This refers to Khalil Ahmad's article, "Economic challenges facing Dr Hafeez Sheikh," appeared in Business Recorder of July 9. He has rightly pinpointed the lack of corporate governance, skewed up government policies, financial mismanagement and utter incompetence across the board in every function of the state.
Besides nepotism, rampant corruption and appointments of cronies to senior positions in loss-making public sector organisations, as many of challenges, nay impediments, facing Dr Sheikh to steer the country out of the dire economic plight and degradation.
The other serious issue and challenge to streamline the system and implement financial discipline in the management of national economy, will come from the lunatic attitude, lack of intelligence to comprehend and inability to fathom the complex economic inconsistencies, anomalies, untenable and airy - fairy rhetorical notions of the ruling coalition government and on the part of his own cabinet colleagues in this regard.
The most daunting task of Dr Sheikh would be to push for the privatisation of loss-making, white elephants, incompetently managed and financial disasters such as the Pakistan Steel Mills, Oil and Gas Development Company, Pakistan State Oil and Pakistan International Airline, all being run by sycophant, incompetent, non-professional and non-entities, who neither have the professional attributes nor command any respect within the industry or corporate world, they operate in.
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