LAHORE: The election manifestos of the three major political parties -- Pakistan People’s Party, Pakistan Muslim League (Nawaz) and Pakistan Muslim League (Quaid-i-Azam) — vying for the Jan 8 polls have utterly failed to attract businessmen who feel that the documents are high in rhetoric and low in substance.

The businessmen say the manifestos do not offer any concrete programme to address the challenges facing economy which has potential to slow down its growth.

“None of the political party has anything new or unique to offer,” says a former president of the Lahore Chamber of Commerce and Industry (LCCI) who asked not to be identified.

“As far as their stand on liberalisation, privatisation and deregulation of economy is concerned, all parties are unanimous in the continuity of free market economic policies.

“None of the parties, including the Pakistan People’s Party, speak of nationalisation or reversal of free market policies. Therefore, it will make a little difference if one party comes to power or the other,” says Akbar Sheikh, chairman-elect, All-Pakistan Textile Mills Association (Punjab).

But businessmen are in agreement that political parties can attract businesses and distinguish themselves from one another by clearly articulating a comprehensive mechanism for implementation these policies and explaining to the market as to how do they propose to push forward a free economy.

“So far, no major or smaller political party has come up with any specific economic programme, focussing promotion and expansion of manufacturing, export-oriented industry or for that matter any other area of national economy.

The manifestos of all the parties talk about an economically developed and prosperous Pakistan, but none lays out any firm strategy to achieve this objective,” says a leading sportswear exporter from Sialkot and Pakistan Readymade Garments Manufacturers Association (PRGMEA) chairman, Ijaz Khokhar.

A study of the manifestos of PPP and PML-N, the two major opposition parties, reveals the rhetoric used by the authors of these documents to conceal their lack of an economic vision for the country. Both the manifestos talk about same issues — unemployment, poverty, inflation, energy shortages, etc, in general and in vague terms, without putting forward any specific strategy needed to address them both in the short- and long-term.

The manufacturers, especially textile exporters, are already wary of PML-Q’s economic policies which promoted ad hocism in the market and its reluctance to address their issues during the past three years or so.

“The PML-Q has lost a great opportunity to lay the foundation of a strong, sustainable economic growth despite the fact that it did not confront any serious challenge or threat during its tenure,” says the ex-LCCI president.

The PPP manifesto, according to a leather exporter, however distinguishes itself from the election documents of its two main competitors — the PML-Q and PML-N — because it has reinvented its own original populist slogan roti, kapra aur makaan for the upcoming polls. “But like the PML-Q and PML-N election programme, it too has fallen short of elaborating as to what extent it intends to fulfil its commitment,” he says.

“If any party wants to win over the business, it has to come up with some specific programme on all issues facing the economy -- trade deficit, stagnant exports, weakening manufacturing base, unemployment, credit and utility costs, energy crisis, etc. Unless political parties do so, how would a businessman know as to which party is offering what.

From the business point of view, all parties are equally good or bad for us because none offers any concrete solution to address the issues facing economy,” says Khokhar.

An executive of a cement factory says the parties have failed to give any specific economic programme because they considered it unnecessary.

“The political parties know that it is not their economic programme or election manifesto that would help them win over popular support and vote, it is their public perception which plays a crucial role in their electoral success or failure at the end of the day, and such a perception is built by a popular slogan, such as given by the PPP,” he maintains.