Economics & Business

Privatization, foreign investments are biggest illusions of the century

ISLAMABAD: Former Secretary General and Minister of State Akram Zaki said on Tuesday privatization and foreign investments are the biggest illusions of the century, it should be banned immediately. He said that we crossed all limits of self-deception and put the future of the country at stake due to dictated policies and imported rulers. Tall claims and dual standards will never help satisfy masses or change the fate of the country.

Akram Zaki said this while speaking at a meeting. He said that government should immediately ban foreign investment in existing ventures and allow it in the new projects, if necessary. Foreign investors view Pakistan as hard area and steps in with one aim; to generate maximum profits in minimum time and go back. They have no interest in infrastructure development. We should know deceit behind their sweet words.

He said that privatization spree has endangered national security and sovereignty. Golden handshakes have contributed to unemployment, crimes and poverty. Privatized entities have stopped providing services to rural areas. Entire focus has been shifted on urban centers which is hurting the fabric of society.

The former Secretary General regretted that out government has never tried to know the consequences of privatization. PPP initiated nationalization and now the very same party is bursting all its cylinders to sell everything we have.

At this occasion Dr. Murtaza Mughal, President, Pakistan Economy Watch said record shows that privatization has never improved working of any unit in Pakistan. It has only changed faces and contributed towards miseries.

Foreign experts are a serious threat to national security and economy, he opined. “A country will never send good experts to other country,” he said adding that we only receive trash in the name of experts who eat up major chunk of loans while man on the street is over burdened for no crime on his part. “Many countries including China and India progressed by avoiding such experts and Pakistan can have some control over these elements if it cannot resist their appointments, said Dr. Mughal. The past and future of foreign experts belongs to other countries, how can we pin hopes on them.-SANA

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Omer Azam

Omer Azam is Social Media Marketer, very active on propeller; he is very much interested in International Politics.

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