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Not all is well with economy

Not all is well with economy

As the spell of politically charged atmosphere continues, all the politicians from the government and the opposition parties are speaking different languages to further confuse the nation. The defiance of the former prime minister, who had once vigorously supported the independence of the judiciary, has been adding insult to injury. Even if for arguments sake the ouster was a result of specific circumstances, the respect of the judiciary needs to be maintained in any case. The ousted prime minister has now filed review petitions, a job which should have been his first priority after the announcement of the verdict. Instead, he embarked on a controversial long march and issued provocative statements all along the way from Islamabad to Lahore to increase the tension. The Supreme Court verdict has exposed the politicians in the eyes of the public that maturity is still very far from them. They still cannot think beyond the limits of their vested interests and have no patience to wait until the general elections which are only a few months away.

The political turmoil is seriously affecting the economic performance of the country, and it can further cut the growth rate of the gross domestic product to its size. The All Pakistan Business Forum has feared the economic fallout of the political uncertainty, if it is allowed to continue for an extended period of time. The economic growth is correlative with political stability but sanity is slipping away from the minds of the politicians. A country cannot make progress when the government institutions chose to walk in different directions and so-called public representatives try to infuse a sense of defiance in the public psychology.

Pakistan is bound to make progress once political instability is restored. The country has achieved central stage in the regional economy but political turmoil and adventurism could block the entry of large-scale foreign investments. Had the former prime minister accepted the Supreme Court decision wholeheartedly, it would have raised his respect and political stature in the eyes of the public. Now when part of the public representatives will be busy in the judicial proceedings, it will definitely affect the decision-making process of the government officials. If the politicians are really well wishers of the nation, they should avoid playing the politics of confrontation.