Corporate window: An economy of paradoxes

Eagerly yearning for stability, businesses in Pakistan seem to be somewhat disengaged from political parties’ manifesto-crafting processes. Part of the reason might be that they anticipate that no single party will secure more than 30 per cent votes and envisage the formation of a coalition government following the current interim administration. “While it may sound somewhat cynical, the stark reality is that in the last two decades, Pakistan has witnessed the rule of each of the three major parties, both independently and in coalitions. Despite lofty promises of transformative change, enduring issues such as mounting debt, narrow tax net, low productivity levels, excessive public spending and persistent corruption have, in many cases, only worsened. What can be the true worth of political manifestos in the light of this?” questioned a prominent business magnate. “A ‘charter of economy’, a policy framework of a minimum consensus policy plan, may be better suited to address the current demands. Such a programme, endorsed by all major political parties, could provide a foundation for policy consistency. It has a potential to genuinely improve the business environment substantially,” he recommended.