Islamabad: The Pakistan Economy Watch (PEW) today said the existing system is exploitative, anti-masses and tilted in favor of nobility which is damaging country steadily.  Masses are being squeezed to promote the interests of irresponsible elite who have become parasites on the national resources, it said.

Accountability, reforms and increasing tax base have become catchy slogans, while privatization has become a tool to plunder national resources, said Dr. Murtaza Mughal, President PEW.

K-Electric is getting cheap gas, low-cost electricity from national grid, subsidy, loans worth 130 billion rupees, but it has failed to deliver which has been proved through harsh statements by federal and provincial ministers, he added.

Dr. Murtaza Mughal said that despite failed privatization of K-Electric the government is trying to sell profit making power companies, including that of Islamabad, Lahore, Faisalabad, Muzaffargarh etc.

The privatization of power distribution companies amounts to leave masses on the mercy of merciless capitalists. A dysfunctional Nepra will never be able to safeguard interests of masses reeling under severe loadshedding, after sale of power utilities to an influential banker.

Some experts suggest that circular debt in allowed to swell to get benefit from those seeking payment while the bill of a director of a gas company is never delayed.

Dr. Murtaza Mughal said that FBR missed last year’s target of 2065 billion rupees by 25 billion, but current target was set at Rs 3.1 trillion to please IMF which will meet the fate of earlier targets. The tax system is not transparent or just, it keeps on rewarding aristocracy on the cost of masses which is pushing country towards disaster.