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Situationer: Uncertainty, political leanings plague bureaucracy

  The Punjab bureaucracy is under a cloud of uncertainty as most senior officers are apprehensive about their fates owing to the rapid changes in political governments, and have thus put decision-making on the backburner, eventually leaving the public to suffer. A spate of transfers and postings is expected in the province following another change in the government, and Chaudhry Parvez Elahi positioning the “willing workers” in the bureaucracy to run the province’s affairs as per his vision after assuming the office of Punjab chief minister. These transfers and postings cost the government exchequer heavily. While there are bureaucrats who play smart and align themselves with every new political administration, there are some who have been exposed through their past record or decisions and actions made during the previous government’s short stint in power. A new breed of officers also emerged in the past few years, who were accused of getting ‘lucrative postings’ by bribing th...

Rupee freefall continues as PKR slides to 240 in interbank

  The rupee’s losses continued on Thursday as the local currency dropped to a record low of Rs240.5 against the dollar in the interbank market. According to the Forex Association of Pakistan (FAP), the rupee lost 4.48, or 1.89 per cent, compared to yesterday’s close of 236.02 by 12:03pm. Consequently, the rupee was trading at 240.5 against the greenback. Exchange Companies Association of Pakistan General Secretary Zafar Paracha laid the blame squarely on the country’s political situation and the government’s lack of action. “The country’s political situation is bad but the government and political parties appear to be unconcerned. They are only concerned with saving their government,” he rued. Paracha pointed out that ratings agencies had  downgraded  Pakistan’s outlook while the tranche expected to be released by the International Monetary Fund (IMF) had reportedly been delayed. In addition, there was uncertainty about whether the Fund’s executive board would demand more...