Re: Legacy of Mard e Momin Zia ul Haq
Its not the state’s responsibility to take over industries, banks etc. We can see how the state has managed the corporations that are in their control now like PIA, railways, WAPDA, Steel mills etc. The problem that exists in Pakistan is that the political governments start appointing corrupt, incompetent people in government held organizations due to nepotism(having links with government officials) who run the exchequer dry by corruption. Almost all of the private sector was taken over by the government, after deregulation we can now see some big industrial empires being created. Even the banks are now working much better and efficiently as compared to before, and it has freed a lot of governments budget and energies which they can use on other stuff if they want to.
The loss of Pakistan railways in a year is 53 billion, steel mills around 18 billion, we have around 400 billion as unpaid dues to the power sector, PIA had loss of over 75 billion as on June 30, 2009. All these big organizations have become white elephants and they eat up a lot of our budget with very few benefits for the people.