We are finally there: a new government in place. Yet it is not making its life easy due to some of its appointments, especially the new Punjab CM. With a large vocal opposition, an army of analysts nitpicking every move and people’s expectations at fever pitch, governing will not be easy.

What the future bodes for ‘New Pakistan’ is somewhat problematic; especially when one considers that the existing system is designed with defined loopholes to encourage corruption. Take for instance the case of prize bonds. The other day a small prize bond, lying ignored for years, somehow came to notice. Looking up the number, unexpectedly it was listed for a prize. Since the prize bonds were originally issued in the name of one’s mother, she had to be taken to the State Bank of Pakistan. Getting to the building on The Mall is an ordeal.

In attempting to avoid the traffic on The Mall, we went through Ferozpur Road. A mistake: from turning onto Fane Road you are assailed by members of the legal fraternity and those seeking their services. Parking, legal, is only available in a couple of vacant lots. Approaching the bank on foot you are hailed by all manner of shady characters willing to cash your bond and even pay you a premium. Feeling superior and telling them that in this manner there will be no possibility of a ‘new Pakistan’, you enter the bank. You are given forms to fill out, which require your bank account details, since all money is now directly transferred to your account, instead of the usual pay orders. Most people it seems are not aware of this and do not have their bank account details. These and required photocopies of various documents send you scrambling outside. Finally, with all requirements completed and after a long wait in a queue you reach the teller. With haughty indifference she tells you that you have to open a new account since joint accounts and those in Islamic banks are not allowed. Upon enquiry as to why Islamic banks, a growing and popular part of the bank industry, she tells you that’s how it is.

Leaving the bank in disgust, the temptation in succumbing to the earlier overtures, by the various dealers, offering cash without nay hassles, is strong. A little shame in encouraging other people to launder their black money through your bonds and depriving the government of its rightful taxes makes you reluctant. Apart from this the greatest hindrance is the self-righteous lecture which you had earlier delivered about change.

As far as one understands these prize bonds are supposed to encourage people to save, providing a government with much-needed source of financing. If these are issued to individuals with proper identification and if they wish to withdraw their money or prizes, why cannot the process be simplified by paying them through a pay order or cash immediately upon presentation of their identification. Perhaps this would imply a loss of livelihood for the vast underground, parallel system, which exists due to these anomalies in the system – in collusion with bank functionaries or not, one leaves to your imagination.

Talking of banking, another classification by the government for bank customers, filer or non-filers, seems to be rather arbitrary and does not take into account senior citizens or pensioners. Despite having paid all their dues throughout their working lives, here or abroad, they still need to file their income tax returns to be filers. Most do not have a steady income stream, pension or other sources and consequently cannot be filer; which implies that they are penalised for using the banking system with prohibitive deductions at source. It is perhaps simpler for the government to resort to this shortcut rather than attempting to bring the various obvious non-tax filers like traders, under the tax net. Perhaps another day in a newer Pakistan! — (AmLahori@gmail.com)

Published in Dawn, August 20th, 2018