KARACHI – The Pakistan Economy Watch (PEW) on Monday said the super rich inflicted more harm than the coronavirus during the last two years.
The coronavirus was a scourge for the poor and the middle class, and a boon for the rich nobility that took advantage of the crisis to fill their coffers, it said.
The epidemic affected the whole world and pushed tens of million of people in poverty while it also increased the declared wealth of one percent super rich by four trillion dollars in one year, said Dr. Murtaza Mughal, President PEW.
The undeclared wealth of the aristocracy may be running into billions of dollars which was earned at the cost of the poor, he added.
He noted that not a single country in the world has tried to curb profiteering by the rich but given them full support to continue plunder.
During the pandemic, governments around the world ignored the poor and the middle class and opened the floodgates for capitalists, widening the gap between rich and poor, he observed.
Dr. Mughal said that the central banks around the world are equally involved in this crime and this is a reason behind that campaign to free these banks from all controls and supervision so that they can work quietly and promote the interests of economic thugs who have sixty-six percent of the world’s resources.
He said that just like a few hundred years ago a plague wiped out one-third of Europe’s population and ended feudalism; the corona virus can possibly destroy the current capitalist economic system which has been increasing the gulf between rich and poor.
