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Alfred Marshall defined economics as a study of mankind in the ordinary business of life. We have land, labour, capital and entrepreneurs. We have hardworking labour force, entrepreneurs - Pakistanis as well as foreigners - who are willing to invest but there's no planning to put these factors at work.
Pakistan is basically an agriculture country but unfortunately land in this country is mainly owned by feudal lords and there is hardly any share of the tiller of the soil. The PTI manifesto is silent about land reforms. Ayub's and Bhutto's land reforms failed because these were simply paper works. But one thing is sure that during Ayub's regime, Karachi became the hub of the textile industries; the number of textile units touched 300 mark. Unfortunately, however, a number of these units have been turned into warehouses.
Gandhi's close Congressman, Vinoid Bhai, did not go for a ministerial post after freedom. He opted to travel on foot throughout India to persuade big landlords to donate land to peasants. And he had been quite successful in his endeavour!

Copyright Business Recorder, 2012

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