Elite capture

Now international lenders, who in the past avoided air­ing their views on the Pakistani economy, are openly calling a spade a spade. The IMF represen­tatives continue to repeat their re­solve in public that the Pakistani government(s) should tax untaxed sectors. The World Bank country director was more candid while passing scathing comments about powerful vested interests, includ­ing the military and political elite, not allowing reforms.

One reason that lenders and do­nors are openly making their res­ervations public is that they have been highly criticized by the me­dia, and a public perception has been developed that the present pathetic plight of common Paki­stanis is due to the policies of the IMF and World Bank. Thus, these institutions are fed up with the non-compliance of the agreements by various governments.

The legislative and execu­tive branches are dominated by big landholders, owners of sug­ar mills, and big businesses. Then how would these vested inter­ests take action to tax themselves? These elites have always received largesse; they are not made to give. They have no stake or interest in the Pakistani economy; the ruling elites have very assiduously moved money and built assets abroad that neither they nor their coming gen­erations need to worry about.

The elite capture is pushing the economy and the common people to the precipice.

GULSHER PANHWER

JOHI