Dream party?

Published June 25, 2017
The writer is a chartered accountant based in Islamabad.
The writer is a chartered accountant based in Islamabad.

‘POST-TRUTH’, ‘Fake News’ and ‘Alternative Facts’ might have gained popularity recently, but have been around, with or without their popular current monikers, for quite a while. In my view, they have been a key part of the electoral process ever since someone brilliantly dreamt up the one person-one vote gimmick. And don’t get me wrong, I definitely am criticising the backbone of electoral democracy, the revered elections which gives the winners the all powerful licence to rule for the stipulated no of years with impunity.

To allay the cynics and the critics, does anyone even remember the electoral promises of the major political parties in Pakistan, or has anyone lately read or revisited the manifestos issued by them in 2013? More to the point is there a process, even informal, which periodically, at the minimum annually, compares the performance of the ruling parties, at the national and the provincial levels, with the promises included in their manifestos?

The best part is that come next election, there will be again a set of manifestos which will carefully either avoid any analysis of actual performance with the previous manifesto, or if there is an analysis, it will be built entirely on alternative facts and will quickly move on to make even more fantastic promises. The ruling elite unequivocally understand that voters have extremely short memories, not more than three months, are naive and extremely gullible.

Let’s give the masses an option to vote on the principles of truth.

So to change all that, let us, the proud-to- be-educated civic society, challenge the status quo and form a political party; come next election let’s give the masses an option to vote on the principles of truth and honesty. As a rule while party membership will be for everyone, graduation will be a minimum requirement for holding any party position and a Master’s degree will be a prerequisite for a party ticket to contest elections.

Additionally, all applicants for party tickets will be required to submit an income and wealth statement, which may be subjected to independent verification to ensure it is commensurate with the incumbent’s lifestyle.

Finally, all candidates will ensure strict compliance with the ECP’s limits for election campaign spending, and be required to submit a complete record of sources and payments of such expenditure to the party. Assuming we cross all these hurdles — nothing short of a miracle — let’s prepare an outline of the party manifesto.

The party strictly believes in progressive tax and considering the current state of the economy, proposes to increase income tax rates on all kind of incomes related to wealth to between 40 per cent to 50pc, coupled with withdrawal of all special exemptions and credits, except those related to further investments in manufacturing.

The party intends to rationalise indirect taxes with a view to providing targeted relief to the poorest of the society, subsequent to a detailed reconciliation of taxes recovered with GDP, and withholding taxes recovered and deposited. Its intention is to significantly increase taxes on luxury items such as imported consumables and equipment and usage thereof. For purposes of redirecting investment towards manufacturing, the thrust of taxation will be towards service sectors such as telephony and hotels.

Load-shedding has reached alarming proportions, unfortunately, however, the solution is cheap electricity and not electricity at any cost. In addition, to ensure employment and put the economy on the right track it is necessary that power needs of manufacturing are fully met and at internationally competitive rates.

Accordingly, the party proposes to review all existing power generation and disposing expensive units; there is no point throwing good money after bad. In addition, the party proposes commencing work on all viable generation projects linked to hydel, solar, wind and Thar coal. These projects are expected to take a number of years to complete — during which load-shedding is projected to increase; however the party commits that manufacturing sector and agriculture won’t be subjected to load-shedding and will be billed at competitive rates. Electricity, if available, to other consumers will be supplied on the principle of recovering all balance costs, without subsidy. Note import of private generators and usage has been discussed earlier.

Trade deficit has reached unmanageable levels. The only solution for previous largesse is a reduction in current and future consumption. The party subject to a detailed review of current data expects to introduce rationing of necessities at subsidised cost for the deserving segments of society, while taxing all other consumption. Under all probability, the subsidy on wheat will also be revisited.

Okay, no point going any further, even I won’t vote for our party. Electoral democracy is not a game for the righteous. Agreed?

The writer is a chartered accountant based in Islamabad.

syed.bakhtiyarkazmi@gmail.com

Published in Dawn, June 25th, 2017

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