The recent downgrading of Pakistan’s sovereign debts and bonds to junk level Caa1, is a slap on the economic team and politicised corrupt bureaucracy that dominates our policy making corridors and their equally incompetent political masters. This is what happens when policy making is abdicated to dual nationals as they have no stakes in the country since they and their families have long abandoned this country considering it unsuitable to live in.
Everybody in this country talks about the economic revival of Turkey led by educated and highly qualified politicians with integrity, who understand that the world they live in requires specialists in the field of economics, technology, sciences and arts, not just henchmen surrounded by cronies and sycophants. In USA, a semi-literate Reagan was considered to be one of the most successful heads of state, because he understood his limitations and chose the best qualified team of devoted Americans to decide policy matters. Pakistani politics, unfortunately, is dominated by nouveau rich men eager to act like feudal lords, having no democratic tolerance for dissent, or the capacity to accept their need to rely on expert advice on matters in which they are neither qualified, nor experienced.
While education is not a necessary requirement in politics, the capacity of an individual to assess his limitations and capabilities is. National economies are not like family businesses run by MBAs or accountants looking for short term gains irrespective of the disastrous long term impacts they may leave. There is no dearth of qualified Pakistanis with total commitment, but it is the lack of political will of the ruling establishment to utilise the best talent available in the country, to make Pakistan a self sustaining economy, that has brought us to this state where Moody has downgraded us to a level below even Namibia, Nepal or Ghana.
ANEELA CHANDIO
Sukkur
