PML-N government: Marked by lack of focus
The rupee continues to remain in a state of free fall while the government silently watches the situation. On Wednesday it traded as low as Rs 109 against the US dollar in the open market. Some of the experts maintained that the government was doing little to shore up the nose-diving rupee and the consequences could be dire for the economy. The country being dependent on vital imports, as their prices shoot up, it would impact the price of virtually every commodity used by the common man. This would hit not only the poorer sections of society but also the middle class. The prices of various commodities have already increased between 10 to 15 per cent percent in the first 90 days of the present dispensation. With the current rate of increase these are likely to double within a year. Over the last five years the growth has hovered around 3.0 per cent. It is feared that with the present of IMF-driven, growth-choking policies it might remain at the same level for another five years. This would affect job creation, while the huge pool of the young and restless unemployed is still looking for opportunities ever more are bound to be added to the horde, fanning social unrest. After clearing over Rs562 billion circular debt through cash payments, bonds and book adjustments, the government is not out of the woods yet as Rs130 billion have again accumulated in only three months.
The government has issued advertisements for vacant positions of CEOs for about 40 state-run enterprises, including the PIA, PSO, PSM, WAPDA, PPL and OGDC. Unless these organizations have permanent heads they cannot function properly. When would these posts be filled? There is yet no decision with regard to the privatisation of state enterprises that are bleeding the economy white. A package of Rs2.9 billion was approved for Pakistan Steel to disburse the payments for the last two months to the employees. Ad hoc measures of the sort cannot deliver.
Despite the holding of the APC on terrorism, things remain as they were. One day the country is told that the government and the nation was unable to proceed any further on the proposed dialogue with the Taliban and that the space for talks with the militants was shrinking, the other day there are assertions of being firm on holding talks. The militants meanwhile continue to launch attacks single-mindedly, the latest on the under construction Mohmand dam killing the contractor and two others. Nawaz Sharif had believed that the impressive election victory will give him a chance to improve the economy, create jobs, end power and gas outages, inflation and bad governance. As things stand there seems to be a loss of focus. The most worrisome aspect of the affair is that few are available to explain or defend the government’s policies as most of the ministers are generally absent from the NA sessions.
