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March 26, 2020

You don't matter

Newspost

 
March 26, 2020

It seems the government has no clue on how the real economy works. In the relief package announced the businesses that matter most have been ignored – the domestic manufacturing industry. These are firms that employ millions of labourers all over the country. They cannot fire any employees, need to pay all their staff, pay all their working capital loans, incur fixed costs, pay social security dues, EOBI – all overheads etc. These are the companies that need the most help from the government since they employ millions of labourers and hundreds and thousands of blue-collared salaried staff and are cooperating fully during the coronavirus crisis. These are local steel, cement, tiles, auto manufacturers, and beverages, plastics, glass, domestic appliance manufacturers. They were not even mentioned – it’s only exporters who matter. Only journalist Muhammad Malik asked a tough question about their well being but there was no direct answer from the PM. By ignoring this segment, the government is effectively abandoning the millions of employees plus the daily wagers and contract labour they employ making their claims of having the daily wage earner's interest at heart a complete sham.

Even the central bank considers new potential entrants as the blue-eyed baby. The message to The existing industrial manufacturing sector is clear: You have invested; you are here; you cannot leave; you don't matter.

A local manufacturer

Karachi