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Democracy Roars?

Thursday, 23 May 2013 16:28 Minahil K.

The triumph of the tiger whilst a seemingly déjà vu experience, marks a new era in the democratic history of Pakistan. Pakistan’s 65-year narrative has taken a turn for the better: the nation has explicitly expressed its will to survive as it exercised its voting rights and a government has completed its five year tenure. A care-taker set-up is in place, anxiously waiting to hand over the burden of state responsibility to the victor. The care-takers with their lack of public mandate have managed to keep things buoyant and have on purpose, refrained from tackling difficult challenges. Perhaps, it is this role only that is suited to them and the bold decision-making falls best within the domain of a government that is voted into power by the masses.

100 billion dollars in a wink!

Friday, 17 May 2013 16:23 Enum Naseer

The country is passing through a decisive period in history and this time, it’s not a false alarm- it’s a make or break situation. What is trifling in the current context is that the economy (according to Gallup Pakistan) gets only 6% of on-air time in talk shows. It is generally posited that talking about the economy can be a dry, even boring exercise for audiences that have in recent years found the sensationalism in mainstream talk shows addictive and that a discussion of the economy should be reserved for Sunday brunches in elite circles is very telling. Even though there is little point in asserting the all-pervasive effects and the ubiquitous shadow of economic policies in the daily troubles of the average Joe, it is needed. If the people don’t take interest and if the debate becomes an elitist pastime, what incentive is there for governments today and in the future, to awaken from their catatonic stupor?

THE SHARIF ‘SIAPA’

Wednesday, 15 May 2013 15:30 Ghalib Sultan

‘Siapa’ is a wonderfully expressive Punjabi word almost impossible to accurately translate into English. It means a development or situation full of interconnected problems, difficulties, contradictions and intrigues — not easy to resolve and not easy to live with. Why should the elections that catapulted the Sharifs to power be a ‘siapa’?

For starters there is the track record of their past stints in power. The first time around they had a President who was a thorough gentleman dedicated to democracy and ready to help them govern. There was also an army Chief who was a thorough professional with zero interest in politics ready to support in every way. The elder Sharif went into totally unnecessary confrontations with them egged on with the sycophants and jesters around him. He took the situation to the point where there was a ludicrous confrontation between the institutions that were a phone call away from each other. The result was an Army brokered arrangement with both the President and the Sharif departing ignominiously.

Mirage Revisited

Tuesday, 30 April 2013 15:47 Enum Naseer

Feelings of doom and gloom continue to overshadow Pakistan’s success with democracy. With the country just days away from its moment of truth- the elections, enthusiastic political advertisements continue to consume much of the space on print, electronic and social media to promise peace and prosperity. Yet, the economy of Pakistan stands in the way of making governance a smooth sailing experience for any of the contestants. As a gripping paradox, the economy has not ceased to amaze analysts. Macro-economic indicators leave no doubt that the future of the country is in dire straits.

Islamic Finance: The Way Ahead?

Tuesday, 23 April 2013 15:38 Enum Naseer

Growth is robust and prospects look bright for the Islamic banking industry. In the past two decades of its less than forty-year existence, remarkable development has taken the USD 150 billion peripheral industry to one surpassing the USD 1.5 trillion level. Though the challenge to validate expectations is colossal, the trend represents a paradigm shift in the form of a quiet revolution- one that is likely to persist in the near future.