Technocrat setup on the cards: Razak Khatti
It is writing on the wall that the current regime would lose its political capital entirely if it implements the IMF Program, and if secures it politics then the country would default
By Chronicler
Islamabad
Senior journalist, Abdul Razak Khatti has claimed that a new experiment is on the cards by the powerful elite to bring technocrat system in the country to avoid default for securing loan facility from the International Monetary Fund (IMF)
In his latest video log on Youtube on his channel on Sunday the senior journalist has stated that despite hectic efforts of Pakistan to get financial assistance from the world at large, the financial crisis continues to prevail.
Even the Kingdom of Saudi Arabia has linked its financial assistance to Pakistan with the program of the IMF.
So if Pakistan does not fulfil the requirement of the IMF, then the financial stability would not see the light of the day, KHatti stated.
He said the foremost challenge being faced by the current regime is that it needs to enhance the price of electricity and gas to fulfil the demands of the IMF. Moreover, the international money lender is also asking for enhancing tax collection. Otherwise no loan facility would be extended to it, he further stated.
Millions of rupees daily losses occurring due to demurrages: Currently, a large number of ships are anchored at the Karachi Port, but as there is no money to open letter of credit (LC), the merchandise loaded on these ships cannot be unloaded.
The traders are facing millions of rupees losses on account of demurrages. The losses are so high on the financial fronts that the government isn’t in the position to cover them, he lamented.
On the other hand, the internal rift in the ranks and files of ruling PML-N is widening. The financial challenges are so massive and gigantic in nature, that it has become very difficult to manage them.
When there would be elections for the provincial assemblies of Punjab and KP in March. If the government wants to approach the IMF, then it would surrender before its demands.
If these conditions are fulfilled by the government, then there would be massive inflation in the country, Khatti predicted.
Caption: Abdul Razak Khatti, a senior journalist and known political analyst of Pakistan.
Meanwhile, as a consequence of the highest inflation level, the PTI would score a solid majority in the elections of both the provincial assemblies, he further stated.
If the current regime doesn’t approach the IMF for financial assistance, then there would be absolute financial disorder.
Two extreme choices for ruling PML-N: These are two extreme choices which are available for the current PML-N led regime and there has left no other choice for it to come out of the crisis.
According to him his sources have revealed that the establishment has asked the government to contact the IMF in 15 to 20 days and negotiate with it.
The establishment has asked the government to fulfill the demands of the IMF to avoid default.
In the meantime when the government would try to improve the financial condition of the country, then the ruling party would itself be in hot water.
This is the reason that the government isn’t taking a clear cut stance on the matter. According to the sources, the steps are being taken to bring a technocrat setup in the country, he revealed.
Hafeez Sheikh being considered for the top slot: According to him the new prime minister of Pakistan would be Hafeez Shaikh. His interview has already been conducted for this slot.
Former governor State Bank of Pakistan, Reza Baqir, would be the finance minister, and Forogh Naseem, would be the law minister in the technocrat setup, he stated.
Abid Zubairi is being considered for the position of Attorney General of Pakistan. Likewise, there are other figures who would be a part of the technocrat setup. The name of Shabbar Zaidi is also under consideration for the position of Chairman of FBR, he revealed in his latest vlog.
In other words by implementing the technocrat formula, the country would be at the disposal of the IMF, Khatti feared.
There are some serious issues at the moment in Pakistan. If politics is protected then the financial destruction is the writing on the wall and if steps are taken to improve the financial condition of the country, then the politics would have to be buried.
There arises a question in this backdrop as there is no provision of technocrat government in the Constitution of Pakistan, he highlighted a factor.
No provision in the Constitution for technocrat setup: How this system would be brought in, is a million dollar question. Will they go out of the box to go ahead with these new arrangements?
According to him the sources further state that the role of the Supreme Court of Pakistan would be very important in this process.
Matter like it would eventually be taken to the apex court soon if the new system is implemented, he stated. However, if the current government decides to contact the IMF, then the move to bring technocrat setup would perhaps not be implemented.
But if the incumbent government opts to negotiate with the IMF and agrees to its demands, then the ruling party would lose almost everything in the elections for the provincial assemblies of KP and Punjab, Khatti predicted.
Reaction of political parties on technocrat system: He said it would be interesting to note what would be the reaction of the political parties including PML-N and the PTI over this matter.
“If the technocrat system is brought in, a few technocrats of these political parties may be accommodated in it. However, it is not possible to accommodate all these persons in it,” he said.
According to Khatti who is also known as ARK in the journalistic community, it is an open secret as to how the political elite, the military elite and the capitalists of the country looted the national exchequer. They have deprived the common countrymen from almost every means of life. In the past the foreign loans were rarely used for developmental projects and rather used for other purposes, he stated.
“At the time when we are at the edge of default, a new experiment is being made.
It would be ideal that before bringing a technocratic system, all the stakeholders would be called for a meeting. In this meeting every stakeholder should confess his crime and they should seek apology from the public.
Afterwards a new beginning should be launched. However, it seems that nothing like it would happen and again history would be repeated in which there would be two key players in this process,” he concluded.
