Re: Crescent Bay finaly ready to launch a $3 billion project
actually steel mills deecision was completely non-sensical from financial and economic viewpoint. what made the decison more scary was that x-cj was clueless about economic issues and yet he was acting as the ultimate arbiter of economic policy which is responsibilty of govt and not the supreme court. obviously judges everywhere are not economic experts so they rely on testimony of independen experts such as accounting firms etc. x-cj otoh did not care about economic well being of pak and instead was taking decisions to gain cheap political support. privatisation is opposed by vocal and powerful vested interests and x-cj though he could increase his support base by ruling against privatisation. ultimately because of the x-cj, all large scale investments were under threat because investors were afraid that their investments would be stopped as a result of political vandetta by the supreme court. with that threat removed, investment environment has become much more condusive.
Thief justice was ignoramus for sure. However he is just another show-shaw-list (socialist) activists among many in Pakistan. ZAB and Dr. Mahboobulhaq were the granddaddies of them all show-shaw-lists.
These show-shaw-lists loath economic revival at the grave cost to the country's future.
Their pitiful minds have kept Pakistan chained to 200 years old obsolete economic policies that have brought so much misery to the common folks. Even in Steel Mills case, our government is spending hard earned tax payers money to keep 1000s employed in a highly inefficient and old mill. This obsolete mill on the other hand is begging for upgrades.
Tell you an example that you may be understand more easily. This thief justice forced us to continue using a 1980s Apple II while the rest of the world has moved on using Macs with the latest OS.