Additional information
by Sarfraz H. Khawaja (Author)
Public Policy does not have teeth but it bites' Is that what happens? Pakistan is in a perpetual state of slide and is facing existential crises where the Max Weber's principles of political economy would seem to be helpless. During the last ten years since 2000, Country is groaning under huge pressure of socio-economic decline. By the end of June 2013, Pakistan is burdened with US$60.87 billion foreign debt and Rupees 8,800 billion of internal debt. Foreign investment has declined to US$ 853 million from US$3.7 billion in 2008. The foreign exchange reserves with the Central Bank amounts to US$ 6.5 billion which is barely enough for 60 days of imports. During the next 12 months, US$ 5 billion had to be given back to IMF as loan repayment. The GDP ratio is 3.7% whereas inflation is 9%. The country is also facing trade deficit of US$ 12.54 billion. The stuck up loans of local banks have amounted to the tune of one trillion rupees. Is this enough of biting? This is only part of economic mismanagement notwithstanding the bad governess, thousands of lives lost in terrorist attacks, deteriorating general crime situation and above all the massive corruption in the public sector organizations, miss-management in government offices and institutions. The extreme shortage of gas, petrol and electricity particularly for industry and ordinary household has demonstrated the negligence and inefficiency of the government. The entire country suffers from electricity load shedding of 16 hours or more in 24 hours depending on geographical proximity of the resident. The province of Punjab is the worst hit and the province of Sindh is the least sufferer. This all happened in the presence and declaration of different public policies of several ministries, sectors and departments including monetary and fiscal policies announced from time to time with regular intervals. What happens if there is no public policy? The solace is far away because the non policy situation is no better option than the declared bad Policy. The awful governance, poverty, unemployment, target killings in Karachi, unrest in Baluchistan and above all USA Drone attacks and so on are the results of no public policies. Pakistan has been a very serious victim of terrorist activities since 2000 but unfortunately no policy stipulation has been enacted as a Policy against Terrorism.
