Govt. leaves legacy of incompetence, corruption

March 17, 2013 Off By Web Desk

Islamabad: The Islamabad Women’s Chamber of Commerce and Industry IWCCI said on Sunday that the democratic government has left a legacy of massive corruption and incompetence pushing country and masses into total gloom.

Those who take politics as a lucrative business secured their future through plunder while leaving 180 million people insecure, said Farida Rashid, President IWCCI. Speaking to business community, she said that last five years would be remembered as a black chapter in the history of Pakistan.

The government made new records of incompetence, corruption, nepotism, lawlessness, bulldozing laws and clash of the institutions, she added. Farida Rashid said that most of the economic, fiscal, foreign and internal policies of the government met with failure while Pakistan faced international disgrace on various occasions.

Government continued to plunder national resources during five years but made a history of loot during its last few days, she observed. She said that almost all the policies were made to please nobility which took toll on Public Sector Enterprises PSEs, rupee lost value, record loans were borrowed while collections and forex reserved dwindled.

Farida said that oil and gas exploration was systematically discouraged to justify import of costly fuel for which the CNG sector was also destroyed. Government took around Rs 2.7 trillion loans from international lenders out of which 2.3 trillion were used to finance politically run Public Sector Enterprises but none could come out of losses to become profitable entity.

Unprecedented corruption estimated at Rs 1800 billion, shook the foundations of the country and put its very survival. Masses must learn a lesson as Pakistan cannot afford another round of such democracy, observed Farida Rashid.