Govt performance poor despite record borrowing
ISLAMABAD: Leader of the business community and former President ICCI Shahid Rasheed Butt on Sunday said masses and the business community are living in continued stress due poor performance of the government has eroded its popularity.
The government has borrowed $29.2 billion during the last two years but has failed to deliver while $15 billion will be borrowed during the current fiscal setting a new record, he said.
Shahid Rasheed Butt said that repeated crises, uncontrolled inflation, scarcity of essential basic services, substandard quality of education, sanitation and healthcare, weak economic growth and the mounting national debt has resulted in popular frustration.
He said that a large slide of the rupee has left our currency inferior in value to many other developing countries including Afghanistan and Bhutan, which has irritated masses who are questioning the wisdom behind such policies.
The government is aware that it has disappointed masses and now it is struggling to regain lost ground with the help of symbolic and fancy projects that will not help it in any way, he added.
Pakistan does not need new cities, parks, artificial lakes, business centers and other fancy projects costing tens of billions but full attention on the agriculture sector so that masses can get wheat flour and other edibles at reasonable prices, he noted.
The agriculture sector is in need of focus and resources as well as a long-term commitment as rising commodity production can help steer the country out of economic crises.
The business leader said that creating landmarks would not benefit commoners; therefore, the government should rethink its flawed strategy as the country is already facing significant debt.
Pakistan has one of the world’s worst performing energy and tax collection system that will never allow the country to progress and keep it dependent on loans and grants, he said.
He noted that opposition is happy with the popular disappointment among masses which is lending it the political advantage it desperately needs.