Daily Times

The present regime is passing through a very hard time by inheriting an economy in complete shambles. The opposition’s anti-government propaganda has sent a wave of despondency across the country which has gripped all classes and people. Despite PM’s assurance to steer the country from its present mess, if he is given time to let his present reforms take effect, the unrest due to the unprecedented fall of rupee against dollar and its future consequences does not seem to go.

Since its coming into power, the PTI has been through several ups and downs and met many bumps and U-turns. In their euphoria for becoming quickly popular, measures like converting traditional residences of the ruling government functionaries into public places, and putting the entire fleet of expensive government vehicles to auction were ordered rather in post haste, more to symbolically herald a government committed for change than as a measure of any sound economic judgment.

All through their election campaign, Imran Khan and his team could not evaluate the true state of the economy and had openly vowed in public not to go to the IMF with a begging bowl. But then they very soon cut the embarrassment, and invoked IMF’s aid. They had also met with disappointment when their speculative sources of foreign aid declined to help them on their terms. Similarly on the executive side some of their decisions like the appointment of CM Punjab, and premature removal of its chief secretary attracted much criticism and ridicule by the public. These were all initial shocks which this regime suffered due to their political immaturity and lack of vision. But these weaknesses are by no means symptomatic of the government’s lack of ability or will to tackle the apparently insurmountable problems facing the country.

The present woes of the country are not of its making, but is the unfortunate legacy left over by several years of past ruler’s corruption and mis-governance, which is not an easy task to clear up. A prudent analysis of the present problems shows that with the requisite honesty of purpose and firm determination to turn the tide, the government of Imran khan needs at least three years to put the economy on an even keel. And in all fairness, this much time must be allowed to them in view of the magnitude of the problems faced by the country.

Despite some of his temperamental weaknesses and eccentricities Imran Khan is the only man capable of good governance which would be transparent and merit driven. In view of his strong pledge made to the nation, it can be expected that he is also capable of bringing back the looted wealth

The thing which kindles hope for a better future is that the General Elections of 2018, has for the first time in our history thrown up a leader whose financial integrity is above board and his personal life is manifestly greedless. Honesty, patriotism and an un-swerving determination are the weapons of Imran Khan, which he has displayed all his life and about which no one can question him. Integrity is a virtue which is not commonly found in leadership. What we need most in our leaders today is their financial integrity. Warren Buffet who is the most successful entrepreneur of our time has observed that, “In looking for people to hire, you look for three qualities: integrity, intelligence, and energy. And, if they don’t have the first, the other two will kill you.” Our own history shows that we have met our present fate only because our rulers lacked financial integrity. Imran Khan has started his crusade against corruption by putting the elimination of money-laundering as the cardinal point of his agenda.

Money laundering is the method used for transferring money earned through clandestine means to or from a foreign land without paying the tax applicable on the transferred amount. It can also be defined as converting illicit monetary assets into legitimate possessions.

According to a report, Pakistan loses $10bn a year to money laundering. Though Pakistan has improved its ranking in the global Anti-Money Laundering (AML) and Terrorists Financing index, but is still on the list of countries that have a significant risk of AML and TF, according to the Basel AML report 2018, released on October 9. Earlier substantial amendments in the Anti Money Laundering Act of 2010, had been made to check suspicious accounts by specifying the role of different government departments, and banks for checking movement of illegal funds through the financial system. But practically no steps had been taken by the previous regimes to check the flight of capital. Butunder this regime serious efforts have been made put them into practice. The FIA is carrying out investigation against 32 suspects in the first phase while it plans to extend the scope of probe to 400 people. MOUs to check money laundering have been signed with UK and UAE.

His first 50 days rule is not without substantial achievement in the domestic front. He has formally launched the ‘5 Million Housing Project’ for which the registration process has already commenced. The NAB felt encouraged by the prevailing environment of purging the corrupt mafia has redoubled its campaign against corrupt politicians and has fearlessly taken action against people who seemed to be immune from accountability in the past. 87,000 kanals of land has been recovered from Islamabad and Lahore. A 10 billion tree plantation project has been initiated. A vigorous anti encroachment movement has been launched in all districts. Millions have been saved through austerity drive.

Despite some of his temperamental weaknesses and eccentricities Imran Khan is the only man capable of good governance which would be transparent and merit driven. In view of his strong pledge made to the nation, it can be expected that he is also capable of bringing back the looted wealth. He has no lust for money and is therefore the right person to lead this nation out of the morass of stinking corruption.

The writer is a former member of the Provincial Civil Service and is currently a freelance writer

Published in Daily Times, October 22^nd 2018.