Economics & Business

Foreign trips, princely expenditure tarnishing govt’s image

Islamabad: Pakistan Economy Watch has said that government should stop counter productive foreign trips and princely expenditures as it is loosing confidence of masses and tarnishing its own image. A number of foreign trips of top leaders with hundreds of members of entourage is costing public exchequer heavily. What Pakistan is getting in return is sweet words and promises only. Leaders seem loosing ground back home.

Besides global economic turmoil, political uncertainty at home and our track record of massive economic mismanagement, there is something very wrong which is forcing friends to turn their backs on our repeated requests, said Dr. Murtaza Mughal, President, Pakistan Economy Watch.

Government is avoiding revolutionary measures to avoid default and relying on IMF which has not contributed towards development of any country since its inception.

Around seventy per cent of total loan acquired so far by Pakistan is believed to channeled back to Dubai, Malaysia and US banks via pockets of politicians and important bureaucrats, it is believed. However, masses are always asked for sacrifices that have never benefited from these borrowings.

Government should avoid princely expenditures otherwise our delegations may not be welcomed anywhere in future, said Dr. Murtaza Mughal. Government should not try to break record of former prime minister and president who tried to make a century of foreign tours wasting billions of rupees.

Top political leaders joined hands and uprooted dictatorship but now they are acting in a strange manner creating problems for themselves and loosing trust of masses.Government says they have no option but to swallow bitter pill of IMF but fact is that we have some other workable options which are being neglected due to some reasons.- Pak Economy Watch

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Noreen Gill

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