Karachi Pakistan – The government has mortgaged its independence, authority, and sovereignty to the dictates of IMF. Every economic decision, especially difficult ones, are attributed to the conditionalities of IMF.
That is the usual mantra of all governments. IMF, IMF, IMF.
The unbridled inflation is a manifestation of the abdication of government’s writ.
The frequency of increase in power rates has created a vicious circle engulfing all sectors.
There are the usual protests, dharnas, blocking of roads, burning of tyres, and ransacking offices of the electricity providing companies.
As yet, the business community has restrained from these protests, barring a few isolated incidents. The business leaders issue diluted press releases and take up the issue by inviting the concerned persons to meet the members. After few hard-hitting speeches, the meetings end with presentation of plaques and bouquets and posing for traditional photo sessions.
However, the water has gone over the bridge. It is high time the over 200 Chambers and Associations convene a Convention, chalk out the strategy, pledge to be united, and then give a final call to the government that enough is enough.
This would give a rational excuse to the government to tell IMF that it would not be possible for people in corridors of power to alienate the private sector.
Of course, there would be some Chambers or Associations who would not want to take a tough stand because their leaders are meek or because they are averse to the idea of any confrontation. These leaders also do not want to upset their own apple cart. But then they do not matter if a large majority of these trade bodies are on same page.
This is one pragmatic solution. Just shoving the serious issue under the carpet would give impetus to the government to carry on with the rate increases.
The ball is in the court of the business leaders. It is now or never. Alternatively, if they cannot stand the heat, they should get out of the kitchen. Private Sector should not demand their rights; they should snatch their rights.
By ; (Majyd Aziz) Former President KCCI.
