Article Type

Article

Description

Governance under a democratic dispensation has been under attack in Pakistan. The yearning for a messiah or strong authoritarian leader who can fix the ‘mess’ created by the democratically elected leaders remains quite strong. The frequent transitions from the elected governments to the military government and vice-versa have created political instability and uncertainty and we have not learnt the lessons. Political uncertainty leads to a wait-and-see attitude on the part of investors. Lack of investment – both domestic and foreign – retards the pace of economic growth. Low growth rates result in high open unemployment and rise in poverty. Furthermore, if the gains of even this modest growth are concentrated in the hands of a narrow privileged elite the noise level becomes more shrill. The consequential collapse in demand discourages investment in capacity utilization or new assets.

Publication Source

Blue chip : the business people's magazine

Publication Date

7-6-2015

Pages

1-6

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