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Bankrupt institutions cannot provide a firm foundation to economy

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Islamabad : Former President ICCI Shahid Rasheed Butt on Sunday said the vote of confidence has reduced embarrassment caused by defeat in the Senate elections but it has increased political tensions which is not good for masses and the struggling economy.

The development will not resolve issues confronting the government unless it takes steps to bring masses and opposition closer as the political landscape is only getting more volatile, he said.

Shahid Rasheed Butt said that the government should keep political differences in limits, accept its weakness in resolving issues of the masses, and stop blaming constitutional institutions like Election Commission and start confidence-building measures.

Masses are not ready to buy the mantra of corruption anymore and they do not take announcements and promises regarding relief seriously.

The government can no longer ignore the plight of the masses which are facing unprecedented inflation and other multiple problems, he observed.

He said that attacks on the opposition leaders will not help the government improve the situation in any way, rather it will add to polarisation in the country.

Those who attacked opposition leaders must be arrested and the government must condemn this incident. There is absolutely no justification to take the law into one’s own hands.

The government will not be able to legislate without the help of the opposition parties which will block the planned reforms in many sectors which are necessary to improve the economy and satisfy the IMF to start releasing loan tranche, he observed.

Butt said that the energy sector is considered backbone of any economy but our energy sector cannot operate without continued tariff hike and hefty subsidies.

How can a failed and bankrupt energy sector provide solid foundations for an economy, he questioned.

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