The country’s flawed economic model won’t last long

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ISLAMABAD, JUNE 2: Pakistan Economy Watch (PEW) said on Thursday that the country’s governance and economic model is a combination of flaws and contradictions that will not last long.

The current governance system is broken and it is the mother of all evil, so it must be changed, he said.

There is no concept of economic justice in Pakistan that constantly weakens the country, said Dr. Murtaza Mughal, President of PEW.

In a statement released here today, he said investment in sectors like education and health is very low in the country, while no social sector is performing well.

He said lingering debts, weak governance, lack of political stability, unsatisfactory law and order situation, crumbling judiciary, inefficient tax system, corruption and poor accountability have plagued the country.

Dr Murtaza Mughal said the country’s foundations were shaking, calling for urgent drastic measures to save it.

He said the system serves the elite and their power and resources are increasing rapidly while a commoner’s life has become a living hell.

The system protects the elite and the country has been run a certain way for decades leading to brain drain and capital flight.

Many industries have also shifted to other countries as investors are unwilling to invest in Pakistan despite unparalleled tax benefits.

He said that as long as the important issues in the country are under the full control of independent people, there will be no rule of law.

The system of justice and accountability can work when institutions are allowed to be independent, otherwise the country will have no future, he warned.

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