CHITRAL: The country is threatened with bankruptcy due to the authorized unrealistic overhead government spendings. The damage done by unleashed spending by the government in the form of visible and hidden lavish perks/privileges of it’s functionaries from top to bottom counts even more than the underhand corruption. Considering the government treasury as a war booty and blowing it away in the form of visible and hidden perks to government functionaries including armed forces, deals a big blow to the public exchequer.
These days there is much hype about large foreign investment coming into the country in near future. It is a pity that our rulers brag about it as if they are earning it personally. Any amount of foreign investment/aid will fall short of catering for our lavish spending on overheads by the government.
Some critics say that reducing government spending and bringing austerity will not make much difference, which is totally wrong, and this false perception is spread by the bureaucracy which actually rules from behind their desks. The savings that can be brought about by abolishing free petrol, electricity, big and many vehicles, bloated overstaffing, and enforcing fuel and electricity rationing can save enough money to pay back the IMF loans, expert economists opine.
As imposing austerity emergency affects the rulers themselves and is vehemently opposed by the bureaucracy as mentioned earlier, they don’t talk about it and instead beat about the bush showing lollipops of outside aid funds.
The present Afghan model is a gleaming example of what austerity can do. A war battered Afghanistan is economically much healthier than us. Their currency is four times stronger than Pakistan because their rulers use plastic chairs and tables for official conferences and ride in rickshaws to the Presidency compared to the shamefully opulent style of our rulers.
When rulers don’t feel for the people to the extent that they after putting the country in trouble due to their continued excesses, are not even ready to relinquish luxuries, let alone bear slightest hardship, the country will surely descend into the abyss of miscarriage. God save Pakistan from further putrefaction .. CN report,