Layoffs and Economy in Disarray

It’s with deep sorrow that we announce a layoffs of 20% highly skilled manpower in the backdrop of poor governmental policies with regards to businesses.

The government seems to be more interested in pursuing IMF loans and aid to run the country rather than focusing on the development of the economy.

The businesses are left at the mercy of bureaucrats and govt officials who do not have any other interest than appeasing the IMF to secure more and more loans which are debt traps for any country.

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The focus remains on getting short term relief rather than improving the overall economy.

We fell in the trap and brought in the foreign investment but to no avail as our investment in aircraft like any other business was given no importance and they remain grounded and at the mercy of a few.

The layoffs will continue in the coming months as we see the businesses dying in the near future.

The economy grows as the small and medium businesses grow since they create jobs and broaden the tax net but they have no priority in the country as an uneducated lot governs.

Governance is the key factor in improving the economy but the interests of the short sighted governments are just for securing loans which is evident from growing debts to run the helm of affairs.

We have tried it for years to improve upon the policies for Aviation Sector thru the parliament but bureaucrats have always stalled them for their own vested interests.

The matters were brought in the knowledge of SIFC also but bureaucrats have tricked them as well.

A white paper on the failures of the aviation industry was written but it also fell on deaf ears, finally the Aviation Industry has reached a level that it is collapsing and will take years to recover.

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It’s the overall deterioration of the economy that is reflected everywhere and corruption and poor governance is responsible.

You seldom get justice from the courts of law of Pakistan and legal matters continue for generations as they also serve the vested interest of a few.

Investors are driven away if the justice system is poor and unjust.

The stock exchange in Pakistan does not reflect the true picture of the economy as it’s being manipulated by a few for accumulating more and more wealth and they will leave the small investors in disarray soon and it is a total scam.

Trade wars present an opportunity for the developing nations but only those who are sensible and educated enough will take the advantage and our poor understanding of the economy will leave us further behind.

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Counter measures.

Bring in the educated and technocrats and get the policies revised in each sector.
Stop imports and ban luxury imports forever.
Allow Tariff Free raw material imports to kick start the industries and head towards self reliance and increase exports.
Learn to live within the confinements of the borders, urgently introduce technology in the agricultural sector to increase production.
Stop interfering and letting others interfere in our world.
Fix the education and health system. Sounds bookish. Need 10 years to a generation to revive and long term consistent policies are needed.
The Justice system revamping as the present system has failed.
Population growth is exploding and needs to be checked with various measures and incentives.
Develop basic infrastructure (Road, Rail and Air )for communication.
Educate the “CREAME” of the nation that common people are customers (Tax Payers) of the government and not their subjects so that they should not act as their masters. Extreme measures are needed to fix this.
Extraordinary situations require extraordinary measures, do the legislation and adopt Crypto Currency, it can change the dynamics more quickly than thought.
Allow trade in Crypto-Currency to reduce pressure on scarce dollars. It will increase the value of our currency exponentially which will reduce the foreign debts and control inflation.
Revive Kaikra 1 oil project by finding other means as we have a big oil sump in the sea which is not being explored.
Valuable minerals are being wasted and are unexplored, make a policy so that national exchequer benefits rather than a few.
Bring interest rates in negative so the money flows in the businesses.