03 May, 2015
According to an article in a recent issue of Newsweek magazine, the super rich of the world with dubious sources of income are buying up palatial apartments in all the big cities of the world which they consider to be the safest means of investment for their ill-gotten wealth.
This reminds me of the time when the properties and assets of some of our own politicians, in foreign countries, were made public. When confronted with incisive questioning by our TV anchors, most of such politicians came up with very convenient but flimsy excuses. Thus a former Minister for Water and Power, who had launched the rental power schemes in 2009, and had, coincidently, acquired two apartments in London, answered in a TV show that his brothers had some great businesses running in UK which yielded the money for those apartments.
Later on, billions of rupees were discovered to have been embezzled in the proposed projects. But nothing has come of all the inquiries in this regard; however, as a result thereof, WAPDA has gone bankrupt. WAPDA has suffered the fate of GTS (government transport service) in late seventies which was eaten ‘alive’ by its employees. The day our electricity department and its bureaucracy start functioning adequately, Pakistan will become an economic tiger of Asia, like all those other countries.