"Theek hai jee, humesha aisa he hota hai" (It's OK, things have always been the same)

[MenInG]

This was the term I heard a few times when on my visit to Pakistan recently.

And I can understand where this comes from.

When you feel you cannot change anything, when you think you are powerless - then you say this to justify what you do and move on with life.

This is what many in Pakistan are happy to do and continue with their lives.

This is what is wrong.

From the time you land in Pakistan and walk through the sorry excuse for an airport named after Allama Iqbal, to the roads outside and to the day to lives of all in Pakistan, this is the mantra.

Some may say I am being harsh on a country for which my forefathers put in their lives on the line but I am merely stating the truth.

Apart from some individuals who have devoted their lives to betterment of others, most of the masses are busy going about their business and do not care who they hurt and how they get to what they want.

On the chaotic roads in Pakistan (which tells another story) are millions driving around on motor bikes, cars etc, trying to get somewhere and seems to give an impression of a country which is busy. But the fact is that Pakistan is on its knees - so what good is this activity?

And I will stay away from politics although what I saw around Zaman Park makes my blood boil.

I feel that as a nation, Pakistanis have lost their way. There is no desire to improve themselves and the only thing that keeps them going is a promise of some future in a foreign country.

How else can one explain the complete breakdown of our institutions, the chaos on the roads, the total lack of law and order when it comes to all walks of life?

Surely we have educated people in Pakistan who can see what is wrong but choose to do nothing about it?

I have been travelling to Pakistan for a while now - the county which has given me my identity - but things have never been this bad.

 

[greatest]

I share your sentiments.The only hope now is for the youth to step up...now or never!

“When the people fear the government, that's tyranny; when the government fears the people, that's freedom.”

 

[Major]

Surely we have educated people in Pakistan who can see what is wrong but choose to do nothing about it?

what are they suppose to do?
You were one of the lucky ones that was able to get out of this mess.

Many of us weren't and this mess will take us down.

 

[Stewie]

what are they suppose to do?
You were one of the lucky ones that was able to get out of this mess.

Many of us weren't and this mess will take us down.

I feel sorry for you but the truth is only nations can fix problems from within. If you don’t know what to do then maybe you deserve to be in this situation.

Sorry if I sound harsh but that’s how I see it. Most nations who have thrived in this world have not waited for someone else to come and fix their problems. [MENTION=8]MIG[/MENTION] is absolutely right about our mentality. We are a nation simply happy with the status quo and being told what to do. We accept the injustices and wrongs around us because “well that’s how it has always been”

Not the right approach if you want to bring a change.

 

[MenInG]

what are they suppose to do?
You were one of the lucky ones that was able to get out of this mess.

Many of us weren't and this mess will take us down.

Bro - this is not a personal attack on you.

Everyone has different circumstances.

My beef is with those like myself who have some sort of power and choose to do nothing.

 

[Major]

I feel sorry for you but the truth is only nations can fix problems from within. If you don’t know what to do then maybe you deserve to be in this situation.

Sorry if I sound harsh but that’s how I see it. Most nations who have thrived in this world have not waited for someone else to come and fix their problems. [MENTION=8]MIG[/MENTION] is absolutely right about our mentality. We are a nation simply happy with the status quo and being told what to do. We accept the injustices and wrongs around us because “well that’s how it has always been”

Not the right approach if you want to bring a change.

People dont change, its the leaders that enforce change that people than adjust to.

When ever someone says that people themselves need to change, they are speaking from a POV where they moved or were born in West, saw people following the right way, and started to believe that everything right is happening due to the people.

However I believe that people are condition, and this conditioning is done by the leaders and govt.

For example, traffic violations in west, if you violate traffic laws, you are imposed with much heavy fines. This conditions you to follow traffic laws.

Now for traffic laws in pindi and in islamabad, if you violate the traffic laws even by an inch where you are on zebra crossing, the islamabad traffic police imposes a fine on your immiedetly. While in Pindi, you can have your car at the zebra crossing and no one would care. Now when you visit both cities you will see that in Islamabad, no one dares to park his car on zebra crossing, they follow most traffic rules there. Why? Because they have been conditioned.

People will always be people, you need leaders and govt to adopt strict laws and rules which people than follow.

3 years ago, there was a plastic ban and everyone had to follow. During covid, when govt made SOPs very strict, people followed.

You cant expect people to change themselves. If i had it my way, I would not want to pay a single dime in taxes. No one does. Its the govts job to come down and take those taxes from you and place penalties if we dont pay up.

And let me tell you another thing, if such a leader comes in Pakistan, no one will support that person. We dont like people who teach us righteous because the righteous life is much hard to follow.

The country is doomed, even if some righteous person shows up, we will use religion card against him to have him removed.

 

[Stewie]

People dont change, its the leaders that enforce change that people than adjust to.

When ever someone says that people themselves need to change, they are speaking from a POV where they moved or were born in West, saw people following the right way, and started to believe that everything right is happening due to the people.

However I believe that people are condition, and this conditioning is done by the leaders and govt.

For example, traffic violations in west, if you violate traffic laws, you are imposed with much heavy fines. This conditions you to follow traffic laws.

Now for traffic laws in pindi and in islamabad, if you violate the traffic laws even by an inch where you are on zebra crossing, the islamabad traffic police imposes a fine on your immiedetly. While in Pindi, you can have your car at the zebra crossing and no one would care. Now when you visit both cities you will see that in Islamabad, no one dares to park his car on zebra crossing, they follow most traffic rules there. Why? Because they have been conditioned.

People will always be people, you need leaders and govt to adopt strict laws and rules which people than follow.

3 years ago, there was a plastic ban and everyone had to follow. During covid, when govt made SOPs very strict, people followed.

You cant expect people to change themselves. If i had it my way, I would not want to pay a single dime in taxes. No one does. Its the govts job to come down and take those taxes from you and place penalties if we dont pay up.

And let me tell you another thing, if such a leader comes in Pakistan, no one will support that person. We dont like people who teach us righteous because the righteous life is much hard to follow.

The country is doomed, even if some righteous person shows up, we will use religion card against him to have him removed.

…. And who appoints the leaders?
I believe therein is the answer to the riddle. We have been happy with whomever they put in charge of us or we have simply learnt to accept them. Whether it’s a dictator, a corrupt morally bankrupt thief or a completely useless and inefficient beauracrat.

So we are actually responsible for this. That’s why democracy gets all the praise. If the leaders are not doing well, get them out. But we never had democracy. We were told it was democracy. But we have failed to wake up and accept it is not. The leaders and people and parties who claim they follow democracy to come into office, do not have democracy even within their own organizations. We have dynastic politicians who treat their parties like their subjects and personal belonging. Now we have Bilawal and Maryam ready to keep that tradition going and believe it or not we have people who actually support them

So I’ll ask again. Do we blame these so called leaders or do we take our fate into our own hands and decide to pick the right ones?

I’ll actually put the blame on the generation before mine and ours for this situation. We have failed to take action and take matters into our own hands. If it’s the leaders we blame, we still failed because we failed to produce the right leaders.

 

[Major]

…. And who appoints the leaders?
I believe therein is the answer to the riddle. We have been happy with whomever they put in charge of us or we have simply learnt to accept them. Whether it’s a dictator, a corrupt morally bankrupt thief or a completely useless and inefficient beauracrat.

So we are actually responsible for this. That’s why democracy gets all the praise. If the leaders are not doing well, get them out. But we never had democracy. We were told it was democracy. But we have failed to wake up and accept it is not. The leaders and people and parties who claim they follow democracy to come into office, do not have democracy even within their own organizations. We have dynastic politicians who treat their parties like their subjects and personal belonging. Now we have Bilawal and Maryam ready to keep that tradition going and believe it or not we have people who actually support them

So I’ll ask again. Do we blame these so called leaders or do we take our fate into our own hands and decide to pick the right ones?

I’ll actually put the blame on the generation before mine and ours for this situation. We have failed to take action and take matters into our own hands. If it’s the leaders we blame, we still failed because we failed to produce the right leaders.

elections are complicated thing. Democracy on paper looks very simple when in reality is very much complicated especially in our part of the world.

One of the reasons why I dont indulge in political party discussions and ideology is because 99% of the posters here dont understand or know the basis of each party. They have never lived here nor understand, all they get on social media is what they believe in. ANd this is what the generation before you did. They fell for the propoganda.

50 years ago, Bhutto was trying to nationalize the economy, and had that happened, today the economic mess we are in we would had not been in this mess. Only the initial years of hardship would had been there that could had been bared with.

His nationalization was not taken lightly by the business community, and they would make their own party called the PML or PMLN. This party's basis was the Punjabi business people. Their politicians were people from the business community and union leaders of their plazas, associations and businesses. When PMLN got elected, to them the country never mattered, all that mattered was business interest.

23 years ago, I as a child wanted fruit loops, and couldn't find them. Why? Because we didnt import that many stuff back and I as a child used to think that was bad. 15 years later, instead of producing our own fruit loops, we ended up importing as if we are a rich country.

Most of these economic policies where we started importing more and more goods came from PMLN. This model of business was surely going to collapse one day and it has today.

The business community hated Bhutto, and now the same business community hates Nawaz Shareef.

Maybe whats happening in Pakistan is good. The country needs to collapse once and for all, so that before right decisions are made, we have already sunken to rock bottom and no other opposition can use that against us.

Many think PTI is the answer, when it is not. PTI has the same old garbage that has been recycled. They have those same old policy makers that were part of Zardari's, Mushraffaes and Nawaz regime and played a part in destroying the economy.

 

[Stewie]

elections are complicated thing. Democracy on paper looks very simple when in reality is very much complicated especially in our part of the world.

One of the reasons why I dont indulge in political party discussions and ideology is because 99% of the posters here dont understand or know the basis of each party. They have never lived here nor understand, all they get on social media is what they believe in. ANd this is what the generation before you did. They fell for the propoganda.

50 years ago, Bhutto was trying to nationalize the economy, and had that happened, today the economic mess we are in we would had not been in this mess. Only the initial years of hardship would had been there that could had been bared with.

His nationalization was not taken lightly by the business community, and they would make their own party called the PML or PMLN. This party's basis was the Punjabi business people. Their politicians were people from the business community and union leaders of their plazas, associations and businesses. When PMLN got elected, to them the country never mattered, all that mattered was business interest.

23 years ago, I as a child wanted fruit loops, and couldn't find them. Why? Because we didnt import that many stuff back and I as a child used to think that was bad. 15 years later, instead of producing our own fruit loops, we ended up importing as if we are a rich country.

Most of these economic policies where we started importing more and more goods came from PMLN. This model of business was surely going to collapse one day and it has today.

The business community hated Bhutto, and now the same business community hates Nawaz Shareef.

Maybe whats happening in Pakistan is good. The country needs to collapse once and for all, so that before right decisions are made, we have already sunken to rock bottom and no other opposition can use that against us.

Many think PTI is the answer, when it is not. PTI has the same old garbage that has been recycled. They have those same old policy makers that were part of Zardari's, Mushraffaes and Nawaz regime and played a part in destroying the economy.

This is a long rant of an excuse and symbolic of why we are where we are. You are dismissive of the situation and yet fail to accept you can get that control back. If PTI is not the answer, fine, find someone else who is. But for God’s sake don’t put your eggs in the basket of tried and test thieves and goons.

Also do not simply accept that elections are complicated or our establishment is too strong. You will blame PTI but then you will support your own party when they make deals with the same establishment that brought PTI and then dismissed it. Same establishment that has killed BB and brought Zia and Musharraf. You will be happy when your favorite party gets into bed with them.

But cry when others do. So you see you are representative of our nations faults right there. I think you have nothing to blame but yourself.

 

[Cpt. Rishwat]

I share your sentiments.The only hope now is for the youth to step up...now or never!

“When the people fear the government, that's tyranny; when the government fears the people, that's freedom.”

Maybe it's just my family, but the youth are never going to step up over there because they are doing fine as it is. The stuff like bad roads or my favourite bugbear - litter - is a civic matter. It comes from the top, these things have to be preached by govts or mullahs if they are the ones with the clout.

 

[uppercut]

But cry when others do. So you see you are representative of our nations faults right there. I think you have nothing to blame but yourself.

Thats harsh. Unrealistic to expect people who are in survival mode to get involved in politics and contribute to cleaning the system. That's squarely the responsibility of the previous generations to ensure that they turnover the country in a better shape than when they inherited it. Can't expect young people to just go out there and fix it. Not much else they can do other than voting.

 

[MenInG]

What I have seen is the rich not caring at all as long as their lives are not effected.

The poor can go to hell.

 

[Stewie]

Thats harsh. Unrealistic to expect people who are in survival mode to get involved in politics and contribute to cleaning the system. That's squarely the responsibility of the previous generations to ensure that they turnover the country in a better shape than when they inherited it. Can't expect young people to just go out there and fix it. Not much else they can do other than voting.

Did I say get involved in politics?

My comment was more along the lines of what MIG here observed. Our people do not take action. BY action, i dont mean go fight the election. I dont mean go join politics and become a political leader.
I mean we should use the power of our vote more effectively!

Use your critical thinking skills to see where we are going and whether what is happening is right or not. write to your local representative. relay your concerns. threaten to vote for the other guy if he is not doing his job or if the party is found engaged in corruption or serious offenses. You can easily form a community block and protest such crap. In advanced democracies this is how the power of the vote works. You guys should see how candidates come begging for votes here in the US. in Pakistan they are treated like lords. they show contempt for common man who has given them all the power and authority.

YOU will hear the word "electables" a lot in pakistan politics. where do you think they came from? who gave them power? we did. why do you think they are our only choice? because we did not choose to usurp their power through our vote.

These are some very general observations. There are other means of being proactive too. Question things! dont just accept them.

Our people have fallen numb to this madness. I was born in the 70s and I have lived most of my life in the US but I have friends and family in Pakistan. When I speak with friends who I went to school with over there, their attitude is so non chalant when they see this political circus, its not even funny. They just shrug their shoulders and say "oye kuj nai je hona, hamesha ainj hi honda ai, kadi onu uttey ker dio, kadi onu thalley ker dio" (talking about how the establishment uses the political parties) they seem all so resigned to their fate.

IT INFURIATES ME! I know i am part of the problem. If I feel so much why dont I go back and try to fix it. I know i dont have the courage to do so. But the people who live and suffer through this nonsense, they should. If my circumstances were different and I had to live in Pakistan, I would definitely be more active and use the power of my vote much more effectively.

 

[BunnyRabbit]

What you experienced yesterday is just the upper surface. The real struggle and frustration is the system from inside, the nepotism, the negligence, the preferential attitude, the ignorance, the corruption etc etc.

People who have to cultivate their lives while dealing with the problems with no visible way of getting justice or equity is even more bothersome.

The basic thing is, The leaders are from the people. In addition to that, the external forces that asphyxiates the potential for any improvement only escalates it further.

P.S not saying you wouldn't have experienced this stuff before.

 

[daytrader]

"Theek hai jee humesha aisa he hota hai" - this is a scary line. It indicates that people have been so used to corruption now that it's been normalized. Not their fault when this has been happening for generations.

 

[Major]

Did I say get involved in politics?

My comment was more along the lines of what MIG here observed. Our people do not take action. BY action, i dont mean go fight the election. I dont mean go join politics and become a political leader.
I mean we should use the power of our vote more effectively!

Use your critical thinking skills to see where we are going and whether what is happening is right or not. write to your local representative. relay your concerns. threaten to vote for the other guy if he is not doing his job or if the party is found engaged in corruption or serious offenses. You can easily form a community block and protest such crap. In advanced democracies this is how the power of the vote works. You guys should see how candidates come begging for votes here in the US. in Pakistan they are treated like lords. they show contempt for common man who has given them all the power and authority.

YOU will hear the word "electables" a lot in pakistan politics. where do you think they came from? who gave them power? we did. why do you think they are our only choice? because we did not choose to usurp their power through our vote.

These are some very general observations. There are other means of being proactive too. Question things! dont just accept them.

Our people have fallen numb to this madness. I was born in the 70s and I have lived most of my life in the US but I have friends and family in Pakistan. When I speak with friends who I went to school with over there, their attitude is so non chalant when they see this political circus, its not even funny. They just shrug their shoulders and say "oye kuj nai je hona, hamesha ainj hi honda ai, kadi onu uttey ker dio, kadi onu thalley ker dio" (talking about how the establishment uses the political parties) they seem all so resigned to their fate.

IT INFURIATES ME! I know i am part of the problem. If I feel so much why dont I go back and try to fix it. I know i dont have the courage to do so. But the people who live and suffer through this nonsense, they should. If my circumstances were different and I had to live in Pakistan, I would definitely be more active and use the power of my vote much more effectively.

Alot of these issues can be fixed if being a politician was not glamorized.

Now adays, if you dont end up getting a govt job, people become politician only for the glamor or celebrity status or just to have power.

Any lunatic from an area can stand for election and be elected as MNA. Now, to solve to problems of the country, its the MNA's job, as he needs to be able to find out the issue common people face and than convey it in the parliament, where proper action is taken.

What happens is that someone who wants power gets himself elected as MNA. Instead of working on policies, he makes you a new road or gets you a gas pipeline in your street, and that is enough for people to become happy. Also, they do such things during the end of their term, not in the middle or beginning.

There are alot of red tapeism in our country that forces us to give bribes. Pakistan is probably the only country in the world where you need to get 3 death certificates made for a person who has died. I was able to get 2 made and didn't get the 3rd one made for my dad.

2 years later, needed the 3rd death certificate for some issue, and when i read about how to get that death certificate made (union council), it basically said that if you didnt get this death certificate made within 2-3 months of the persons death, you will be required to file a case in court and go through the whole court process, which can take up months. Even though I had 2 other death certificates of the same person, yet I would have to follow this long process and even hire a lawyer for it.

However, the govt employee sitting in the municipality office said that pay up Rs. 5000, and the death certificate would get made under 1 week. He said this Rs. 5000 is just their fee and they will sort out everything in court.

Now here is the thing i learned. Even with the govt condition of going through court if you exceed 2-3 months since the person died, a death certificate can still be easily be made. But govt placed that condition where you have to go to court and govt employees will follow that rule.

The govt employee can choose to do it for me for free of charge on the basis of compassion. But he wont. He will take his bribe and get a work done under 1 week.

Corruption is a complicated thing in this country, and can only be eradicated if sensible people who understand the daily issues and have good education are elected as MNA.

Its sad that basic facilities like good roads and pipes is what the public demands at minimum. Ad this is something that all parties have been doing, PTI, PPP and PMLN

 

[MenInG]

Lahore has this ganda naala (ie open drain) flowing through it. People just casually refer to it and move on. I had the misfortune of walking next to it as roads were blocked and I needed to get somewhere.

How can people just live with this open sewer for YEARS and think nothing of it?

Shehbaz Sharif has been noted to have made Lahore beautiful - why can he not see this? Why can't others who live in that city not see it and ask their politicians to fix it?

 

[Stewie]

Lahore has this ganda naala (ie open drain) flowing through it. People just casually refer to it and move on. I had the misfortune of walking next to it as roads were blocked and I needed to get somewhere.

How can people just live with this open sewer for YEARS and think nothing of it?

Shehbaz Sharif has been noted to have made Lahore beautiful - why can he not see this? Why can't others who live in that city not see it and ask their politicians to fix it?

My ancestral home in Lahore is in a community off the bank of that nala.

Years ago, in the 80s my late dada suggested covering the part of the nala running by our community with concrete constructions and offset the cost by renting out the space for shops. I still think it was a great idea but I guess nobody has had the vision to take on that project. Why would they when there are easier ways to make money in Pakistan.. especially in real estate.

 

[MenInG]

My ancestral home in Lahore is in a community off the bank of that nala.

Years ago, in the 80s my late dada suggested covering the part of the nala running by our community with concrete constructions and offset the cost by renting out the space for shops. I still think it was a great idea but I guess nobody has had the vision to take on that project. Why would they when there are easier ways to make money in Pakistan.. especially in real estate.

Hit the nail on the head.

 

[MenInG]

Had some more conversations with people close to the situation in Lahore and the general consensus is that most locals have lost all interest in politics.

The grey economy is running on its own and people are earning their keep from that. Which explains the state of Lahore and Pakistan in general.

 

[Stewie]

Had some more conversations with people close to the situation in Lahore and the general consensus is that most locals have lost all interest in politics.

The grey economy is running on its own and people are earning their keep from that. Which explains the state of Lahore and Pakistan in general.

I don’t know about that, [MENTION=93712]MenInG[/MENTION]
We had a pretty massive turnout for the PTI rally, I hear. I am guessing the “youthiay” are still alive and kicking and want something done.

 

[mazkhan]

The only reason these people say this because they rely on remittances and relatives abroad,

Either that or they have set a life path where they will move abroad to the west and gcc countries, to look for their living that is our biggest export , people fleeing to other countries.

So education and physical work the majority give up and have become set up as lazy and sitting around doing nothing all day .

they have become set in their ways that we will live of remittances or move or send one of our sons abroad and he will send money back for a khoti , stabiliser, flat screen tv and toyota corolla. Eventhough the person sending remittances is most likely living a dogs life working hard in the west or gcc.


Close the remittances and close the migration visa routes and watch all hell break loose .

 

[MenInG]

Had some more conversations with people close to the situation in Lahore and the general consensus is that most locals have lost all interest in politics.

The grey economy is running on its own and people are earning their keep from that. Which explains the state of Lahore and Pakistan in general.

I have spoken about this grey/shadow economy but never realized how big it was (is)!

==

The informal sector’s contribution to Pakistan’s economy is remarkable as it adds a handsome volume of approximately $661 billion, tantamount to 35.6 per cent of GDP. According to the International Labour Organisation, it constitutes 75pc and 68pc of jobs in rural and urban areas; however, it is pregnant with issues like child and bonded labour, gender-based discrimination, and insecurities in the workplace.

Moreover, it embodies small and medium enterprises (SMEs) that are populated by self-employed entrepreneurs, small businesses, informal associations, and street vendors in agriculture and micro-enterprise setups, and thus, they tend to be more resilient to economic downturns. Despite its volume and contribution to the economy, the informal sector creates financial vulnerabilities for formal setups.

Let’s consider the formal market. The Growth Enterprise Market (GEM) board of the Pakistan Stock Exchange (PSX) is a sub-market for SMEs and high-growth companies looking to go public. The GEM board was established following Alternative Investment Market in London, which itself was established in 1995 by the London Stock Exchange as a sub-market to provide a market for SMEs, business startups, and incubates to raise capital and provide a platform for investors to access returns from small businesses.

It has become one of the world’s leading growth markets in the UK for smaller companies, with over 3,000 listed companies from over 70 countries. Though companies listed on the GEM board in Pakistan are subject to less stringent listing criteria and regulations as compared to the ones listed on the main board of the PSX, to the present date, only three SMEs made it to the GEM board, i.e. Pak Agro Packaging Ltd, Supernet Ltd and Universal Network Systems.

Informal setups are backed by special interest groups through a complex mix of tax laws and regulatory compliances for the formal sector

This anomaly has a handful of reasons, like investor participation seems minuscule as only 0.3 million accounts are registered with the National Clearing Company of Pakistan Limited out of around 57.5m bank accounts. This indicates less than 0.5pc of investor participation at the PSX forum.

Investor participation, driven by incentivisation and a less stringent regulatory burden to the informal sector, is visible in real estate property pricing bubbles, higher forex trading returns, and inflationary pressure. These avenues produce ample easy money with the least risk and low regularity compliances under state patronage.

The Imran Khan-led government launched a construction amnesty scheme to promote housing to generate jobs and fill the gap of millions of housing unit shortages. According to Zameen.com, since 2018, the average per square feet price has increased from Rs3,300 to 7,000, which is 26pc returns per annum in open plots investment in Islamabad.

It not only doubled the real estate prices in other cities such as Karachi, Lahore, Peshawar and Faisalabad but also shifted the investment chunk toward the real estate sector. Many industrialists shifted their attention to the real estate sector.

Similarly, the gold price in December 2017 was Rs56,200 per tola, but now it is Rs201,000 per tola, which is more than 50pc return per annum in gold investment. Likewise, on 14 Jan 2018, the exchange rate of rupees to the dollar was Rs110 to a dollar, and now it is Rs278 — an average of 30-35pc returns per annum.

On the flip side, KSE-100 Index provided compounded annual returns of 14.55pc, and industrial profit was recorded at less than 15pc per annum. The inflation rate in 2018 was 5.08pc, and now it is above 30pc. If the inflation-adjusted returns per annum are calculated, it can be said that the real return an investor receives in the formal market and industrial setup is negative.

Pakistan already has one of the highest income tax rates in the world as far as corporations are concerned, which further depicts a decrease in the wealth of formal sector investors. Consequently, since 2013, more than 200 companies have been delisted from PSX. Only 526 companies are listed on the main board, and just three SMEs are listed on the GEM board; however, the total number of registered companies with the Securities and Exchange Commission of Pakistan now stands at 176,000.

The prominent explanation for delisting is a cost-benefit trade-off. If a listed firm’s marginal benefit/cost ratio is less than shedding avoidable costs, this may lead to de-capitalisation.

Nevertheless, investor participation is more in informal sectors in which most of the businesses are unregistered. The Asian Development Bank (ADB) confirms that more than 90pc of the SMEs that operate in the informal sector are set up with the help of family members and friends.

These businesses generally operate in agri-business, food chain, agri-machinery, and textile sectors. Some of these raise money for seasonal products and services and wind up their business when the season ends. These setups are more visible during harvest in rural areas and in food chain industries in urban areas. They earn money by stocking up on necessities like sugar, flour, wheat, grains, oils etc.

They employ the staff on a seasonal or contractual basis and then lay them off. Furthermore, fewer salaries are paid to them compared to minimum wages in cash form without any social security i.e. health insurance and accommodation. Consequently, social and financial vulnerabilities for unemployed youth are increasing drastically, resulting in modern slavery.

Informalisation is proliferated to avoid income tax, intense documentation and regulation, which further fuels decapitalisation and insecurities in the labour market. These informal setups are backed by special interest groups of local politicians, families of bureaucrats, and land elites through a complex mix of tax laws and regulatory compliances for the formal sector.

DAWN

 

[MenInG]

The Pakistani tragedy continues.

 

[Stewie]

bezameer or beshaoor qaum. If we take this laying down and without a response, we deserve to be enslaved by our military establishment for good.