Monday, December 21, 2009

Punjab’s financial collapse is the result of N League’s plunder and surrender policy: Moonis Elahi

Lahore (December-19, 2009) Punjab Government’s recent decision of putting up valuable public assets for sale at throw away prices clearly reflects the failure of its extremely flawed administrative and financial policies. This was stated yesterday by senior leader of Pakistan Muslim League Moonis Elahi while talking to various delegations of PML leaders and workers at PML House, Lahore. While talking to party men, Moonis Elahi remarked that N-League had now turned into “Nelaam (auction) League” as it was auctioning out highly valuable public property to compensate for its government’s own un-forgivable financial blunders, faux pas and follies.

Moonis Elahi further pointed out that the provincial economy had virtually collapsed and that the province of Punjab which was an investors’ haven until two years back was now considered a no-go area by both foreign as well as domestic investors and financial institutions. He cited the recently expressed IMF concerns on the excessive over-drafts of Punjab government and the extreme financial crisis currently prevalent in Pakistan’s largest province as a clear testimonial of Punjab government’s incompetence and failure in the eyes of the outside world. He said that the IMF had urged the federal government to take a serious stock of Punjab’s current financial crisis.

Moonis Elahi declared that the people of Punjab now wanted to know that why was their province heading for financial bankruptcy especially when there had been hardly any public sector spending on development works in last two years. He said that it was the people’s right to know that how could a financially surplus province till 2007, now in 2009 was on the brink of an economic disaster. He said that in the current financial year after depleting all available funds and resources of the province in the first six months on its flawed and failed schemes and after leaving the provincial kitty empty the N-League government had now set its eyes on valuable public assets in order to continue on its financial rampage.

He said that while the financial health of Punjab was already alarmingly poor the N-League government had planned to render a further blow to the ailing economy by doling out expensive public assets in the name of fund-raising. This “Punjab for Sale” scheme like N League’s earlier tandoor and sasti-roti schemes will wipe out whatever little hope is left for Punjab’s financial recovery remarked Moonis Elahi. The plunder and surrender policy of Punjab government has resulted in an alarming escalation of crimes rate and suicide cases in Punjab and the people of Punjab were now in no mood to forgive N league for these atrocities, Moonis Elahi declared.