Wednesday, March 10, 2010

Self denial!!

Just today i read in the newspaper how the Prime Minister had portrayed a shockingly rosy picture of our "dismal" economy during the first meeting of the Economic Coordination Committee of the Federal cabinet.He says that, "within a period of two years, important economic targets have been achieved and the economy was back on the path of stability and progress".
What economic targets is he talking about that we have possibly achieved??
p.s(the PM definitly has a good sense of humour):D


  1. I think during the last two years they were able to bring the so-called macro-economic stability. Inflation was controlled. In additon, they have increased monetary outlay for social protection. What else do you expect from a neoliberal economic system? If you think that their performance is not bad but for economic turn around you need to change the role of the state in economic change.

  2. sir i fully agree with that, but a common person could hardly agree with the term, "controlled inflation", when he had to undergo extreme difficulties while purchasing sugar!i mean he had to think twice before purchasing that, provided he found it available in the market which was obviously not the case six months back!
    sir as far as changing the state's role is concerned in economic matters, dont you think thats beyond us??

  3. Mariam I completely agree to what Mr.Zubair said and I am surprised that he speaks my language. He is right about controlling inflation and macro-economic stability, that was the best they could do in the current scenario. The price burden ultimately has to be passed on to the consumer, the only decision they had in hand was now or later. If you read the "neoliberal economic system" part again, you'll get the whole picture.
    And yes the state's role in economic change has to be changed. Individually, this is not possible but collectively it is.

  4. As far as i think the government has failed to achieve any key economic targets in two years... they couldn't solve the sugar crisis, water crisis, dams and hell! the most important energy crisis. i don't know what objectives have been achieved. Another thing that i don't understand is that why i we keep focusing on bringing the inflation down in the economy??? What we need is economic growth and infrastructural improvement. Our economy has been running paractically on debt from the past two decades! well if central bank is still able to pull some trick of it's monetary policy i would say "it's no big deal"...
    Talking about the short-run government has failed in that part too... i won't go into details. I would end with the fact that if "roti" sells for Rs 5/- per piece then our government has not only failed but failed pretty badly!

  5. @nazish;what exactly does "macro economic" stability encompass precisely??i need to understand because i havent experienced anything like sounds all utopic to me!!

  6. To a layman the government has really failed but we the economist look at the things very differently. yes the prices of roti has gone upto Rs.5/ but it has been stable at Rs.5/ for quite some time now, this is what i meant by stability.
    I am not in favor of the current government policies but what I meant was that this is the best that can be achieved within the neo liberal structure and prevailing political situation.
    And yes I agree to whatever you have said about the problems an ordinary person is facing but for that the people will have to step in for themselves. Just feel the responsibility.

  7. i am not much of an economist but as a common person especially as someone runnning a house,i beg to differ with some of your comments regarding controlling inflation.

    what control are we talking about? yes,thank God the government stabilized the roti prices but what about the other products. With each passing day, daily consumption items are gradually falling in the category of a luxury!!!!!! what about the increases in petrol, oil and electricity rates??? Would they somehow miraculously save our ailing economy!!i doubt it...
    yes.i agree when you say that "economists look at the larger picture"! You guys are either complete sold outs or know nothing about economics. Musharraf era at one point in time was considered a sanguine period for our economy,lets take the dollar rate as an indicator,didnt it remain at Rs 68 for over 8 years. By this yard stick the economy should have been flourishing, Right?

    To bring marcoeconomic stability, it is imperative that we root out corruption and embezzlement that is prevalent in all spheres of our life. The current government should do more, i believe the start could with the Government parting away with its ill gotten wealth and assets. With Mr zardari and Mr sharif being in the list of the richest 5 pakistanis, if they could give a fraction of their wealth back to the society,i am positive things will improve.........

  8. Lady you read the economist part and not the one that asked for feeling the responsibility. By just casting one vote after every five years is not enough. The economy and society is asking for a big change. And it is only in the hands of people (us). How much are you ready to give up really matters. Stop looking at others for relief. Step up for self and resist. And it won't be possible individually. try to connect with people who think for a such change. Resistance is only the way out.


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