best than Pakistan regarding business preferences out of 125. Concerning to press freedom we are enlisted in ten worst states. Out of 121 dangerous lands, my country has been placed in the first top seven. In June 2007, International credit rating agency dropped Pakistan’s credit rating, which has ultimately halted the arriving foreign investments that tended our sharp and genius finance ministry to privatize our precious national assets to foreign hands, and now we are seeing its terrible outcomes. Clear signs of downfall of our economy are now appearing which are confidently portraying a horrible picture that if these circumstances persist than we won’t be able to maintain our economic growth rate and may God forbids we would once again spread our hands before IMF.

And this is highly tragic for me that despite knowing entirely the current economical position of ours, our government is still adhering with rubbish obstinacy on hollow claims of successes and victory on the respective grounds that is solely based on apparent falsification. While presenting the federal budget of 2007-08 in national assembly on June 2007, our honorable federal minister of finance did few claims that were quite far from reality, the most praiseworthy more than this was that he was applauded by our respectable assembly members through desk beats rather than being objected. Those false claims are as follows,

·        Pakistan has now become a cradle of peace.

 (Here I don’t want to give any comment as the contemporary situation in Pakistan is clear to everyone how much peaceful it is.)

·        2007-08 is the golden period of resources’ distribution among all four provinces.

(The reality contrary to above assertion is this, due to provincial differences our smart government couldn’t even announced NFC awards.)

·        Since last two years about 2.6% of GDP is being used for educational programs.

(The truth is this in 1998-99 government used 2.1% of GDP for aforementioned projects, and in 2004-05 just 1% of GDP was spent which was no doubt pretty less than past decades though it was stated that our treasury is full and entirely for public welfare.)

·        Our development is appealing foreign investors to come, the entire world is very keen to invest on our ground.

(Recently, perhaps due to excessive gourmandize our governor State Bank asserted at last that we are not having any foreign investment in our industrial sector plus the investments that have been so done in rest of the fields are full of loss for us due to their high profit rates. So instead of taking the credit on the basis of big investment volume it will good if government better reconsider and redesign the concerning policies.)

·        The micro finance system of Pakistan is world’s most ideal one.

(Well, this is on the record that according to micro finance scheme of December 31^st, 2006 just 1,100 million PKR were issued by the banks, while on the other side volume of debts so given on the basis of consumer finance scheme for the mere acquisition of lavishness were about 276 hundred million PKR.)

Our government is constantly claiming about its “good governance” since last eight years, but the report so issued by Asian Development Bank on August 2007 clearly and openly stated, “There is highly bad governance in Pakistan, corruption has firmed its roots and its social figures are entirely worst in whole Asia.”

Soon after becoming the premier of Pakistan in 2004, Mr. Shukat Aziz assured that the day isn’t so far when every Pakistani face will start shining with the glory of prosperity, till 2007 every person will get clean and pure drinking water. In the same manner President General Pervaiz Musharraf stated with great confidence that till 2012 there wouldn’t be anyone left in Pakistan worthy of Zakat (wow, what a claim) and in 2007 clean drinking water will be in everyone’s reach. Now this mighty 2007 is also coming to its end and none of the above claims have come true, it’s only due to no proper and efficacious implementations, I must say once the whole system is plunge in corrupt and blood sucking orchids how an effective exercise can be done?

According to premier’s advisor of finance and economy if the present GDP remains stable then we can hope for the improvement in common’s life standard in coming 15-20 years. But if so going economic policies persist than the stabilization of GDP is certainly impossible. Regarding the task of clean water supply Federal health minister said in senate on June 13^th, 2006 that this task requires at least 10 years to be get done.

Likewise, our establishment is also jumping high on the credit of tax collection and filling treasury to mouth, but the reality isn’t that much delightful to be rejoiced. Economics tells us that the ratio between tax and national net production is an exact gauging device to determine success and failure in tax collection. In this respect we see that the percentage of the subjective ratio which was 13.2% in 1998-99 decreased to 11.4% in 2002-03 and further to 10.5% in 2005-06, then on which basis our government is asserting that they are very much successful?

Our responsible finance officials often say that in this stratocratic rule our foreign exchange has remarkable shored up. Well, this is not the result of our sweet and smart economic policies and quality and quantity of our industrial production. This is actually the grant which we receive from the side of the west regarding our service in this so-called war against terrorism, and by selling our precious national assets to foreign bidders at low prices. The reality in fact is this; our assistance in war against terrorism has no doubt thrown us in the dungeon of loss and deprivation and has worsened our reputation both on regional and international levels.    

Since last 15 years we are trying to get rid of this nationalization policies. As on the name of nationalization our precious chattels were bureaucratized, and the standard of our bureaucracy is known to all of us.

In other countries including our conventional neighboring hostile, government departments provide at least some what facilities to their workers, plus levies and taxes are also entered in government’s accounts. That’s the reason that they have a strong lobby that logically opposes privatization whenever it is raised in their parliament. Here I discussed their “PARLIAMENT” because it is a democratic region, humaray paas aisa koi concept nahi hay.

The process of privatizing national assets to foreigners since last couple of years, has elevated this doubt that there is a possibility that our foreign nationality holder hostiles could buy these assets under highly planned and organized tactics, and thus with this respect they could bring our economy under their control.

Another doubt is this that some multinational companies and the foreign owners of our national chattels could possibly play a role like East India Company and could pave a way for a new version of colonialism and this is terrible irony of our fate that State Bank is clearly involve in it. We can also not ignore this point that when these new owners will take the revenue of these privatized assets to their countries then this attempt will definitely lay negative impact on Pakistani current accounts, which could result the fall of our currency value.

This is a certain fact that “War Against Terrorism” is highly pernicious for Pakistan. If we really want to boost and secure our economy and nation’s solidarity then for this sake we have to bound our warring assistance to moderate limits and crucially relate this entire support to immediate return of Afghan refugees, taking clear assurance from Washington and NATO forces for not encroaching and violating our precinct on the hollow basis of curbing terrorists’ nursery at any cause, USA must not hurdle IPI gas pine-line settlement and should make genial contracts of energy, investment and free trade with us. I must say we critically need to formulate a new and effective economic policy if we really want to sustain and secure our land.

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