HYDERABAD: Former federal finance minister and Awam Pakistan Party leader Miftah Ismail has said that reforming Pakistan under the current system is impossible because a complete overhaul of the system is essential and only one per cent elite class enjoys the entire resources of the country.

It was crucial to strengthen businesses and uplift the middle class to make Pakistan prosperous and stable, he said while addressing members of the Hyderabad Chamber of Small Traders and Small Industry on Sunday.

Criticising the government for buying LNG at $7-$8 and selling it at $14, he said that even then it failed to end loadshedding due to the flawed system. All the institutions were embroiled in blame games instead of addressing necessary reforms.

Miftah pointed out that of 486,000 schools, only a few institutions funnelled individuals to bureaucratic and judicial positions, essentially controlling the Pakistan’s decision-making process.

He said that flaws in policies imposed a 38.5pc tax on salaried individuals and 49.5pc on traders and industrialists, which was a collection approach that was entirely unworkable.

He proposed that power should be decentralised to the district level, enabling the district and divisional administrations to have authority over education, health, and law enforcement. While the global powers could not afford Pakistan to default, reliance on the IMF assistance might prevent the default but not drive development. For growth, he said, systemic change and comprehensive reforms were imperative.

The acting president of the chamber, Ahmad Idrees Chohan, emphasised the need for immediate actions to stabilise Pakistan’s economy. Noting that rising electricity and fuel costs were impacting industries, he called for resolution of energy issues, along with a review of IPP agreements. He urged the government to simplify tax system to facilitate small businesses and the small and medium enterprises (SMEs).

He highlighted the importance of stabilising rupee, controlling inflation through strong financial policies, and implementing trade policies that enhance exports and open access to international markets. He advocated for low-interest loans for the SMEs, upgrading infrastructure and fostering public-private sector partnerships.

He said institutional refo­rms, eradication of corruption and digitisation of business facilities to ease payments for freelancers and other enterprises were needed to ensure transparency.

Former chamber presidents Farooq Shaikhani and Saleemuddin Qureshi, and conveners, members executive committee and general body were present on the occasion.

Press conference

Earlier, speaking at a press conference with party leaders at the local press club, Mr Ismail said that no prime minister had completed his term to date and feared that the present government would not complete it.

He said present politics of the Pakistan Muslim League-Nawaz (PML-N) was not the one which the party was known for. He said the PML-N had given up its manifesto. Had Nawaz Sharif declared on Feb 9 that he didn’t won elections, Pakistan’s situation would have been different, he observed.

He accused the PPP of destroying Sindh which it was ruling since 2008. He said the Peoples Party got vote after every five years, but it failed to perform. He said CM’s constituency did not have even a single park. Nothing should be done through ordinance as far as water projects were concerned, he said.

He observed that 26th Amendment had made judiciary subservient to parliament and added that the present system would have to be uprooted to change Pakistan’s destiny.

He asserted that the way the PPP and MQM got seats in Karachi was an open secret and said the Muttahida had been washed way from Kara­chi. He stated the present government had taxed everything except for graveyards.

He opined that when Saqib Nisar ousted Nawaz Sharif, he surpassed the constitution, but when Imran Khan was denied party symbol, it was an extra constitutional act also. Those judges were needed who delivered justice as per the constitution and law, he said.

Published in Dawn, October 28th, 2024