Former generals see economic situation a threat

Rawalpindi: The Pakistan Ex-servicemen Association (PESA) on Tuesday said government’s non-developmental and wasteful expenditures have put the economy in a tailspin and the damage would be irreparable if immediate corrective measures were not taken.

Local currency has been eroding while value of dollar is sky rocketing since last five years turning debt trap in to death trap, it said.

Corruption, tax evasion, undue relaxations, waivers and borrowings have crossed all limits putting a question mark on the ability of our economic managers, said President PESA Lt. Gen. Ali Kuli Khan while chairing a meeting.

Vice Admiral Ahmad Tasnim, Air Marshal Masood Akhtar, Lt General Naeem Akbar, Brig Mian Mahmud, Brig Masud ul Hassan, Major Farouk Hameed Khan, Major Khurram Naveed Khan, and Naik Raja Muhammad Fazil were also present on the occasion.

The meeting noted that the alarming figures regarding state of economy indicate that we are on the brink of an economic collapse which will force the next government to accept humiliating terms of our Western ‘friends’ before they put something in our beggar’s bowl.

They said that almost all the public sector enterprises are being run of political considerations pushing them to bankruptcy but rulers seems preoccupied with winning votes only with revival of economy on the backburner.

The political and economic chaos will leave caretaker government will little options which will be a disaster for the country, the former military generals observed, adding that prevailing economic situation has emerged as a big threat to Pakistan.

The meeting demanded at elections should be held in time after giving all the independence to the Election Commission of Pakistan.They military strategists said that all political parties must be included in the process of formation of the caretaker government which is at present confined to two groups in the parliament.

The meeting observed that huge amount of funds are being misused in the name of charity which is nothing but pre-poll rigging.Masses can ensure a change only if they free themselves from stranglehold of feudal lords and influence of ‘baradari’ system. PESA members criticised plans to divide Punjab on ethnic basis, in a hurry, as it will add to the problems being faced by country.