A disaster in making
Saturday, August 18th, 2012 5:03:21 by Fayyaz Yaseen
A disaster in making
Businesses worldwide thrive on certainity and reliability of the political, social and financial conditions of a country, and Pakistan is no exception to the phenomenon. Being considerate to this fact and faced with the worst financial times of the country’s
history, it was expected of the incumbent government to initiate policy reforms that may restore the dwindling trust of investors of this country by controlling inflation, increasing people’s purchasing power and building the economy on long term plans.
However, contrary to the need of the hour and depicting the magnitude of inefficiency and non-seriousness in handling the already exacerbated situation, the ruling alliance first opted for the policy decisions that were only politically correct, and later,
exhibited a hassle that added to the economic vows making almost every financial institution vulnerable.
In a recent such move, the incumbent ruling alliance has decided to set/fluctuate the POL prices on weekly basis, adding to the already rife uncertainty in the country. As expected, the business circles in the country have rejected this decision on part
of the government regarding it an anti-economic move.
Although the government is trying to project only the positive sides of this decision, claiming that not only the hike in POL prices in the international markets will be transferred to the users, but the gains of a depreciating market will also be shared
with the end users. But considering the negative impact of this decision on the overall psyche of the business class, one can only regard it as a disaster in the making which will not only drain out any remaining confidence of the investors in this country,
but will also add to the vows of the masses by constantly feeding to the already unbridled stagflation in the country.
Short URL: https://www.newspakistan.pk/?p=31214
Posted by Fayyaz Yaseen
on Aug 18 2012. Filed under Opinion, Pakistan.
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