In the Name of Allah, the Most Gracious, the Most Merciful
Grande Strategy

Economic Management - Cover

Rich with analyses and evidence, punctuated with anecdotes, Dreams and Hopes brings, into forefront the inssues of consumer welfare and producer survival. The fact that the agriculture sector, mainstay of growth in the 90s, has hardly received any public sector support is nothing short of tragedy and is well highlighted in the analysis. The exploitation of the farmers by the industrialist, manifested in the rather low price of cotton and non-payment to the sugarcane growers, could only lead to miseries and rising poverty in the rural areas. The environment problem has been posed rather interestingly that the World Bank is concerned with human capital, but not with natural capital.

The author very rightly points out that the capitalism and market forces can deliver only a competitive framework, and privatization also needs to be seen in that perspective. In a monopolistic or oligopolistic framework, and especially in an environment of poor governance, it only results in cronyism. How the industrialists and the financial managers have jointly led to the sick mill problem and helped in capital flight and, thereby, imposed cost of their follies on the common man is very well documented. The phrase that instead of value addition they have been responsible for value subtraction needs to be underlined. How the robber barons of the 60s have turned bandit capitalists tells the whole story of the mis-governance and rising income inequalities.

How the Black Bara markets (BB markets) played havoc is an interesting reading. The author asks a simple question that how can those, who use the infrastructure and all facilities of the country, refuse to make any contribution to the exchequer?

The economic theory tells us that, when market failure occurs, we should take measures to overcome the problem. But, in Pakistan, the normal market working is impeded. The study documents how the crooks and illegitimate operators, the dithering type indecisive players along with seriously psychological problem entrepreneurs, the speculators and middlemen and trade restricting arrangements have impeded the market mechanism in Pakistan.

In a satirical tone, the book analyses the problems and the policies that led us into a mess and shows that, even if our dreams have not yet come true, there is hope that, some day, they will be fulfilled.

Vision Without Glasses

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