Daily Times

Finally the United Nations Development Program (UNDP) has quantified and put a monetary value on what is already almost universally known; that numerous economic privileges are accorded to the powerful elite in Pakistan and they run up to an estimated $1.74 billion or about six percent of the national economy. It turns out, according to the UN’s findings, that the corporate sector, feudal landlords, the political class, and the military eat up a lion’s share of the country’s resources, and quite unfairly at that.

The report also goes on to mention that since a lot of these groups have direct representation or influence in parliament, it is very easy for them to frame laws that suit their own interests and so the cycle of a few living off the rights of the many continues without much checks or interruptions. It says a lot that the richest one percent of the country’s population collectively ‘owns’ approximately nine percent of the overall national income while the poorest one percent hold just about 0.15 percent of it. Since this disparity is now institutional and backed by legislation in parliament, it presents a problem that no political party has yet had even the inclination to overcome.

It’s no surprise then that the economic spectrum is so obviously skewed in favour of the extremely rich. The corporate sector seems to have it best, even better than feudal lords or politicians that have been known to dominate the social as well as political landscape. And it’s simply too much to expect anything to change anytime soon. The UNDP representative held talks with the most senior politicians of the country, including the prime minister and members of his cabinet, and everybody seemed willing to correct this situation; at least for appearance’s sake. But that is clearly easier said than done when all political parties, the ruling party included, have the same kind of feudal lords and industrial barons that are responsible for this aberration. This also explains why the country has become so addicted to debt. When six percent of national income goes to satisfying the rich upper class’s thirst for power and privileges, and very large debt repayment and defence bills are already factored into the annual budget, there’s obviously very little left for the bulk of the population and all sorts of development work quite naturally takes a back seat. Until this country and those who rule it realise this anomaly and do something to correct it, no manner of bailout programs or so-called progressive budget making, even by dynamic and young finance ministers, will produce the kind of results that are needed to snap out of the cycle of low growth and high expenditure.

Clearly we know our biggest problems. But can we do what it takes to solve them?