Let me congratulate PM Gilani, his cabinet, especially his brilliant finance team for giving to the world a perfect blue print of what can be called Controlled Flight Into Economic Collapse or CFIEC (much like something similar in aviation: CFIT-Controlled Flight Into Terrain). This is likely to develop from a theory into a law, provided there is no timely intervention to reverse this project by elements bitten with the loyalty cum integrity and ethics bug.
The main feature of this economic theory are:
(1)Primary environmental requirements are poor governance to cripple the state industry, trade, health and education by denying them cheap electrical power (2) Put unqualified cronies to head state enterprises so that they can bleed them effectively. (3) Ensure that only those who have split loyalties and hold dual nationality or residential status are at helm of affairs especially in FBR, State Bank, NB, NEPRA etc (4) Ensure rapid depreciation of local currency and double domestic and foreign debt in four years so that the country is on verge of default. (5) Create ethnic polarisation so that no effort can be made on a united federal front to create impediments in the scheme of things. (6) Ensure that imports escalate, while exports are drastically reduced by destroying local industry. (7) Allow law and order to deteriorate in major financial hubs like Karachi, Faisalabad, Lahore, Hyderabad, Peshawar and Quetta so that there is no cohesive attempt for economic revival. (8) Destroy all state-run health, education, public transport, roads and alternate power generation development projects by subversive bureaucratic measures and divisive political intrigues such as new provinces. (9) Make sure that flight of capital exceeds the quantum of foreign exchange repatriated by expatriates having already created a wide gap between exports and imports. (10) Destroy and annihilate all accountability systems in place and make all efforts to defy judiciary if it intervenes to create hurdles in attaining the objective of CFIEC.
MALIK TARIQ ALI
Lahore