When the going gets tough - the toughs need help to get going

When the going gets tough - the toughs need help to get going

Exactly 3.5 years ago the then CoAS had met with business community to assure them of better times ahead. Pakistan at that point was also mired with relatively better economic crises. This time, it's different. There is serious threat to economic security.

Pakistan's policy makers while continuing tit for tat until elections have rendered economy at the mercy of sheer luck and imprudent managers. Scores are being settled with occasional outburst of machoism only to learn a humbling lesson. Will we ever learn? Hope so.

Economic wheel of country is severely jammed today as higher commodity prices, astronomical interest rates, non opening of LCs and withdrawal of all subsidies is pushing corporations off the cliff.

How on earth can I pay interest expenses and salaries when I ain't got product to sell - nor masses have purchasing power - as rupee plummets 55% in a year. Don't blame for natural byproducts - corporate defaults and massive layoffs.

It's worse. The elites or genuine investors have now retreated to a risk free point and are contemplating moving capital out of Pakistan. Yes, the salaried class is desperate to "get out" as well. Hence, these meetings are rather humble request to not jam the wheel.

The mayhem will not stop until politicians stop bickering, free and fair elections are held and a protracted IMF program is undertaken to restructure economic inefficiencies. If any of these don't happen, expect an economic meltdown in medium term. What a loss.