Tag Archive: Economy


There was a post in this blog forewarning the nation about a couple of national Titanics who were waiting in the wings to sink the entire economy. Pakistan Steel has already got the bail-out package but it has yet to be bailed out unless the more hefty package is announced. The amount of money that the Government has so far doled out to bail this white elephant out was sufficient to build another Steel Mills of the same size.

The other one of these Titanics is Pakistan’s national flag-carrier which was previously great people to fly with when it was making money but later converted to come fly with us when it started making losses. It is living on the blood of common Pakistanis who may not have even seen an aircraft. It has now been reported that Pakistan International Airlines (PIA) has asked the government to approve a financial support package to ensure sustainability of the national airline. This emerged during the 326th Board of Directors meeting which was held at the carrier’s office in Lahore. Express Tribune has reported that the plan will be presented to the federal government for approval after a few adjustments desired by the board are included in the proposal.

The board also urged the government to review the aviation policy to make it more equitable for all stakeholders. A level playing field for Pakistani airlines was demanded. Directors also agreed that shareholders’ support in the form of equity injection is vital for a sustainable turnaround. The equity is hard-earned income of not the directors but common Pakistanis who have the misfortune of being owners of the airlines but who can not ask a simple question; why should we pay for your inefficiency?

In order to cater the shortage of pilots for various aircraft, it was decided that the airline would give an option to those pilots who had reached the retirement age of 60 years to rejoin on contract basis. After the air crash of Air Blue, will it be wise to let over-aged pilots to fly the planes? The Civil Aviation Authority (CAA) of Pakistan has already allowed pilots to fly up to the age of 62 years.

The meeting was chaired by Defense Minister Chaudhry Ahmed Mukhtar who has no clue to as to what an airline business is. He is the same gentleman who being the Defense Minister had given a brilliant opinion about drones: drones do not take off from Pakistani bases, these only land there.

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This is in continuation of the post: Before you grumble……posted in this Blog. No doubt, economic resources along with natural resources play a significant role in making a country rich or poor but the role played by some of the human resource can not be ignored. It is, in fact a few at the helm of the economy and management of these resources who alone can make or break any economy. If the leaders are bulldozers, they can make you poor and yet scream at the top of their voice that their lives are dedicated to the poor.

These lives are dedicated to the poor to the extent of winning their votes; in a country like Pakistan, a person for a politician is not more than a mere ballot paper, a parchee which can make a difference at the time of elections. A rather interesting situation has been reported by US magazine, The Time in its current edition about the state of New Jersey where according to the magazine, taxes are high, the budget’s a mess, government is inefficiently organized, and the public pension fund is blown to kingdom come. Which makes New Jersey a lot like most other states in 2010.

What makes the state unusual is its rookie governor, a human bulldozer named Chris Christie, who vowed to lead like a one-termer and is keeping his promise with brio. He has proposed chopping $11 billion from the state’s budget — more than a quarter of the total — for fiscal year 2011 (which starts July 1). He’s backing a constitutional cap on property taxes in hopes of pushing the state’s myriad villages and townships to merge into more efficient units. He’s locked in an ultimate cage match with the New Jersey teachers’ union. It may be the bitterest political fight in the country — and that’s saying something this year. A union official recently circulated a humorous prayer with a punch line asking God to kill Christie. You know, New Jersey humor. And in an interview with the Wall Street Journal, Christie didn’t talk about the possibility that his fiscal initiatives might be compromised or defeated; he pictured himself “lying dead on State Street in Trenton,” the state capital. Presumably that was a figure of speech.

Are you surprised? Don’t you think New Jersey is just another province of the Fatherland? The politicians don’t see to realize that its economy and they just can’t play with it like they play politics. By the way, politics in this part of the world is synonymous with intrigues, scheming, cheating and plundering.