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		<title>The Lost Mandate of Parliament</title>
		<link>http://pegwithgehla.wordpress.com/2010/12/06/judicial-activism-is-not-judicial-dictatorship/</link>
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		<pubDate>Mon, 06 Dec 2010 12:34:37 +0000</pubDate>
		<dc:creator>pegwithgehla</dc:creator>
				<category><![CDATA[Civil Society]]></category>
		<category><![CDATA[Current Affairs]]></category>
		<category><![CDATA[Economy]]></category>
		<category><![CDATA[Judiciary]]></category>
		<category><![CDATA[Pakistan]]></category>
		<category><![CDATA[Religion]]></category>
		<category><![CDATA[Terrorism]]></category>
		<category><![CDATA[Aasia Bi Bi]]></category>
		<category><![CDATA[Blasphemy]]></category>
		<category><![CDATA[Christian persecution]]></category>
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		<category><![CDATA[Dirty Judges]]></category>
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		<description><![CDATA[&#160; The Lahore High Court (LHC) has barred the government from amending the blasphemy law, till the final decision of the court in Asia Bibi’s case. Earlier, in the same matter, Chief Justice Khawaja Muhammad Sharif directed President Asif Ali &#8230; <a href="http://pegwithgehla.wordpress.com/2010/12/06/judicial-activism-is-not-judicial-dictatorship/">Continue reading <span class="meta-nav">&#8594;</span></a><img alt="" border="0" src="http://stats.wordpress.com/b.gif?host=pegwithgehla.wordpress.com&amp;blog=11210508&amp;post=238&amp;subd=pegwithgehla&amp;ref=&amp;feed=1" width="1" height="1" />]]></description>
			<content:encoded><![CDATA[<p style="text-align:justify;">&nbsp;</p>
<p style="text-align:justify;">The Lahore High Court (LHC) has barred the government from amending the blasphemy law, till the final decision of the court in Asia Bibi’s case. Earlier, in the same matter, Chief Justice Khawaja Muhammad Sharif directed President Asif Ali Zardari and the governor of Punjab to abstain from making any move to pardon blasphemy convict.</p>
<p style="text-align:justify;">Respect for judicial process does not require a dumb and deaf society. There are certainly some legitimate questions to be asked. Can a court restrain the head of state from exercising his constitutional powers? Or. Can a court prohibit parliament from performance of its constitutional function? In a sane society, such question may not even arise. Obviously, there can be no restraint, if a functionary or institution of state is acting within constitutional boundaries. Function of the court is to evaluate the constutionality or otherwise, of executive action. It does not posses the powers to restraint a citizen, functionary or institution of state from exercising their constitutional function.</p>
<p style="text-align:justify;">Any order passed against constitutional rights is considered to be of no legal effect and not binding. Courts are custodians of constitution. When a court itself starts passing orders against constitutional rights of other institutions, it invites disregard of these orders. Although, in past, same judiciary has validated every unconstitutional act of military dictators, it is restraining democratic government from performance of its constitutional functions. Undoubtedly, forcing a citizen or an institution to disregard court orders is the worst form of contempt of court.</p>
<p style="text-align:justify;">As, the parliament and democratic process in Pakistan are still consolidating, there has been a constant stream of judicial verdicts which are bad in law and constitution. However for the sake of continuation and political process, executive and parliament has shown a commendable tolerance. But to what limit we are going to force parliament and elected representatives of people remains a big question mark.</p>
<p style="text-align:justify;">There are serious reservations amongst civil society and lawyer’s community on the functioning and impartiality of present judiciary. The fear that sacked judges have had become too political during lawyer’s movement were brushed away. But functioning of present judiciary has raised this question afresh. Leaders and supporters of lawyer’s movement have no answer as to which direction institution of judiciary is heading.</p>
<p style="text-align:justify;">We did not struggle for restoration of deposed judges to have some Messiah but for rule of law and supremacy of constitution. There is a serious feeling that restored judiciary is itself not very conscious of constitutional boundaries and rather acting as some ‘moral brigade’. Had nation intended to have judiciary as Massiah, it should have not participated in general elections as requested by lawyer leaders. But nation not only participated in elections to choose their representatives but also continued its struggle for restoration of judiciary.</p>
<p style="text-align:justify;">It is incumbent on judiciary to respect the constitutional mandate of other institutions, be it Presidency or parliament. Although, judicial activism within constitutional boundaries is welcome step but it should not amount to constitutional violation to make other institutions dysfunctional. Judiciary should instead focus on internal reforms and eradication of corruption and inordinate delays in resolution of public litigation. People of Pakistan did not struggle for a judiciary which takes away the constitutional mendate of their representative parliament.</p>
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		<title>Understanding the Politics of Pakistan People&#8217;s Party</title>
		<link>http://pegwithgehla.wordpress.com/2010/11/28/understanding-the-politics-of-pakistan-peoples-party/</link>
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		<pubDate>Sun, 28 Nov 2010 06:42:28 +0000</pubDate>
		<dc:creator>pegwithgehla</dc:creator>
				<category><![CDATA[Current Affairs]]></category>
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		<category><![CDATA[Pakistan]]></category>
		<category><![CDATA[Politics]]></category>
		<category><![CDATA[Religion]]></category>
		<category><![CDATA[Aisa]]></category>
		<category><![CDATA[Benazir's Assassination]]></category>
		<category><![CDATA[Bhutto]]></category>
		<category><![CDATA[Culture]]></category>
		<category><![CDATA[democracy]]></category>
		<category><![CDATA[Dictatorship]]></category>
		<category><![CDATA[Extremism]]></category>
		<category><![CDATA[Judicial Murder]]></category>
		<category><![CDATA[Liberal]]></category>
		<category><![CDATA[Martial Law]]></category>
		<category><![CDATA[PPP]]></category>
		<category><![CDATA[Socialism]]></category>
		<category><![CDATA[Zardari]]></category>

		<guid isPermaLink="false">http://pegwithgehla.wordpress.com/?p=233</guid>
		<description><![CDATA[Pakistan People’s Party is a party of masses. Majority of its supporters belong to under-privileged classes and their commitment with ideology of Bhutto has turned it in to a cult than a democratic party. Unlike small regional groups with strict &#8230; <a href="http://pegwithgehla.wordpress.com/2010/11/28/understanding-the-politics-of-pakistan-peoples-party/">Continue reading <span class="meta-nav">&#8594;</span></a><img alt="" border="0" src="http://stats.wordpress.com/b.gif?host=pegwithgehla.wordpress.com&amp;blog=11210508&amp;post=233&amp;subd=pegwithgehla&amp;ref=&amp;feed=1" width="1" height="1" />]]></description>
			<content:encoded><![CDATA[<p style="text-align:justify;">Pakistan People’s Party is a party of masses. Majority of its supporters belong to under-privileged classes and their commitment with ideology of Bhutto has turned it in to a cult than a democratic party. Unlike small regional groups with strict control over their support base, a party of such size always has loose organizational structure. While facing continuous oppression from dictators and pro-right international and local establishment, party workers made unprecedented sacrifices. These workers consider it as their right to criticize the leadership and question everyone; certainly they have earned that right with their commitment and struggle. Those who have attended the party meetings know very well the manner in which apparently powerful leaders and top politicians are treated by ‘Jiala’s. There is one exception – ‘The Bhutto’s&#8217;, as the party worker knows well that family has sacrificed more than anyone else can claim.</p>
<p style="text-align:justify;">The internal divide within party is not only visible but also unique. Perhaps no other party in world is mix of such groups with divergent ideological and social background. Since times of ZA Bhutto, this unique mix has held together people like Maulana Kausar Niazi from right wing and Miraj Muhammad Khan from extreme communist ideology. Each of these works as pressure group to influence the party policies in favour of their ideological and social and economic goals. At the same time each of these groups claims to be party itself, but in reality there is great diversity. This diversity not only makes the party represent all segments of society but also works as a uniting bond between federating units of state. The internal struggle remains confined within, as the Bhutto family plays the role of final arbitrator. Those who tried to resolve outside party became instantly irrelevant. Even in future although the conflict of interests within various groups of party may intense, possibility of a divide in party remains out of question.</p>
<p style="text-align:justify;">Apart from ideological and special interest groups, there is a continuous struggle amongst various groups and personalities for party slots and election tickets. In the process, each group and person tries their best to cut short the rivals. A phenomenon which is less intense in smaller parties.  This competition sometimes turns ugly when under the belt tactics are used to undermine the rivals. Recent incident outside Sherry Rehman’s house is an example of these dirty tricks of local grouping. This struggle is found at every level from local to national, which if within the norms of democratic process, is rather healthy. However, in order to get noticed, some candidates for these slots use clan, ethnicity, and even money to manage supporters who could hold banners, placards and party flags bearing their names.</p>
<p style="text-align:justify;">In order to understand the politics of PPP and its future course, it is necessary to understand its internal divides. The internal grouping in party can be divided in to five major groups:</p>
<p style="text-align:justify;">1. Socialists</p>
<p style="text-align:justify;">2. Moderates/Democrates</p>
<p style="text-align:justify;">3. Bhuttoist’s</p>
<p style="text-align:justify;">4. Oppertunists</p>
<p style="text-align:justify;">5. Feudal and Business Elite</p>
<p style="text-align:justify;">6. Religious minority groups</p>
<p style="text-align:justify;"><strong>Socialists:</strong></p>
<p style="text-align:justify;">This group originally belonged to small leftist parties which had very well trained political workers and believed in class based revolution like Russia and China. Although very well organised and ideologically motivated, these parties has little following in masses. Trade Unions, Peasant Councils and student organisations remained their primary support base. When ZA Bhutto resigned from Ayub Khan’s cabinet to launch his Pakistan Peoples Party, most of these left groups joined him and played a key role in attracting masses because of their attractive slogans and political training. Soon after the victory in elections, being an organised force, they played important role in implementing the party policies.</p>
<p style="text-align:justify;">Soon after the nationalisation, the bureaucracy and feudal could not get along with the group and started side lining the ideological groups to isolate ZA Bhutto. In 1977, when right wing US, Saudi and Military backed alliance of PNA was assembled, the major organised force to defend party was missing. However, with imposition of Martial Law, these workers became the major force challenging Zia ul Haq’s military regime. Thousands of them were sentenced by military courts  and imprisoned, many got public lashing and some went to exile. A small groups joined Mir Murtaza Bhutto and started an armed resistance against Zia dictatorship. A seizable number associated themselves with media, NGO’s, and rights groups to resist military regime.</p>
<p style="text-align:justify;">Majority of the socialist supporters of PPP belonged to educated lower or middle classes. Military cracked down not only tortured them but also destroyed whatever little business or properties they possessed. After the death of Ziaul Haq and return of Benazir Bhutto, Zia’s oppression had weaken them to the extent that they were unable to play the same role as in 1970′s. Benazir Bhutto tried to accommodate a large number of these workers in party and government ranks in order to repair the damage to their social family lives and economic standing. However given the huge number and limited government resources, majority of them remained in miserable condition. Surprisingly though, many of them who lost families, careers and their future for party refused to accept offers of high profile posts during 1990′s but have become less significant in present political scenario.</p>
<p style="text-align:justify;">Those who joined rights groups and NGO’s and media, still influence party policies from outside. Those who were able to withstand economic and personal losses because of imprisonments, illegal occupation of properties with military backing, still remain a vocal pressure group inside party with ideals of a secular, just and liberal society.</p>
<p style="text-align:justify;"><strong>Moderates and Democrats:</strong></p>
<p style="text-align:justify;">Although performance of first PPP government was not ideal, but it set new standards of politics in a feudal society. Millions of hardcore poor benefited from nationalisation of farming lands. Countless homeless got free piece of land for a shelter. Education, first time in history got in to access of underprivileged. The bureaucracy became answerable to people and first time traditional power centre shifted from feudal to masses.  As, people got voices and realisation of their right, the democracy became a platform where they can share power.</p>
<p style="text-align:justify;">This support base is purely an outcome of party performance and pro-poor policies which still makes its major vote-bank.This group does not has any direct conflict with Socialists, rather it acts in their support for secular, liberal and more equatable society.</p>
<p style="text-align:justify;"><strong>Bhuttoists:</strong></p>
<p style="text-align:justify;">Charisma of personality of Z A Bhuttoand and Benazir Bhutto and their heroic deaths has turned them in to a folk hero’s. The ordinary supporter felt betrayed by powerful military establishment and judiciary when their elected representative were assassinated by Mullah, Judges and generals alliance. At the same time, nationalists from smaller provinces developed a feeling that establishment would not allow them to participate in political process. Military crack down, state oppression and ruthless use of force against political workers resulted in to giving birth to a rather stronger ideological support for Bhutto’s policies.</p>
<p style="text-align:justify;">This group has same characteristics as of Socialists and Democrats but it is more diverse on socio-economic and ethnic grounds. For their commitment with party, this group gives a colour of cult to a rather democratic party.</p>
<p style="text-align:justify;"><strong>Oppertunists:</strong></p>
<p style="text-align:justify;">This is perhaps most interesting group inside party because of its diversity role and and influence. The group mainly focuses to be visible during party functions and around party leadership. During tough times, which has been a quite long period, the group goes in to hibernation and instead focuses on their business. Switching loyalties over night is not an issue for them, as soon as party comes in power, they start defending its policies so loudly that every other voice fades. They target the key office of profit and remain loyal to their gains. They have nothing to do with highlighting party program, its ideals or achievement but hungry for quick nutritiousness by mudslinging on ideological supporters within party and both its sympathisers and rivals outside party ranks.</p>
<p style="text-align:justify;">Although this group is small in number but with their ability to penetrate party leadership and resources to invest, they make high returns. They pop-up and disappear quickly, most vocal in times when party is in power, no body remembers their names unless they decide to switch loyalties to new rulers.  When party is in power, they would run vicious propaganda campaign against real support base of party. Although repeated cyclical periods show us that in tough times, it was only ideological workers who stayed with party and sacrificed. When party gets out of power, they pack their bags leaving baggage of their corruption and misuse of powers for ordinary workers to handle.</p>
<p style="text-align:justify;">This group is always at war against above three segments in party and most vocal against rivals to stay in good books of leadership. However it would gives interesting twists to party policy as to have good relations with establishment to stay away from trouble.</p>
<p style="text-align:justify;"><strong>Feudals and Business Elite:</strong></p>
<p style="text-align:justify;">Since 1970′s as bureaucracy and establishment has used every tactic to sidelined the ideological supporters of party to create space for feudal and business elite. After death of Ziaul Haq, the non-party election politics become too expensive for an ordinary worker, majority of whom has been badly damaged economically. The doctrine of ‘Electable Candidate” was introduced in these times where every party tried to pick a candidate who can spare enough resources and has personal influence in his constituency.</p>
<p style="text-align:justify;">The party workers who faced wrath of establishment during Zia dictatorship were unable to compete in resource intensive power politics. Unlike establishment backed alliances where right wing parties received financial support through agencies, PPP could not fund its workers. The situation proved to be a good opportunity for resourceful feudal and businessmen.  Many powerful families from Ziaul Haq’s camp joined party. Those who won or lost their respective seats made sure that they install their relatives in local party offices. The exercise took away the luxury of holding local party offices from workers and instead ticket holder or their relatives became office bearers.  Unfortunately, when these feudal switch parties, the artificially installed party office bearers switch with them, leaving workers wondering in uncertainty. The most recent episode was assembling of PPP (Patriots) which consisted of opportunists intellectuals, some most vocal fake ‘loyalists’ and feudal holding party positions as well parliamentary slots.</p>
<p style="text-align:justify;">The group is dominant in parliamentary politics and greatly influences party policies in favour of land holders and businesses like Sugar, Textile and construction industries. Despite their their influence, the group faces lots of criticism from party workers and has little recognition inside party. They are commonly considered as ‘infiltrator’ and widely disliked by party supporters.<strong><br />
</strong></p>
<p style="text-align:justify;"><strong>Religious Minority Groups:</strong></p>
<p style="text-align:justify;">Secular and liberal credentials of party are attractive for religious minorities of country. Since Zia’s dictatorship, state policies were molded to favor certain religious groups in order to buy support for military regime. Soviet war resulted in to trained religious fighters returning back home with guns and narrow interpretation of religion. These violent jihadi’s targeted the religious minorities, both Muslim and Non-Muslim. The anti-PPP parties were assembled from right wing pro fanatics and urban middle class religious traders and enjoy support of establishment. In this situation PPP becomes an attractive refuge for religious minorities. Furthermore the party culture being liberal is not discriminatory towards minorities in a radicalized society.</p>
<p style="text-align:justify;">This groups struggles to influence the party policies to abolish discriminatory laws and makes a major support base against violence. At the same time it also struggles that its own versions of religious ideologies become part of party policy.</p>
<p style="text-align:justify;"><strong>The Struggle Within:</strong></p>
<p style="text-align:justify;">Each of these pressure groups is constantly struggling to influence party policies to suit their interests. This provides party with a diverse nature of support and also creates complex policy issues for leadership. Party leadership, which still stays in hands of Bhutto family enjoys unanimous support from all these diverse groups. However, it remains secular, liberal and leaning to a concept of a more equitable pro-poor state.</p>
<p style="text-align:justify;">With mass de-politicization of society, the struggle for influence amongst various groups within party became less intense during past decades. With revival of democratic process and media revolution, each group seems to be trying to asset itself. For those who has less understanding of party’s structure, this seems to be confusing, although this is part of political process and maturity of political institutions.</p>
<p style="text-align:justify;">The party can return to its old ideals and manifesto of ZA Bhutto by once again including educated youth through Student Unions, Workers through Trade bodies and new leadership through Local Bodies elections. However, the feudal and Opportunist groups within party will strongly resist such moves. Similarly, the opportunist will try to block the first three groups from getting influence and replacing them with genuine leadership.</p>
<p style="text-align:justify;"><strong>Future Politics:</strong></p>
<p style="text-align:justify;">In practice, the future political divide would be based on struggle between conservatives and liberal segments of society The large number of educated youth with little sympathy towards extremism will ultimately joining the political process. The combination of a vibrant media, educated youth and widening ideological divided in society will impact the internal politics of party. The Socialist, Democrats and Liberal groups inside party would be the beneficiary of this evolution. Although the ‘feudal’ and ‘opportunists groups’ will remain in one form or other, the ideological groups seems getting more influence on party policies in future.  If the political process continues, we might witness party getting closer to secular, liberal and socialist ideals.</p>
<p style="text-align:justify;">&nbsp;</p>
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		<title>Judicial Activism and Investor Confidence</title>
		<link>http://pegwithgehla.wordpress.com/2010/11/22/judicial-activism-and-investor-confidence/</link>
		<comments>http://pegwithgehla.wordpress.com/2010/11/22/judicial-activism-and-investor-confidence/#comments</comments>
		<pubDate>Mon, 22 Nov 2010 07:59:37 +0000</pubDate>
		<dc:creator>pegwithgehla</dc:creator>
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		<description><![CDATA[Investor is the first bird to fly away when there is a remote possibility of instability and fear of disregards for international contracts. Populist rhetoric of half-learned scholars and opportunists politicians that corruption and lack of accountability are responsible for discouraging investment does not makes any sense. Although these two factors impact &#8230; <a href="http://pegwithgehla.wordpress.com/2010/11/22/judicial-activism-and-investor-confidence/">Continue reading <span class="meta-nav">&#8594;</span></a><img alt="" border="0" src="http://stats.wordpress.com/b.gif?host=pegwithgehla.wordpress.com&amp;blog=11210508&amp;post=230&amp;subd=pegwithgehla&amp;ref=&amp;feed=1" width="1" height="1" />]]></description>
			<content:encoded><![CDATA[<p style="text-align:justify;">Investor is the first bird to fly away when there is a remote possibility of instability and fear of disregards for international contracts. Populist rhetoric of half-learned scholars and opportunists politicians that corruption and lack of accountability are responsible for discouraging investment does not makes any sense. Although these two factors impact the investment decisions, the studies suggest that authoritarian regimes with massive corruption and lack of accountability has attracted equal investments as did the transparent and democratic governments. In reality, the authoritarian regimes are favourite of international investors while corruption, kickbacks and commissions are established practice of doing business in corporate MNE’s. From arms deals to explorations licences and from Foreign Direct Investment to  award of development projects,;corrupt practices, political influences and reactivity commissions do exist at varying levels. The biggest fear of any investor lies in uncertainty and discontinuation of policies of host state where institutions become dysfunctional because of internal conflicts.</p>
<p style="text-align:justify;">In case of Pakistan, much glorified case of preventing privatisation of Pakistan Steel Mills by Supreme Court of Pakistan, played a key role in breeding uncertainty. As the judgement is a public document, it is open for criticism, but very little has been said and written on it’s impact and constitutionality apart from securing political mileage against an unpopular dictator. In terms of investor confidence, the judgement proved to be an absolute disaster for privatisation and Foreign Direct Investment (FDI). The most vocal economists in country who are aware of its disastrous consequences on economy remain silent because of fear of backlash from supporters of popular Chief Justice.</p>
<p style="text-align:justify;">Superior courts play a supervisory role and their prime function is to resolve the matters where rules, regulations and constitutional provisions are violated by by executive authorities. When a public functionary or institution violates these regulations, courts have powers to direct them to follow the same, but court has no capability to acquire the functions of that institution.  When it does so, not only said institution would becomes dysfunctional and people loose faith on it but also a court would not be able to understand the complex deals which only professionals are capable to handle. This basic principal of dispensation of justice was ignored by Supreme Court while deciding the case of Pakistan Steel Mills in 2007. Despite pointing out the irregularities and directing Privatisation Commission to ensure the public interest is safe guarded under certain conditions, the Supreme Court exceeded its constitutional and supervisory limits by indulging in to investigation process before finally scrapping the deal. Certainly, none of the Honourable judges in bench has expertise to understand and structure the complex fiscal arrangements, which only corporate professionals can perform.i</p>
<p style="text-align:justify;">Had court confined it to pointing out irregularities and directing the institutions concerned to fix these issues, it would have been strengthen the Privatisation Commission and added in to investors confidence. The unprecedented decision of altogether scrapping the entire deal without understanding its fiscal aspects proved to be first ‘stay-away signal’ for investors. The situation got worst during two years long popular ‘restoration of judiciary’ movement which at the same time brought both Pervez Musharaf and Pakistan’s economy to its knees. With installation of democratic government in Islamabad there was a brief period of partial restoration of investor confidence and international investment houses started expressing interest in Pakistan’s power, agriculturalist and infrastructure sectors. The same was wiped away when a showdown in Punjab based Mian Nawaz Sharif and Pakistan People’s Party government lead to restoration of deposed judges.</p>
<p style="text-align:justify;">&nbsp;</p>
<p style="text-align:justify;">The hostile judiciary has taken Zardari regime to task while interfering in every executive matter beyond its constitutional authority . Be it fixing Sugar and Electricity prices, tax on imported fuel or contracts for rental power projects, the judiciary is continuously taking over the functions of specialised institutions. If this interference remains to the constitutional supervisory limits and pointing out irregularities, it can strengthen the institutions to function within the regulatory frame work. However, institutions loose credibility and becomes dysfunctional when judiciary assumes their role. Each judicial interference is followed by a parallel media trial. Political rivals and self styled analysts in media with little or no understanding of issues which need specialised professionals, run their regular campaigns to settle scores with government and parties involved while courts stay silent spectator.</p>
<p style="text-align:justify;">&nbsp;</p>
<p style="text-align:justify;">Although profits are prime target for any corporate, the corporate leaders have to do business worldwide and are very much conscious about repute of their organisations. An investment destination is never a choice which turns them in to clowns, corrupt and dishonest thugs without any valid proof. Depute corrupt practices which are undeniable part of any investment regime, these corporate are always careful in following the rules and regulations, under the table deals always remain untraceable. Even in developed countries judiciary and regulatory institutions keep themselves limited to their supervisory role to ensure that rules and regulations are being followed. No court in world, would interfere in issue on mere assumption of corruption and would takeover the role of regulatory bodies which require specialised skills and understanding of fiscal matters of state. When this happens, the existence or otherwise of corporate regulators becomes immaterial both for courts and investors.</p>
<p style="text-align:justify;">&nbsp;</p>
<p style="text-align:justify;">Pakistan offers some of the most attractive investment opportunities to international investors. The growing middle class and educated workforce with a decent infrastructure can make the country an ideal place for investors. While discussing about Pakistan as their potential investment destination, every investment house raises two questions. First being the political stability and continuation of state policies and second and biggest concern being the guarantee that courts would not turn their legitimate contract in to a devils act on perceived corruption charges. In developing countries like Pakistan, here can hardly a way forward without attracting the foreign investment. The dream would not materialise unless all institutions of state respect the mandate of others. Judicial activism is welcome step and should be focused on ensuring that constitution, laws, rules and regulations are followed by other institutions. Certainly, Supreme Court does not posses the capability, understanding and expertise to acquire the role of every other institution.</p>
<p style="text-align:justify;">&nbsp;</p>
<p style="text-align:justify;">Corruption is a reality in all developing countries and even in developed world. In order to eradicate corrupt practices, the institutions needs to be enlightened. This can not happen when one institution of states takes over powers of others and starts making decisions for which it does not posses expertise. The present state of affairs which took birth from ‘Judicial Activism’ in terms of political instability and investors confidence are biggest deterrents for economic development. On its own resources even with completely eradicating corruption and ensuring transparency, which itself is not possible, the country could not create three million jobs annually for its youth beside developing infrastructure for hundred and seventy million population. As long as institution does not stop interference in to others mandate, the investors confidence would not be restored. No investor is going to trust the Privatisation Commission or Pakistan’s Board of Investment without an assurance that after following rules and regulations, their contracts would not be terminated by courts on charges of perceived corruption followed by a massive media trial.</p>
<p style="text-align:justify;">&nbsp;</p>
<p style="text-align:justify;">The judicial activism should instead be directed towards internal transparency, as judiciary even after being restored,  itself stands as second most corrupt institution of country. In present economic conditions and limited options, media activism waged by self-styled analysts, judicial activism in wake of ‘righteousness’ and political  opportunism for sake of grabbing power on cost of economy might lead the state to a complete collapse. The first and most important step in restoring investors confidence can only be achieved  if judiciary limits itself as a guardian of law and constitution and not a parallel policy making or a regulatory body.<br />
–</p>
<p style="text-align:justify;">&nbsp;</p>
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		<title>Friends of Floods Devastated Pakistan Should Wakeup</title>
		<link>http://pegwithgehla.wordpress.com/2010/08/16/friends-of-floods-devastated-pakistan-should-wakeup/</link>
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		<pubDate>Mon, 16 Aug 2010 08:14:55 +0000</pubDate>
		<dc:creator>pegwithgehla</dc:creator>
				<category><![CDATA[Civil Society]]></category>
		<category><![CDATA[Economy]]></category>
		<category><![CDATA[Pakistan]]></category>
		<category><![CDATA[World]]></category>
		<category><![CDATA[Aid pledges to Pakistan]]></category>
		<category><![CDATA[democracy]]></category>
		<category><![CDATA[Extremism]]></category>
		<category><![CDATA[Flood Relief]]></category>
		<category><![CDATA[FLoods victims of Pakistan]]></category>
		<category><![CDATA[Friends of democratic Pakistan]]></category>
		<category><![CDATA[International community]]></category>
		<category><![CDATA[JuD]]></category>

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		<description><![CDATA[Political leadership in Pakistan,  is generally considered to be corrupt and inefficient. Although, perception is not entirely baseless, same is widely fed to public by establishment friendly intellectuals in electronic and print media. With democratic collation government in Islamabad, we &#8230; <a href="http://pegwithgehla.wordpress.com/2010/08/16/friends-of-floods-devastated-pakistan-should-wakeup/">Continue reading <span class="meta-nav">&#8594;</span></a><img alt="" border="0" src="http://stats.wordpress.com/b.gif?host=pegwithgehla.wordpress.com&amp;blog=11210508&amp;post=225&amp;subd=pegwithgehla&amp;ref=&amp;feed=1" width="1" height="1" />]]></description>
			<content:encoded><![CDATA[<p style="text-align:justify;">Political leadership in Pakistan,  is generally considered to be corrupt and inefficient. Although, perception is not entirely baseless, same is widely fed to public by establishment friendly intellectuals in electronic and print media. With democratic collation government in Islamabad, we have witnessed a new trend in political culture. Since, terrorism has become an unwanted curse, we have to live with, Minister for Interior Rehamn Malik and brave leader of Khyber Pakhtunkhawa Mian Iftakhar made their presence felt, at incidents of terrorism and while facing media to gather popular support against extremists. Former Mayor of Karachi Mustafa Kamal and Chief Minister Punjab, Mian Shahbaz Sharif have actively been approaching the effected families in terrorism incident and cases of natural calamities.</p>
<p style="text-align:justify;">The critics of culture of  political activism, claim it to be an &#8216;eye wash&#8217; and cover-up for government  inefficacy and lack of planning and same  can not be entirely brushed away. At the same time one must remember that government can not function effectively in absence of functional and efficient institution. Thanks to dictatorships, institutions of state are broken, inefficient or even altogather abset . Political activism is becoming intense in presence of hostile media. For sake of adding &#8216;spice&#8217;, anchorpersons of TV talk show  would gather political opponents and make them accuse each other of being responsible for everything ranging from climate change to natural disasters. Although some groups sympathetic to extremists have been using same medium and approach to confuse public but has not been able to create a space for their violent ideology in masses.</p>
<p style="text-align:justify;">War of words turned in to a competition between Minister for Law, Baber Awan and Present Chief Justice of Punjab Khawja Muhammad Sharif making visits of Bar Associations. Although some sections of media accused this activity as &#8216;trading&#8217;of lawyers sympathies&#8217;, fact remains that many Bar Associations were first time able to get basic amenities like public wash-rooms. Even Mian Nawaz Sharif had to call the terrorism victims of Ahmadi community as &#8216;brother Pakistani&#8217;s&#8217; inviting criticism of extremist groups in order to to counter the visits of Governor Taseer and Rehman Malik&#8217;s. The current floods has turned this &#8216;political activism&#8217;  in to a positive competition. Mr Nawaz Sharif accused President of leaving the country at time of natural disaster while touring flood victims which fuelled the presence of  Prime Minister and his party leaders in effected areas.</p>
<p style="text-align:justify;">On direction of their leadership, the members of Parliament, never accessible to their voters in past, are participating in rescue and relief efforts. President faced sharp criticism for his overseas visit while his daughter Bakhtawar Bhutto, was quick to launched a donation campaign, attracting a huge response from youth, collecting rupees five million in first hour of its launch. The major political parties are trying to reach more areas in order to earn a favourable public image.  It would be premature to judge their sincerity and effectiveness but at the same, this is a beginning of new culture which can only grow in democratic environment. Those doing photo sessions, would ultimately be eliminated in next polls and those making a sincere effort would be rewarded duly by people.</p>
<p style="text-align:justify;">A serious challenge is emerging from extremists organisations, responsible for nation&#8217;s destruction. Taliban offered amount of US $20 million, in case, government rejects the same amount of aid offered by USA. Although, we might witness international community playing a more effective role in coming days. The attention of international community and aid pledges still remain too little and too late while extremist organisations are already on ground. JuD, an organisation on UN terror list, claims of helping 250,000 families do far, each with Rs.5,000 in cash and household requirements. There are also reports of other extremists sympathetic to Taliban being involved in rescue operations. The NGO&#8217;s involved in relief efforts should also carry out the impact study on activities of extremist groups and and suggest counter measures. They are saving people so that they can recruit &#8216;human bombs&#8217; by polluting minds of innocent,as famous saying of Bubdah, &#8220;An insincere and evil friend is more to be feared than a wild beast; a wild beast may wound your body, but an evil friend will wound your mind&#8221;.</p>
<p style="text-align:justify;">There is an immediate need for an organised effort from government and international community to make their presence felt on ground in relief efforts. Although, USA has deployed 13 heavy lift helicopters for rescue operation and extended US$ 55 million in aid, still help from international community remains too little, given the magnitude of disaster. Much glorified, Islamic Ummah and OIC, as always remains limited to extending their collective prayers for the victims. Far from perfect and with all its weaknesses, the democratic process is delivering. Pakistan can not afford to give space to extremists and loose the war against extremism, which we have won with blood of our soldiers and sacrifices of public. This is time for international community and liberal democratic Pakistani&#8217;s to wake up and play their role in helping flood victims and government to overcome the biggest disaster of nations history.</p>
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		<title>From &#8216;Shoe Fiction&#8217; to &#8216;Gun Reality&#8217;</title>
		<link>http://pegwithgehla.wordpress.com/2010/08/09/from-shoe-fiction-to-gun-reality/</link>
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		<pubDate>Mon, 09 Aug 2010 16:17:46 +0000</pubDate>
		<dc:creator>pegwithgehla</dc:creator>
				<category><![CDATA[Current Affairs]]></category>
		<category><![CDATA[Pakistan]]></category>
		<category><![CDATA[Politics]]></category>
		<category><![CDATA[Religion]]></category>
		<category><![CDATA[Floods in Pakistan]]></category>
		<category><![CDATA[Geo Banned]]></category>
		<category><![CDATA[Geo News]]></category>
		<category><![CDATA[media]]></category>
		<category><![CDATA[Mullah]]></category>
		<category><![CDATA[President of Pakistan]]></category>
		<category><![CDATA[Shoe Thrown on Zardari]]></category>
		<category><![CDATA[Terrorism]]></category>
		<category><![CDATA[Tolerence]]></category>

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		<description><![CDATA[Unprecedented floods in hundred year&#8217;s history of region are wiping away towns, villages and infrastructure, leaving hundreds dead and over a million homeless. Over two hundred thousands troops are engaged in a battle for future of Pakistan against blood thirsty &#8230; <a href="http://pegwithgehla.wordpress.com/2010/08/09/from-shoe-fiction-to-gun-reality/">Continue reading <span class="meta-nav">&#8594;</span></a><img alt="" border="0" src="http://stats.wordpress.com/b.gif?host=pegwithgehla.wordpress.com&amp;blog=11210508&amp;post=221&amp;subd=pegwithgehla&amp;ref=&amp;feed=1" width="1" height="1" />]]></description>
			<content:encoded><![CDATA[<p style="text-align:justify;">Unprecedented floods in hundred year&#8217;s history of region are wiping away towns, villages and infrastructure, leaving hundreds dead and over a million homeless. Over two hundred thousands troops are engaged in a battle for future of Pakistan against blood thirsty &#8216;creatures of intolerance&#8217;. Criminals and terrorists are playing a bloody game in streets of Karachi and killing innocent. Perhaps there has been not been the worst times in sixty years of nations existence.</p>
<p>The government with limited resources, inefficient and broken institutions, is trying to rescue those who lost everything in unprecedented floods. It is also seeking help from international community to overcome the financial burden for relief operations. Several countries have pledged assistance while USA has initiated a government lead relief campaign and helicopter rescue operation in effected areas. However, at home, the public awareness and participation remains limited, as Media and politicians are busy in &#8216;other fun&#8217;.</p>
<p>The situation demanded that all sections of society unite against biggest natural disaster in our history and war against terrorism. Instead, we have witnessed a &#8216;suicide attack&#8217; on tolerance and national unity, jointly &#8216;organised&#8217; by opposition parties along with a Terrorist Organisation &#8216;Hizbul Tahreer&#8217;. A furious debate was initiated by extremist-friendly media on President&#8217;s visit to UK, after British Prime Ministers remarks. Protesters from extremist groups were brought outside hotel where President has to speak. While themselves staying in liberal British society, they carried slogans against President and demanded &#8216;Islamic Caliphate&#8217; to be imposed in Pakistan.</p>
<p>The object of criticism and protests was not the person of President but the national unity. Out of blue, a pro-Taliban TV Channel started airing the &#8216;Breaking News&#8217; and interview of a person who claimed of throwing a shoe on President. Opposite to the claims of the pro-Taliban media group, the video of the entire speech of President, available on social networks is a valid proof that no such incident ever happened. Despite denial of participants, High Commission and government spokes persons, the circus continues.</p>
<p>While his party workers protested against President for visiting UK leaving floods victims behind, the top critic and a cricketer turned failed politician, same day flew to join his family in UK. Opposition PMLN leader Nawaz Sharif, whose son owns more that two billion pounds real estate business in UK was not behind to jump the band wagon of critics . As this was not enough the MQM leader who holds British passport with &#8216;national pride&#8217;, living a lavish life in London also made similar demand.</p>
<p>In case, Mian Nawaz Sharif was really up-set on British PM’s remarks, he should have packed his business in UK. Nothing prevented MQM chief Altaf Hussain to give up his UK citizenship under protest. Imran Khan could have announced that his own children would not be staying in UK. Similarly, the former JI Chief Qazi Hussain, who is a proud grandfather of American citizen grandson and US national daughter, did not felt a need to get out his family from ‘Infidel land’ under protest.</p>
<p>The pious activist of terrorist group, ‘Hizbul Tahreer’, whom a media group hired and presented as &#8216;shoe hurler&#8217; demanding Caliphate to be imposed in Pakistan, himself lives on social security and house rent from Birmingham Town Council&#8217;s. He should have joined his fellow Jihadi’s in some cave of Islamic Emirates of Afghanistan rather than living on ‘ pounds’ of &#8216;infidel tax payers. What else can be named a hypocrisy and game of interests?</p>
<p>The &#8221;shoes fiction&#8217; does not seem to be pleasant start in a society where gun is more convenient to use then a shoe and violence has become part of culture. The pro-Taliban media persons might also experience the ‘shoe protests’ from families of terror victims. The political leadership also would not be safe as they too have love and hate relations with opponents. From Mullah’s issuing edicts of infidelity to the owners of media giants showing the burned bodies of plane crash victims might facing the similar &#8216;offended public&#8217;.</p>
<p>The sane voices have been drowned in the floods of media-extremists nexus along with the poor, who drowned in flash floods. We have not learned to promote tolerence from PMLN&#8217;s attack on Supreme Court and friendly &#8216;treatment&#8217; of Imran Khan by JI activists in Punjab University. In a society where a suicide bomber can easily be hired, there are are equal chances that opponents might ‘arrange&#8217; such incidents. Each time such an incident takes place, the blame game would be followed by violence, killings, burning of public property and riots.</p>
<p>The fiction of &#8216;shoe hero&#8217; being played by media and politicians, is going to be &#8216;gun reality&#8217; of future. Sadly, this time media itself, along with national unity and tolerance is going to be the causality. This will only facilitate the extremists and terrorists to play havoc on innocent citizens and also target media and groups sympathetic to them to ignite riots and weaken the state. Only time will tell us who may not the victim of transformation when oppositions and media’s created ‘shoe fiction’ becomes a &#8216;gun reality&#8217;.</p>
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		<title>Illegitimate Dictators and their Children</title>
		<link>http://pegwithgehla.wordpress.com/2010/07/04/illegitimate-dictators-and-their-children/</link>
		<comments>http://pegwithgehla.wordpress.com/2010/07/04/illegitimate-dictators-and-their-children/#comments</comments>
		<pubDate>Sun, 04 Jul 2010 03:46:08 +0000</pubDate>
		<dc:creator>pegwithgehla</dc:creator>
				<category><![CDATA[Pakistan]]></category>
		<category><![CDATA[Politics]]></category>
		<category><![CDATA[Religion]]></category>
		<category><![CDATA[18th amendment]]></category>
		<category><![CDATA[dictators]]></category>
		<category><![CDATA[Ijazul Haq's article in News]]></category>
		<category><![CDATA[parliament]]></category>
		<category><![CDATA[zia's childern]]></category>
		<category><![CDATA[ziaulhaq's son]]></category>

		<guid isPermaLink="false">http://pegwithgehla.wordpress.com/?p=218</guid>
		<description><![CDATA[First appeared in daily &#8216;News&#8217; in response to Ijazul Haq&#8217;s  article. http://www.thenews.com.pk/daily_detail.asp?id=248786 This is with reference to Ijazul Haq&#8217;s article &#8220;What has &#8216;freely&#8217; changed?&#8221; (July 3). Mr Haq seems to be living in the 70s, as he seems unable to understand the &#8230; <a href="http://pegwithgehla.wordpress.com/2010/07/04/illegitimate-dictators-and-their-children/">Continue reading <span class="meta-nav">&#8594;</span></a><img alt="" border="0" src="http://stats.wordpress.com/b.gif?host=pegwithgehla.wordpress.com&amp;blog=11210508&amp;post=218&amp;subd=pegwithgehla&amp;ref=&amp;feed=1" width="1" height="1" />]]></description>
			<content:encoded><![CDATA[<p style="text-align:justify;">First appeared in daily &#8216;News&#8217; in response to Ijazul Haq&#8217;s  article.</p>
<p style="text-align:justify;"><a href="http://www.thenews.com.pk/daily_detail.asp?id=248786">http://www.thenews.com.pk/daily_detail.asp?id=248786</a></p>
<p style="text-align:justify;">
<p style="text-align:justify;">This is with reference to Ijazul Haq&#8217;s article &#8220;What has &#8216;freely&#8217; changed?&#8221; (July 3). Mr Haq seems to be living in the 70s, as he seems unable to understand the meaning and importance of a simple word like &#8216;freely&#8217;. While defending his father, Mr Haq declared that parliament had tempered with the constitution by inserting the word &#8216;freely&#8217; in a clause related to the religious rights of minorities. Only the son of a dictator can term the consensus of parliament as &#8216;tempering&#8217; while terming the distortions in the constitution introduced by a dictator as &#8216;amendments&#8217;.</p>
<p style="text-align:justify;">According to Mr Haq, Gen Ziaul Haq was a &#8220;Muslim ruler, a leader and a statesman of standing&#8221;. Mr Haq should go through the 18th Amendment so that he may know that Ziaul Haq&#8217;s name has been removed as a &#8216;ruler&#8217; and his position is now that of a &#8216;usurper&#8217;. After this amendment, at best he can be termed an &#8216;illegitimate ruler&#8217;. I hope Mr Haq would understand what difference the addition of a single word &#8216;illegitimate&#8217; makes to the credentials of Zia.</p>
<p style="text-align:justify;">
Mr Haq has tried to hide Ziaul Haq&#8217;s crimes under the curtain of religion by declaring him an &#8216;Islamic ruler&#8217;. As a matter of fact Ziaul Haq was an illegitimate ruler and a hypocrite who used religion as a tool to stay in power. His love for Islam remained limited to recruiting foot soldiers for America&#8217;s war against the Soviet Union and promoting hatred and sectarian differences for his lust of power. Certainly, no other person has damaged Islam as much as Zia did. Had Mr Haq watched the bloodbath at Data Darbar by &#8216;Zia&#8217;s children&#8217; on TV screens, he would have chosen a different time to defend the worst enemy of Islam and Pakistan and an illegitimate ruler.</p>
<p>Ahmad Nadeem Gehla</p>
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		<title>Response to Open letter of Marvi Memom MNA</title>
		<link>http://pegwithgehla.wordpress.com/2010/06/25/214/</link>
		<comments>http://pegwithgehla.wordpress.com/2010/06/25/214/#comments</comments>
		<pubDate>Fri, 25 Jun 2010 15:42:17 +0000</pubDate>
		<dc:creator>pegwithgehla</dc:creator>
				<category><![CDATA[Economy]]></category>
		<category><![CDATA[Pakistan]]></category>
		<category><![CDATA[Politics]]></category>
		<category><![CDATA[Ahmad Nadeem Gehla]]></category>
		<category><![CDATA[Energy]]></category>
		<category><![CDATA[LUBP. PPP. PMLN]]></category>
		<category><![CDATA[Marvi Memon]]></category>
		<category><![CDATA[Open Letter]]></category>
		<category><![CDATA[Pervez Musharaf]]></category>
		<category><![CDATA[Zardari]]></category>

		<guid isPermaLink="false">http://pegwithgehla.wordpress.com/?p=214</guid>
		<description><![CDATA[Dear Madam MNA, When we want to believe that this is an extreme of manipulating issues, misguiding and confusing masses, there comes someone to give us a surprise. Your open letter to Prime Minister regarding Kala Bagh Dam is an &#8230; <a href="http://pegwithgehla.wordpress.com/2010/06/25/214/">Continue reading <span class="meta-nav">&#8594;</span></a><img alt="" border="0" src="http://stats.wordpress.com/b.gif?host=pegwithgehla.wordpress.com&amp;blog=11210508&amp;post=214&amp;subd=pegwithgehla&amp;ref=&amp;feed=1" width="1" height="1" />]]></description>
			<content:encoded><![CDATA[<p style="text-align:justify;">Dear Madam MNA,</p>
<p style="text-align:justify;">When we want to believe that this is an extreme of manipulating issues, misguiding and confusing masses, there comes someone to give us a surprise. Your open letter to Prime Minister regarding Kala Bagh Dam is an excellent example of initiating another meaningless debate while pushing real issue under the carpet. This is not going to serve any purposes except confusing people and widen the existing differences between provinces. This effort will lead honourable parliamentarians from various provinces to be pitched against each other debating something which does not matter for this miserable nation.</p>
<p style="text-align:justify;">The hypocrisy of ‘left-overs’ of dictatorships is an example of its own kind. According to distorted figures of previous government, economy was growing at rate of 8-10% a year. This is no more a secret that whatever real growth rate might, that mainly happened in consumer sector. Any government with a vision of a rabbit would have figured out that growth in consumption will lead to shortage of power. Despite your party’s slogans to elect the dictator in uniform for ten times, never a single word about a comprehensive power plan.</p>
<p style="text-align:justify;">That tunnel vision leads this miserable nation in to Stone Age and darkness. With that growth in consumption, should not previous government have added at least 2,000/3,000 MW annually in to power system? Presently, there is shortage of about 7,000/8,000 MW. Thermal power being generated on imported fuel is draining resources and making power expensive for industry and common household. How many damns were build during dictatorship, actively supported by your good self and your party? The most unfortunate aspect of this manipulated economic circus was purchase of oil on deferred payments and leaving the debts for new government.</p>
<p style="text-align:justify;">That was not the last crime of your government, the sword of non-payment to power companies and circular debt still hangs on head of newly elected government. In order to assure the bankers profits, your government got foreign debts rescheduled for short terms on higher interest rates. Banker and so called stock investors made hefty profits by investing in to stocks and consumer finance, which lead to inflation and devaluation of rupee. These repayments, delayed during previous government are draining a major share of GDP and government is forced to borrow from IMF to make repayments. Good things that you speak up about an’ Energy Plan’ after 13 long years but still silent over issue of resources needed for such plan.</p>
<p style="text-align:justify;">Apart from the technical details about KBD, three provincial governments have passed resolution against the project. The issue has since been dead unless provinces reach an agreement. Why to start a new debate and waste the time of parliament and nation on a meaningless discussion? Please allow me to ask you something more relevant. Even if, the provinces reach an agreement on KBD and give it a nod, what would be the mode of financing and repayments of $ 6 Billion estimated costs? Does government has enough resources to finance KBD project on it’s own or get financing from international lenders. Has your good self ever bothered to ask Foreign Diplomats about reservations of investors from their respective countries – your might find your performance on TV talk shows as a part of problem.</p>
<p style="text-align:justify;">Dear Madam,</p>
<p style="text-align:justify;">Opposition parties are playing a dangerous game with this miserable nation by spreading confusion and widening divides. There is no doubt that potential for hydro-power has criminally been ignored by previous government. There are several other sites identified for building dams, surely, we must go for these and leave KBD issue alone, which is a controversial project. Work on these sites where feasibility studies has been carried can be started in short span of time. But won’t we need funding to start these projects?</p>
<p style="text-align:justify;">We are also blessed with huge coal reserves, solar and wind sources and can exploit that potential. However, building dams will not only give us cheapest power with lowest capital investment but also help in conserving water which our agriculture needs desperately. All these projects need huge investments while present government is getting financial assistance from IMF to repay the previous debts and cover fiscal deficit. Opposition parties and so-called ‘political actors’ both, prefer a silence over the source of funding to start these projects. Although that is the most relevant and core issue, a bright Parliamentarian like you is expected to discuss about some plans to secure FDI.</p>
<p style="text-align:justify;">Dear Madam,</p>
<p style="text-align:justify;">Please, allow me to discuss your party’s role in effectively killing any possible source of investment in this country, desperately need in order to start new power projects. I can  recall your performance on various TV shows, while campaigning against Kerry-Luger legislation to the ‘imaginary corruption’ in rental power projects. You were also very vocal against investment in PIA, which has helped the company to get out of operating losses. While opposition is supposed to criticise government,   that does not have to be on cost of national interests to secure some quick points.</p>
<p style="text-align:justify;">You are very well aware that the government does not posses the resources to go ahead with these projects on its own and needs foreign investment desperately. Allow me to ask your good self to name any foreign investor which is willing to invest in power sector because of the havoc opposition creates in media. The investor is such a sensitive bird, which flees away sensing the slightest chance of instability. Who on earth will pump billion of dollars in a country where so called ‘political actors’ will turn the legitimate investor in to a devil’?</p>
<p style="text-align:justify;">In present economic situation, FDI is the only option left for government which can help in creation of jobs, built infrastructure and power projects. Would you like to invest your money in a country where you are certain of a media trial by ‘political actors’ and ending up before a court of law for ’supposed corruption’ rather than earning some profits? Opposition parties, the Judiciary and establishment, all have to be supportive of government in order to bring FDI and restore investor confidence in a country where a suicide bomber blow himself up every other day.</p>
<p style="text-align:justify;">What we are witnessing is exactly opposite. An honourable Senator and top office bearer of your own party has earned the repute of a ‘Bangali BaBa’ for giving the repeated failed dates for fall of elected government and military or judicial take over.  President of the country is under constant media trial and there is a never ending noise from opposition parties for a military or judicial take over. Pick up any mainstream news paper and one is forced to believe that elected government would be ousted before evening. Is this the way to convince investors to bring their billion dollars and invest in your country?</p>
<p style="text-align:justify;">Although sad but a bitter truth is that, opposition parties and some power players want to create controversies rather than playing any positive role. For a cover up of their designs, they should start debating over juicy non issues, like the one initiated by your good self. You won’t utter a single word as to how government should arrange funds. Does it need an Einstein to understand, what stops your good self from talking about investor confidence and FDI? Corruption does exist at certain levels in third world countries but that is not which makes Foreign Investors scared. This is instability of government and fear of discontinuation of policies which keeps investors away.</p>
<p style="text-align:justify;">Please, do take an honest moment and ask your good self about your and your party’s contribution in harassing and chasing away any potential investor.</p>
<p style="text-align:justify;">Dear Madam,</p>
<p style="text-align:justify;">You are right in asking government to come up with a comprehensive Energy and Water Conservation Plan. The funds are not going to fall from skies, we need to stop chasing and harassing investors and take them in to confidence. Why does not you party takes that initiative to host an investors conference. It should initiate this debate in parliament. An ‘all parties Parliamentarians group’ should inviting the investors from all over the world.</p>
<p style="text-align:justify;">In such a conference top opposition Parliamentarians, Honourable Judges of Superior Courts and leading Media Houses should assure the investors of their full support and cooperation. I assure you that Pakistan offers some of the best investment opportunities for foreign funds and they would be more than pleased to pick these opportunities. Your little cooperation with government on national interests can result in beginning several projects including coal development, dams’ construction, infrastructure development and job creation.</p>
<p style="text-align:justify;">If your good self doesn’t not has  knowledge of investors sentiment and fears about investing in Pakistan, then I would respectfully suggest you to have an orientation visit of Parliamentarians to some investment houses. You might be surprised to find that biggest hurdle is the havoc created by ‘power players’ and ‘political actors’ Can expect and end to this practice, more ‘open letters’ from you, Opposition Parties, Judiciary, Media Houses and Parliamentarians offering Prime Minister their support and cooperation in restoring investors confidence? We can only go ahead with infrastructure development in case there is the foreign investor. That will only happen if, we can start talk about real issue and that is ‘investor’s confidence’.</p>
<p style="text-align:justify;">I sincerely hope that your good self would be the first to initiate the debate in Parliament about ‘A Comprehensive FDI Policy’ and how to counter the elements discouraging foreign investment. I also hope that you would be suggesting measure to bring these ‘political actors’ under control which start making a devil out of every potential investor and do their media trial by singing ‘corruption’ mantra. Certainly in future, your good self and ‘Bangali Baba’ fame Senator of your party won’t be on ‘investors chasing’ spree’ on every TV talk show’, giving the dates of military take over and delivering sermons on ‘imaginary corruption’. Surely, you do care about Pakistan.</p>
<p style="text-align:justify;">Best Regards,</p>
<p style="text-align:justify;">Ahmad Nadeem Gehla</p>
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		<title>The Madness Un-Limited</title>
		<link>http://pegwithgehla.wordpress.com/2010/06/23/the-madness-un-limited/</link>
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		<pubDate>Wed, 23 Jun 2010 09:26:50 +0000</pubDate>
		<dc:creator>pegwithgehla</dc:creator>
				<category><![CDATA[Pakistan]]></category>
		<category><![CDATA[Politics]]></category>
		<category><![CDATA[Religion]]></category>
		<category><![CDATA[claric]]></category>
		<category><![CDATA[Extremism]]></category>
		<category><![CDATA[insanity]]></category>
		<category><![CDATA[judiciary in pakistan]]></category>
		<category><![CDATA[Lahore High Court orders to ban google]]></category>
		<category><![CDATA[talibn]]></category>

		<guid isPermaLink="false">http://pegwithgehla.wordpress.com/?p=211</guid>
		<description><![CDATA[Few days back two Saudi Clerics and advisor to Royalty issued a &#8216;Fatwa&#8217; (Islamic Edict) for women who wish to travel with male driver who is not their blood relative to breast feed the male so that he becomes their &#8230; <a href="http://pegwithgehla.wordpress.com/2010/06/23/the-madness-un-limited/">Continue reading <span class="meta-nav">&#8594;</span></a><img alt="" border="0" src="http://stats.wordpress.com/b.gif?host=pegwithgehla.wordpress.com&amp;blog=11210508&amp;post=211&amp;subd=pegwithgehla&amp;ref=&amp;feed=1" width="1" height="1" />]]></description>
			<content:encoded><![CDATA[<p style="text-align:justify;">Few days back two Saudi Clerics and advisor to Royalty issued a &#8216;Fatwa&#8217; (Islamic Edict) for women who wish to travel with male driver who is not their blood relative to breast feed the male so that he becomes their maternal relation. “The man should take the milk, but not directly from the breast of the woman,” Al Obeikan said. “He should drink it and then becomes a relative of the family, a fact that allows him to come in contact with the women without breaking Islam’s rules about mixing.” </p>
<p>While Al Obeikan advises that milk should be pumped and then given in a glass, another Saudi sheik, Abi Ishaq Al Huwaini, argues that men should suckle directly. This has given birth to another debate that how the women would prove before police authorities or in court that she had breast fed the male. Would she do so in presence of three adult male witnesses or a video of such act would be enough proof. &#8220;The thought of a huge hairy face at a woman&#8217;s breast does not evoke motherly or even brotherly feelings. It could go from the grotesque to the erotic but definitely not maternal.&#8221; the Saudi women rights group argues.</p>
<p>Is this the extreme of madness and giving bad name to Islam? Certainly NOT. Our holy brothers, the Taliban are chopping off heads of our soldiers and pump gasoline in their bodies before setting on fire to watch &#8216;body dance&#8217; in name of religion of peace. The Prophet of Islam (PBUH) would surely not that pleased on these news. But do these self proclaimed custodians of Islam care about the message of God and the teachings of messenger (PBUH)? Is not this what Church was doing with Christianity in medieval times? </p>
<p>If that all is not enough to make a joke of religion, than for what we have our Lordships in superior courts? Just recently Supreme Court passed a judgement declaring itself to be custodian of &#8216;imaginary&#8217; basic features of constitution. It also announced to judge the righteousness of lawmakers under article 62 and 63. That was followed by Lahore High Courts orders to ban Facebook and Youtube for having blasphemous content without even trying to understand that such content was not the property of these websites. </p>
<p>If you are thinking that Taliban or Saudi clerics are insane than you are definitely wrong. Yesterday Lahore High Court ordered to ban Yahoo, Google, Amazon, Hotmail and several other website for having blasphemous content. Yes, it is not a joke as it is difficult to imagine the insanity of Saudi clerics or Taliban, our Lordships are not behind in race. Apart from the debate that other website have such content or not or should be banned by court, does Google really has any content?</p>
<p>Who can tell our Holy Lordships in superior courts that Google is not even a website! The learned judge who passed this Talaban verdict does not posses the basic knowledge about internet and how does a search engine work. But it is a court order and must be complied by government otherwise Qazi Hussain Ahmad and Imran Khan are always ready for a &#8216;long march&#8217; to get court orders implemented. Who can explain to them that poor search engine got punished for no fault! </p>
<p>When we think that this might be the extreme of stupidity, they are there to surprise us, stay tuned, more to come and all in name of Islam. </p>
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		<title>Are You Ashamed of being Secular?</title>
		<link>http://pegwithgehla.wordpress.com/2010/06/21/are-you-ashamed-of-being-secular/</link>
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		<pubDate>Mon, 21 Jun 2010 10:30:45 +0000</pubDate>
		<dc:creator>pegwithgehla</dc:creator>
				<category><![CDATA[Civil Society]]></category>
		<category><![CDATA[Current Affairs]]></category>
		<category><![CDATA[Politics]]></category>
		<category><![CDATA[Religion]]></category>
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		<description><![CDATA[Social media is playing a vital role as a medium of communication which promotes critical thinking, sharing of new ideas and tolerance for dissenting opinions. Critical thinking includes identification of prejudice, propaganda, deception, distortion and disinformation fed to individuals or &#8230; <a href="http://pegwithgehla.wordpress.com/2010/06/21/are-you-ashamed-of-being-secular/">Continue reading <span class="meta-nav">&#8594;</span></a><img alt="" border="0" src="http://stats.wordpress.com/b.gif?host=pegwithgehla.wordpress.com&amp;blog=11210508&amp;post=204&amp;subd=pegwithgehla&amp;ref=&amp;feed=1" width="1" height="1" />]]></description>
			<content:encoded><![CDATA[<p style="text-align:justify;">Social media is playing a vital role as a medium of communication which promotes critical thinking, sharing of new ideas and tolerance for dissenting opinions. Critical thinking includes identification of prejudice, propaganda, deception, distortion and disinformation fed to individuals or masses in disguise of genuine. Yesterday I came across an interesting stats up-date by Governor Punjab, Sulaman Taseer on his Twitter page. It read, &#8221; The worst thing about a society permeated with religious fanatics, fundamentalists and extremest is that they make you ashamed of being normal.&#8221; Has media in Pakistan been successful in educating youth to the extent that they does not feel ashamed for being normal?</p>
<p>Information available to people in times of dictatorships, was manipulated, censored and most of the times rather purely disinformation, distortion and propaganda. But they were lucky to have the older generation of political workers, intellectuals, poets and media personals. Despite all atrocities of dictatorship, these selfless political workers, poets and intellectuals considered it as their duty to help youth in critical analysis of available information. This lead us to have the constitution of 1973, a social contract, which promised equity before law and protection of life, honour and property for every citizen.</p>
<p>After the judicial murder of elected Prime Minister ZA Bhutto, countless sacrificed their lives resisting the hypocritical Islamic rule of Zia ul Haq and religious bigotry introduced by the dictator. They were not relatives of Bhutto, or any other progressive or a secular leader. Most of them even might had never met Bhutto and majority of them had no aspirations for getting in to parliament. Certainly, another attraction &#8211; the culture of plots, Prado&#8217;s and getting incompetent relatives recruited on profitable posts had not yet infested the society.</p>
<p>The strength of these great mean and women was &#8211; their ideology. A commitment and passion for a just society, free of in-equality and exploitation. A society where rich doesn&#8217;t get richer and poor does not get poorer, where no one commits suicide because of hunger and no one is killed for having a different belief. A moderate, liberal and secular Pakistan where resources belong to people and the&#8217; social contract&#8217; called constitution guarantees equal opportunity and protection as a &#8216;welfare state&#8217;.</p>
<p>The biggest crime of Zia ul Haq, Judiciary and Establishment was to kill Bhutto and promote intolerance, extremism and violence. Even without a leader ideological movements continue and can survive the state atrocities. The Dictator&#8217;s most henious crime was to persecute the political workers, intellectuals, poets, writers and those who believed on critical thinking. The liberal, progressive and secular news papers, magazines and news-letters were banned. The political workers were executed, countless intellectuals, scholars and poets were tortured and imprisoned while others fled the country.</p>
<p>This persecution, shut the doors for critical thinking and youth had no option except to believe on distorted history taught in public institutions, propaganda of dishonest state sponsored intellectuals and interpretation of religion by political Mullah&#8217;s. The terrorists blowing themselves in streets, the extremists burning the minority villeges, the sectarian violent group labeling and killing others as &#8216;infidels&#8217; does not fall from skies. They are produce of the system where critical thinking becomes a crime, difference of opinion becomes intolerable and religion becomes a tool for &#8216;generating infidels&#8217; rather than preaching peace. Asking for a just, tolerant, secular and liberal society became synonymous to &#8216;infidelity&#8217;, as per Political Mullah&#8217;s interpretation and preachings. The ritual replaced the morality and illiterate violent extremists became the custodian of religion of peace and it continues until today.</p>
<p>The technological revolution and growth of social media have once again opened these doors which no dictatorship can reverse. This is an age of &#8216;over-information&#8217; as compared to the times back when there was lack of information. But still we are not out of wood, along with information comes disinformation. The corporate media giants depend on revenues from their &#8216;sponsors&#8217; and these sponsors have their corporate interests. In `capitalism as a religion&#8217;, Walter Benjamin characterizes capitalism not only as a phenomenon that is `influenced&#8217; by religion, as conventional sociological interpretations assume, but as one of `essentially religious&#8217; character.</p>
<p>This mix of religion and corporate profits in a capitalist society becomes more dangerous than censorship of some dictator. An alternate is social media and internet, but in underdeveloped country like Pakistan, internet is not accessible to masses, which depend on distortions and disinformation of corporate media giants. Despite the fact that social media in Pakistan is limited to relatively small number of educated youth, it can still play the role of opinion-maker and promote &#8216;critical thinking&#8217;.</p>
<p>In past, when young educated Pakistani&#8217;s started blogging, they met with strong resistance from forces of status-quo. However, threats, technical attacks, hate-mails and &#8216;fatwas&#8217; were not enough to stop the new born communication system in a global village. We have several blogs wich have higher number of visitors than most of English dailies published in country. There are think-tanks and online forums along with social media sites like Facebook and Twitter with huge Pakistani youth presence to interact and exchange views. This has become an effective counter measure against the forces which thrive on distortions, manipulation and exploitation in name of religion through corporate media.</p>
<p>Social media which was supposed to be a tool for promotion of &#8216;critical thinking&#8217; in educate masses, has mistakenly taken &#8216;criticism&#8217; as their major objective. This misunderstanding is not only causing confusion but also indirectly strengthening those who preach hatred and think democracy and secularism as an &#8216;infidel conspiracy against the pure&#8217;. Criticizing the government in power is always a favorite, not only in third world but also in developed countries. Those in power in elected governments in Pakistan are no angels but the &#8216;criticism&#8217; being two fold sword is also being used by forces of &#8216;status-quo&#8217; and religious fanatics against democracy, secularism and tolerance.</p>
<p>The gap still continue and even educated youth would jump on bandwagon of religious fanatics or switch to sermons of some intellectual selling spicy conspiracy theories with distorted facts. Even in this age of information, most of them lack the ability to &#8216;critically analyse&#8217; the information to understand the simple words like secularism, equality and tolerance. Just because their &#8216;favorite man on &#8216;show&#8217; has told them that these are &#8216;infidel conspiracies&#8221; to bring down Pakistan and take away its nuclear weapons. This lack of critical thinking in educating masses and espacially the youth is the biggest failure on part of reasonably dveloped social media in country.</p>
<p>This does not mean that social media should not criticize the government or stop voicing their concerns about influx of feudal, industrialists and business tycoons in political parties. The government policies should be criticized, the governance and rule of law must be called in to questioned. At the same time it is responsibility of social media to educate youth to enable them to think and analyse rather than becoming followers of some &#8216;celebrity&#8217; . By mixing the &#8216;criticism&#8217; and &#8216;critical thinking&#8217;, social media has been unable to educate youth to a level where they can proudly say that we want a secular, liberal and democratic society. A state of confidence &#8211; when they are not ashamed of being &#8216;normal&#8217; and able to reject the ideology of Zia-ul-Haq of making them slaves to interpretation of religion by extremist Mullah.</p>
<p>We have to differentiate in &#8216;criticism&#8217; from being &#8216;critical&#8217;, the former an &#8221;action&#8217; and the later an &#8216;ability&#8217; to evaluate&#8217; information and convert that information in to knowledge. That Knowledge will give us the confidence for standing up for a society which is based on justice and equality. The same strength youth needs more than ever before to counter extremism and achieve a liberal, secular and democratic society. We have to reject the Mullah&#8217;s interpretation of principles which are basis of &#8216;social contract&#8217; in a just society and evaluate these principles &#8216;critically&#8217;. Are you ashamed of being a &#8216;critical thinking&#8221; liberal, secular and democrat?</p>
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		<title>Inflation and Crony Capitalism in Pakistan</title>
		<link>http://pegwithgehla.wordpress.com/2010/06/13/184/</link>
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		<pubDate>Sun, 13 Jun 2010 06:48:12 +0000</pubDate>
		<dc:creator>pegwithgehla</dc:creator>
				<category><![CDATA[Civil Society]]></category>
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		<category><![CDATA[inflation]]></category>
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		<category><![CDATA[tax on gains from stock trading]]></category>
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		<guid isPermaLink="false">http://pegwithgehla.wordpress.com/?p=184</guid>
		<description><![CDATA[First appeared on CHOWK and Let Us Build Pakistan. Most of the third world states have inherited or adopted a crude form of &#8216;Capitalist System&#8217; from imperial powers. Implementation of this cloned &#8216;capitalism&#8217;, which is already a self destructive phenomenon, &#8230; <a href="http://pegwithgehla.wordpress.com/2010/06/13/184/">Continue reading <span class="meta-nav">&#8594;</span></a><img alt="" border="0" src="http://stats.wordpress.com/b.gif?host=pegwithgehla.wordpress.com&amp;blog=11210508&amp;post=184&amp;subd=pegwithgehla&amp;ref=&amp;feed=1" width="1" height="1" />]]></description>
			<content:encoded><![CDATA[<p style="text-align:justify;"><strong><em>F</em><em>irst appeared on </em></strong><a href="http://www.chowk.com/articles/inflation-and-crony-capitalism-in-pakistan-ahmad-nadeem.htm"><span style="color:#000000;"><strong><em>CHOWK</em></strong></span></a><strong><em> and Let Us Build Pakistan.</em></strong></p>
<p style="text-align:justify;"><strong><em><br />
</em></strong><em><strong> </strong></em><strong><em> </em></strong></p>
<p style="text-align:justify;"><strong><em>Most of the third world states have inherited or adopted a crude form of &#8216;Capitalist System&#8217; from imperial powers. Implementation of this cloned &#8216;capitalism&#8217;, which is already a self destructive phenomenon, without developing the necessary regulatory infrastructure has proved to be disastrous. The term &#8216;Crony Capitalism&#8217; refers to the situation where state institutions succumb to manipulation of cronies of capitalists and fail to perform their function of regulating the highly controversial capitalist system. The society is then left on mercy of those holding capital and their greed for profits. This &#8216;crony capitalism&#8217; gives birth to an unregulated exploitation and wide spread deprivation which turns in civil unrest.</em></strong></p>
<div style="text-align:justify;">
<p><strong><em>Economic situation in Pakistan can be a unique example of practicing an economic system, which has to be strictly regulated to prevent collapse, without having a functional regulatory infrastructure in place. As a result of the lack of corporate governance structure and even violating already unfair &#8216;capitalist market&#8217; principles, the system becomes rather cruel for those who earn through labour. Unregulated stock and property markets and rouge banking and investment sector is pushing economic inequality to the extent of a chaos and civil war.</em></strong></p>
<p><span style="font-family:arial, helvetica, sans-serif;"><strong><em> </em></strong></span></p>
<p><span style="line-height:normal;font-size:xx-small;"><strong><em>Trading in stock markets has nothing to do with the real business of a corporation. Companies get stockholders&#8217; money only when they sell new common stock, which is very rare. As observed by Professor Ralph Estes in &#8216;Tyranny of the Bottom Line&#8217;, &#8220;the stock market works like a used car market. When you buy a 1999 Ford, the money does not go to Ford but to the previous owner of the car. Ford gets the buyer&#8217;s money only when it sells a new car&#8221;.</em></strong></span></p>
<p><span style="font-size:x-small;"><strong><em> </em></strong></span></p>
<p><span style="font-style:normal;"><strong><em>The idea of &#8216;trading on stock market&#8217; is to create some liquidity so that shareholder can conveniently convert stocks in to cash. This activity which produces no real value is to be strictly regulated as the prices in stock markets are driven by principal of &#8216;demand and supply&#8217; and prone to manipulation. Those holding capital can create artificial demand to push prices up and vice versa in order to create money without producing anything or providing an services. </em></strong></span></p>
<p><strong><em> </em></strong><span style="font-weight:normal;"><span style="font-style:normal;"><strong><em><br />
</em> </strong><em><strong> </strong></em></span></span></p>
<p><em><strong> </strong><span style="font-weight:normal;"><span style="font-style:normal;"><strong>When capital creates capital, the real production remains missing while cash is available to be spent. When more money is available to spend than Gross National Produce of a state, it pushes the demand and prices higher. Higher demand and more cash shrinks the value of capital and adds in to inflation- the little money available to poor becomes insufficient even to afford them a decent meal. The market becomes a casino and cash- the king, this dilutes the value of money earned through labour. </strong></span></span></p>
<p><strong><span style="font-weight:normal;"><span style="font-style:normal;"><br />
</span></span></p>
<p><span style="font-weight:normal;"><span style="font-style:normal;">The biggest beneficiaries of this scam are Banks, Brokers, Hedge Funds and the so called &#8216;foreign investors&#8217; who sit on huge amounts of cash. The size of market capitalization in Pakistan has seen a peek of around 50-60 Billion US$. An average Hedge Fund in USA possesses several times cash than the entire market capitalization in Pakistan. What can be more seducing than a non-functional regulatory system to create an artificial demand or supply and make few quick billion?</span></span></p>
<p><span style="font-weight:normal;"><span style="font-style:normal;"><br />
</span></span></p>
<p><span style="font-weight:normal;"><span style="font-style:normal;">The &#8216;Chief Architect&#8217; of quick money scam was Shaukat Aziz, an imported banker who became Finance Minister and helped Privatization of State owned Banks. As soon as Banks went in to private sector they started pumping funds in to Stock Market&#8217;s through &#8216;investment companies&#8217; owned by them registering an increase of 14.1% and 19.9% in market capitalization in 2002 and 2003 respectively. In 2004 when he became Prime Minister and got complete control over economic affairs the growth in market capitalization reached 29.9% followed by 42%, 35% and 49.2% 2005, 2006 and 2007 respectively. Perhaps an unprecedented world record of two fold increase in overall index value. With so huge money created without any real &#8216;produce&#8217;, the inflation also touched the peak.</span></span></p>
<p><span style="font-weight:normal;"><span style="font-style:normal;"><br />
</span></span></p>
<p><span style="font-weight:normal;"><span style="font-style:normal;">With such massive increase in profits of stock traders and money &#8216;created&#8217; without actual economic activity, banks started a massive campaign of consumer finance; thus giving a false impression of &#8216;economic progress&#8217;. Although some consumer goods sectors benefited from this fake rally but soon it came to a collapse. When so called &#8216;foreign investor&#8217; and their &#8216;local cronies&#8217; packed their bags after earning hefty profits, it resulted in to collapse of foreign exchange reserves and 30% devolution in rupees value. We ended up at door steps of IMF for financial assistance and &#8216;Friends of Pakistan for &#8216;charity&#8217;.</span></span></p>
<p><span style="font-weight:normal;"><span style="font-style:normal;"><br />
</span></span></p>
<p><span style="font-weight:normal;"><span style="font-style:normal;">Assuming that addition of each 1,000 points in market capitalization adds 4/5 billion US$ in market capitalization and traders profits. That would mean that 11,000 points increase had added over US$ 40-50 Billion in to stock traders profits. That is almost equal to total exports of four years of &#8216;exceptional growth &#8216;engineered&#8217; by a crony banker. Just imagine of the impact, such huge profits created from capital would have had on dilution of money earned through labour. The inflation rose to 30%, number of those went under poverty line doubled and value of rupee faced a massive decline.</span></span></p>
<p><span style="font-weight:normal;"><span style="font-style:normal;"><br />
</span></span></p>
<p><span style="font-weight:normal;"><span style="font-style:normal;">The most cruel aspect of this manipulation is that these traders make profits through short selling even when market is falling. This lead to notorious 2006 crash in stock market, of which former Prime Minister is thought to be a master mind. That resulted in over US$50 Billion going in to pockets of super rich bankers and brokers. The &#8216;independent judiciary&#8217; which was restored through a popular movement on promise to investigate this scam, is sleeping over it while actively chasing the ghost of imaginary $60 Million assets of Asif Ali Zardari. The Securities and Exchange Commission has so far, not even been able to come up with some shady explanation, as is a practice in &#8216;land or pure&#8217;.</span></span></p>
<p><span style="font-weight:normal;"><span style="font-style:normal;"><br />
</span></span></p>
<p><span style="font-weight:normal;"><span style="font-style:normal;">This biggest scam in economic history, which added millions in to vicious cycle of poverty was not the last in history of Pakistan. The practice still continues. Some groups of overseas Pakistani&#8217;s, hedge funds and local investment companies, brokers and Banks continue creating money from thing air. A part of gains from market is later remitted overseas in form of foreign exchange. This results in to devolution of rupee and puts pressure on foreign exchange reserves. The rest of the &#8216;artificial&#8217; money goes in to profits of greedy bankers and accounts of brokers &#8211; thus fueling the inflation and making life more difficult for poor.</span></span></p>
<p><span style="font-weight:normal;"><span style="font-style:normal;"><br />
</span></span></p>
<p><span style="font-weight:normal;"><span style="font-style:normal;">Capitalist world which has for more efficient regulatory institutions, effective financial crime laws and non-partisan judiciary, is forced to introduce stricter regulations after current financial crisis. We, who adopted the &#8216;half cooked&#8217; system and have non-functional regulatory institutions are still living in past. In United States and Europe, the gains from capital markets are heavily taxed. The wisdom behind this taxation is to minimize the manipulation and direct a part of &#8216;artificially created&#8217; money to public sector development. This mechanism works as a &#8216;shock absorber&#8217; for a potential reaction against economic in-equality. </span></span></p>
<p><span style="font-weight:normal;"><span style="font-style:normal;"><br />
</span></span></p>
<p><span style="font-weight:normal;"><span style="font-style:normal;">Present government in Islamabad has shown a remarkable commitment to focus on targeted assistance for underprivileged hardcore poor and labrourers by introducing Benazir Income Support Program and Benazir Stock Option Scheme. But, if manipulation in &#8216;Capital Markets&#8217; to create the &#8216;artificial capital&#8217; continue, the benefits of these programs would be diluted by massive inflation and capital outflow. There is some hope in newly introduced &#8216;withholding tax&#8217; on &#8216;gains&#8217; from capital markets. But mere 10% tax might not help as in USA and Europe, it ranges from 30-40% and regulatory process is much transparent. Any government control inflation and fight poverty while such massive and untaxed amounts are being pumped in to economy without any real productivity.</span></span></p>
<p><span style="font-weight:normal;"><span style="font-style:normal;"><br />
</span></span></p>
<p><span style="font-weight:normal;"><span style="font-style:normal;">Unfortunately the levy of &#8216;with holding tax on capital markets profits has been challenged in Supreme Court by none else than the top opposition family in the country; Sharif Brothers. The government in waiting &#8211; with promises of delivering good governance while its head paying meager 5,000 as tax.Cynics are already speculation about the outcome from court &#8211; as Sharifs has been &#8216;lucky&#8217; to secure unprecedented &#8216;justice&#8217; in these times. It will be unfortunate if court blocks the government move which targets on getting a share of massive stock markets gains for public exchequer. </span></span></p>
<p><span style="font-weight:normal;"><span style="font-style:normal;"><br />
</span></span></p>
<p><span style="font-weight:normal;"><span style="font-style:normal;">Even court does so, it is not an end of the world. If sincere, government can introduce the new legislations and reform regulatory institution &#8211; the Securities and Exchange Commission. Although those who accumulated wealth in past would get away but it would be promising step for future. Keeping in view an average of per annum increase of 2,000 points addition in market capitalization means a US$ 10 Billion taxable income for future. A 30% rate of tax as in USA on profits from stocks trading could result in to an increase of around Rs. 250 Billion. Much bigger than entire government spendings or health and education funds or even much criticized increase in defense spendings. </span></span></p>
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<p><span style="font-weight:normal;"><span style="font-style:normal;">There is also a need to reorganize the Securities and Exchange Commission in to an efficient watch dog of securities markets. The SEC rules must be re-drawn and it&#8217;s regulatory powers needs to be independent and effective. There is also a need to redesign the monotony role of State Bank and investment/finance policies of banking and investment sectors in funding for &#8216;stock trade&#8217;. That money should be directed for SME&#8217;s and value addition in agriculture which is being invested in &#8216;gambling &#8216; on market floor and resulting to inflation and poverty. </span></span></p>
<p><span style="font-weight:normal;"><span style="font-style:normal;"><br />
</span></span></p>
<p style="text-align:justify;"><span style="font-weight:normal;"><span style="font-style:normal;">In capitalist world &#8211; we have to live by rules of those who &#8216;own the capital&#8217;, but violating the rules of &#8216;capitalism&#8217; itself does not yield anything except anarchy and chaos in society. We had enough of it and before a complete collapse occurs, we need to focus on &#8216;controlled exploitation&#8217; which is basis of capitalism. In case of uncontrolled explication against the rules set by genius who creates &#8216;capital from capital&#8217; and dilutes the value of labour &#8211; we are inviting a disaster which will push underprivileged to choose survival or death from starvation. Let us practice &#8216;capitalism&#8217; and help rich become super-rich. But this should not be a &#8216;crony-capitalism&#8217; on cost of a meal of poor, while rich create artificial wealth.</span></span></p>
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