I joined Institute of Business Administration (IBA) Karachi
in 1973. This is the premier Business School established in Pakistan with the
financial assistance and curriculum guidelines provided by one of the leading Business
Schools of United States. My first employment was with a corporate having majority
stake from United States also. My second job was with a group that was one of
the top 25 richest families as described by the then Prime Minister Zufikar Ali
Bhutto. Subsequently, I set up my own business but faced virtual bankruptcy due
to the worst linguistic riots in Karachi during 1986-92. During this turmoil
period I started contributing articles in local media as economic analyst. Since then I have graduated from
economic/financial analyst to commentator on political economy and geopolitics.
During this quarter of a century, the key sectors in focus have been textiles
and clothing, energy, commercial banks, fertilizer and country’s economy, its
relationship with multilateral lenders, global mergers and acquisitions and
their impact on local corporate sector. Another key area of interest has been
ongoing privatization in the country that began in early nineties.
In my life I have witnessed three wars between Pakistan and
India and conversion of eastern part of the country into Bangladesh. In Middle
East expansion of Israel through occupation of parts of Arab countries and Arabs
realizing power of crude oil. Islamic revolution in Iran and since then the country
faced economic sanctions. Iraq’s attack on Iran and a decade long war financed
by Kuwait and Saudi Arabia. Iraq’s attack on Kuwait, 9/11 incidenent, US attack
on Iraq and Afghanistan, toppling of regimes in Iraq and Libya and
proliferation of Islamic militant groups. If Taliban were accused for buying
arms from drug money ISIL is also alleged for acquiring arms in exchange for
stolen oil from Iraqi fields and selling it in the global markets.
As regards the corporate sector, there has been a shift in paradigm,
slogan changing to optimizing profit from maximizing profit. Mergers and
acquisitions are creating ever stronger conglomerates classified under
Fortune-500 and Fortune-50 companies. It is often alleged that these companies
own 90 percent of global wealth directly or indirectly. These entities are also
alleged for playing a major role in installing and toppling of governments in
least developed and even developing countries.
People living in South Asia, particularly areas now comprising,
India, Pakistan and Bangladesh are familiar with East India Company becoming a
monster, end of more than 700 years rule of Mughals, 1957 massacre of Muslims and
Indian subcontinent becoming part of British Raj. It may also be kept in mind
that Britain was not alone; other countries establishing their colonies
included France, Portugal and Holland. The two World Wars were also for
attaining supremacy and the alliance of big powers created UNO, to protect
their vested interest by retaining the veto power with them. They also created
World Bank and IMF to control economic policies of the developing countries and
keep them perennially dependent on them.
Developed world after having achieved food security also
started working on achieving control on energy products. This point had become
obvious in mid sixties after a war in the Middle East that only those countries
will enjoy power that have control on fossil oil and gas reserves.
Multinational exploration and production companies now have virtual control on
these reserves, not the countries where these reserves are located. Crude oil prices
are driven by hedge funds and not demand and supply. The worst victims of ‘ongoing
energy war’ are Iraq, Iran, Libya and Nigeria. If economic sanctions were
imposed on Iran to curb its oil export, Libyan and stolen Iraqi oil is being
sold in the global markets by groups enjoying support of Zionists.
Ironically Muslim countries are the worst victim of ‘divide
and rule’ legacy of colonial era. They have been divided into sects and sub-sects.
Though, there is interfaith harmony to a large extent, Western media, under the
control of Zionists, is constantly talking about Shia-Sunni war. The simultaneous
emergence of ISIL and Israeli attack on Gaza are part of the grand agenda to
render Muslims powerless, through financial assassination. Muslims don’t need
leaders propagating killing but reformist talking about interfaith harmony. They
must learn to distinguish between friend and foe or get ready for their
elimination because only the hypocrite will perpetuate.
