Pakistan is passing through the most difficult time in history. The financial crisis is so deep that the government does not even have enough cash to repay foreign debts. The people of Pakistan are facing acute kinds of price hikes in electricity and petroleum. The Pakistani rupee has depreciated to that level that it stands lowest in the region, even the currency of war-trodden Afghanistan is much higher than Pakistani rupee. The US dollar has crossed Rs 300. It is very much likely that in a couple of months the government might have a scarcity of funds for payment of salaries and pension to its present and former employees.
The country has reached to that point that its people now cannot even afford to pay the high cost of energy, i.e electricity, gas and petrol. The development projects are in the doldrums by virtue of lack of funds. The industry is at the verge of dying and the unemployment in the country is at its peak.
The rulers are putting the load of foreign loans from international donors agencies like IMF and world bank on the toughest conditions that are as par with the selling the state for continuing their luxuries lifestyle but unluckily the amount which they take in the name of nation is not actually utilized on the development of the country but it is usually either misappropriated on their extravagance or transferred to the Swiss bank accounts of the people in power
In this entire episode of inflation and fiscal crunch, the common man or middle class of the country, which is considered the backbone of the economy, has been crushed so badly that it raised its hand resulting in the economy of the country limping down.
The downfall of the economy did not occur in a day but it took nearly half a century to collapse. The main reason for the severe disaster is the corruption from lowest to highest level. The corrupt practices prevail everywhere and in each government’s functionary without check and balance, which is taking the economy into its grip like a bloodsucker.
As a matter of fact, the people in power should read the writing on the wall as changing the system is the requirement of the time. Actually the parliamentary form of government is so much expensive system as it gives huge powers to the member of the parliament, embalmed in the addiction of power that they often use unfair means to mint the money as they know that there is no one to check them as most of people sitting in the power corridors adopt dishonest ways to turn out to be wealthiest overnight.
The parliamentary form of the government has completely failed to deliver in Pakistan. It is the juncture to think over the change of this rotten system. Presidential form of the government is almost near to the Islam as well as national behavior.
All the people know this fact very well that changing the system is not an easy job as it takes several years but it is the high time to kick-off the nationwide debate to change the system in the media.
It is the best time when the country is facing the extreme financial watersheds as if we don’t think to change the system at this time, then the people would be abraded in the grinding mill of the deteriorated system.