Makhdomm Syed Yousuf Raza Gilani has taken oath of office alone, as even five weeks after the elections, the coalition partners do not appear to have reached consensus on the choice of cabinet colleagues for Gilani.
Being the major partner of coalition, with Makhdoom Gilani as Prime Minister, they do have an irrefutable claim to these spots. However, the other parties also assert their right to these plums, as a price for their support in the House. Hopefully these issues will be resolved soon, as there are a multitude of more pressing problems facing the nation, that cannot brook any delay in tackling them.
SOME OF THE BIGGEST OF THESE PROBLEMS, THOUGH COMMON KNOWLEDGE, ARE ENUMERATED BELOW, AS A REMINDER:
a) Power shortages and constant load shedding, throughout the country, but, particularly in the mega city of Karachi.
-- Apart from the excruciating hardships suffered by the general populace, the shut down of industries is draining out the life-blood of national economy, which will have far-reaching consequences not only for the present, but also the future generations. Falling exports are aggravating the adverse balance of payments situation, fanning the inflation, with a rise in unemployment and social unrest. The cumulative effect of these and numerous other major and minor shocks put the entire economic structure of the country in jeopardy.
b) Global upheaval that has been caused by;(i) recession in USA,(ii)Resultant setbacks to world banking system, (iii) Rising cost of oil, food and other commodities in international markets, (iv) falling value of US dollar against other world currencies, (v) Stiff competition under WTO, marginalising weaker producers, and (vi) Emergence of China and India as two quasi-superpowers upsetting the world pecking order and established patterns of economic relationships, as well as the supply and demand equilibrium.
The impact of these external factors on Pakistan's GNP could be disastrous, unless careful and timely measures are taken to control the situation.
c) The budget deficits, balance of payments, rising inflation, food shortages, etc, etc, are pressing problems that a new administration will have to address immediately for the fourth quarter of the current fiscal, as well as a budget for the next. The role of World Bank, ADB, and other donor agencies will be vital to stabilise the shaky foundations of our present structure. Unless capable hands are at the helm of affairs, it will be a gigantic task under the present global turmoil, to sail through to safety.
To be continued
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