Articles of the year 2020

The most damaging crime committed by Nawaz Sharif was the removal of exchange controls on the movement of currency and the subsequent export of huge amounts of dollars, out of Pakistan. The instances of Ayyan Ali, a budding starlit, stopped at Islamabad airport boarding a flight to Dubai with half a million dollars in her luggage. on enquiry she stated that this was one of 57 trips, for the same purpose and were carried out on the instructions of Asif Zardari. Unfortunately she maintained that no law was broken as there was no law manning the freedom of movement of foreign exchange. However, she was unable to produce the source of the funds and no one came forward to claim the dollars. She also went on to say, there were sixty other models doing the same run to Dubai.

A closer look at the effect of these physical transfers of dollars, should be taken into consideration when the attack on the rupee is felt by the economy of Pakistan. Pakistan is a net importer, meaning the import of oil and edible oil greatly surpass the exports. To the tune of 7 billion dollars a year this is shown in the downward slide of the rupee. While the dollar will continue to rise in the face of this requirement to pay for the imports and the slide is inexorable, due to the balance of payments. However, the behaviour of the Ayyan Ali’s and their mentors makes it doubly painful, for the rest of the population has to pay increasingly higher prices for their petrol and edible oil, as both items are paid for in hard currency. The large outflow of dollars through these unofficial channels creates an additional demand, raising the price of the dollar even higher. Zardari and Nawaz have to move their illegal funds out of Pakistan and into properties abroad, out of sight of the Pakistani authorities.

This aspect has not been taken into consideration when the actions of the politicians is being scrutinised. All the properties owned in Dubai by Pakistanis are all funds illegally secreted abroad by politicians who cannot give a money trail, showing the legality. An important dictum states, that if any object in ones possession does not have proof of legal ownership, then that object is illegal and can be subject to the necessary provisions of the law.

Nawaz Sharif on the floor of the assembly gave a long, winded “explanation” of his Avonfield properties, which amounted to gibberish. But the attemptive MNAs dutifully nodded their assent, giving an appearance of understanding and consent. This remains unchallenged by the necessary authorities. Similarly all the properties owned by Pakistanis in Dubai are funds belonging to politicians, where sources are dubious. Most of all these funds belong to the two parties in power. Both would be unable to divide the sources legally enough to prevent confiscation.

Surprisingly, this constant rise in the cost of petrol and edible oil and corresponding fall in the rupee which effects all Pakistanis, has not been calculated. The increase in all commodities has not been realised by the population at large. They have been misled to believe that it is the general effects of inflation. It is a pity that the truth is hidden from them, otherwise the same political landmarks, like Jati Umra and Bilawal house would have been destroyed, and their occupants hanged. The true hero is the Pakistani worker toiling abroad under subhuman conditions emitting the funds back to Pakistan. These remittences are the only explanation for the continued survival of Pakistan. Without these funds we would have collapse long ago.
The cost to the poor cannot be calculated, for there is no measure of misery. However, anger is quantifiable and may be the only weapon available to the masses.