profitepaper pakistantoday 27th february, 2012

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A World Bank for a new world

profit.com.pk

Page 02

Monday, 27 February, 2012

LCCI asks Dr Asim to honour his commitment over gas supply LAHORE

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STAFF REPORT

eSPiTe competitive quality and price, Pakistan businessmen were unable to make delivery on time due to discriminatory gas suspension by the government for Punjab industries which has dealt a death knell for export productivity.

Asking the Federal Minister for Petroleum and Natural Resources Dr Asim hussain to honour his commitment for increasing gas supply to Punjab industry for three days a week, the President lahore Chamber of Commerce and industry (lCCi) irfan Qaiser Sheikh said it will help arrest Rs100 billion monthly loss to the economy and ensure jobs 400,000 daily wagers. he reminded Dr Asim’s promise to the industry in Punjab on January 27 in the presence of Chief Minister Punjab Mian Shahbaz Sharif at Chief Minister house that the three day per week gas supply would be restored in the month of February, but the economy has hit the rock bottom only because of federal minister’s failure to keep his word. how can an industrialist run his industry when he is paying a markup of 365 days and getting gas for around hundred days only as last

above all, he added, how would the government convince both the local and foreign investors for investment when it is unable to manage the supply of gas to the existing industrial units. “instead of coming up with some sort of relief package, the industry is being pushed to the wall.

The gas suspension is tantamount to throttling the industry to death.”

Despite competitive quality and price, Pakistan exporters were unable to make delivery on time, he added. he said it seemed that some elements in the gas department were hatching conspiracies against the government to defame it. lCCi President said the businessmen were unable to understand why the business community was not taken into confidence over industry-related issues. if SNGPl was facing some supply related issues they must bring them to the notice of real

year the industry in Punjab was given gas for only 170 days. “it is not only the industry that was suffering massively, but the government was also a loser on many counts.” irfan Qaiser Sheikh said around 40 per cent of the industrial units in Punjab run on gas and gas suspension means no production by almost half of the industry and a loss of millions of rupees to the exchequer.

The ‘discriminatory attitude’ of the government was not only denting its goodwill and reputation, but had also put a question mark on its ability to manage and govern things. “it was a death knell for export-based industry and productivity.” how would the industry be able to manage export orders worth millions of dollars when there is no gas? What about millions of daily wagers who have a single source of income? And

Instead of coming up with some sort of relief package, the industry is being pushed to the wall. The gas suspension is tantamount to throttling the industry to death

stakeholders, well ahead of time.

Giving a breakup, lCCi President said the industry was denied gas for 77 days in 2008-09, 100 days in 2009-10, while in 2010-11 it was given gas for only 170 days. “An unprecedented hike in power tariff had made the scenario more complex and complicated. To run the industry on alternative fuel, including diesel and furnace oil is not a viable proposition.”

The shortage of gas is not the only issue; its improper distribution also remains a cause of worry. “it would have taken about two years to set up a system for lNG supply, had the government accepted the lCCi proposal a couple years ago.

Pipeline politics and bad ideas Forgetting your wife’s birthday is a bad idea, the Iran-Pakistan pipeline is not KUNWAR KHULDUNE SHAHID

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hile Pakistan is clutching at straws in its quest to solve the gas predicament via the contentious iranPakistan pipeline, the US has the luxury of ‘delaying’ a pipeline project Keystone Xl from Canada, citing ‘environmental constraints’. how we wish we could have the comfort of scutinising the effects of our projects with regards to global warming; however, as things stand we’d rather focus on overcoming a gas shortfall of one billion units per day, than fret about the vulnerability of the stratosphere. And Washington’s meddling is certainly becoming a nuisance in this quest – if nothing else.

The US recently called the iran-Pakistan pipeline project a “bad idea”, and the reasons provided by the American hierarchy for this assertion ran the entire gamut from being pointless to being absurdly pointless. So, how exactly is the iran-Pakistan pipeline a bad idea? is it because fiscal deficit and energy shortage might be resolved at the respective ends of the pipeline? Or because after Asian giants snubbed the iranian sanctions, it would mean that Pakistan would be following suit?

Maybe Washington needs a tutorial on what qualifies as a bad idea. like for instance forgetting your wife’s birthday is a bad idea or wearing a leather jacket in a hot summer’s day in

Jacobabad.

Other illuminating examples of a bad idea would be The Treaty of Versailles or the ‘War on Terror’ in Afghanistan. it’s ironical that the Obama regime is seemingly failing to comprehend the term because President Obama is no stranger to bad ideas. in fact if a bad idea were a hundred cubic feet of gas, Obama would have solved Pakistan’s gas shortage singlehandedly. Some noteworthy illustrations of his brain detonating can

be found in his health Care Reform and then there is his version of the “Buffet Rule” of taxation, the plethora of green energy tax credits and the criminally backfiring “clean energy standard” idea – and we’re still within the US jurisdiction in this little debate of ours. in fact it’s the latter kith and kin from

where Obama traced his latest crop of horrendous ideas – cue Keystone debacle. in a bid to woo the environmentalists before the elections in November this year, Obama delayed the Keystone Xl pipeline project at the tail-end of last year. Whether a sizable number from the environment lobby fell prey to the bait or not is a matter of conjecture; however, what has undoubtedly happened is that the decision has come into the spotlight amidst soaring gas prices in the US, which are touted to jump up by $4 gallon

by March. And what makes this bad idea even worse, was the rationale provided for the decision: apprehensions over the risk of spills. US currently has a pipeline network of over 500,000 miles, and if in a hypothetical world of diminutive probabilities the 2,147 mile Keystone pipeline were to fall short of standards,

it still wouldn’t be catastrophic for all practical purposes. Nevertheless, it’s the political decisions forestalling the practical decisions in this game, with the elections in mind – and Obama is losing out, despite being the one scribing the rulebook.

There is an opulent reservoir of oil in the central part of North America, and the easier its movement is the lower would be the price; and with the whole ‘energy security’ debate, wouldn’t it be more convenient for Washington to cover its oil imports via Canada than say Venezuela or the Middle east? By opposing this move, Obama is playing right into the Republicans’ hands, who now have him in the corner and are peddling overblown numbers to further exacerbate the shortcomings of the US president’s little grey cells. The American public hasn’t exactly been forgiving towards presidents who’ve had gas crises; as Richard Nixon found out after the 1973-74 embargo or Jimmy Carter realised in 1980 after 79’s gas crisis, much to the delight of Ronald Regan. And with this latest brand of faltering decision making, the odds are shortening on Obama biting the dust this time round. The iran-Pakistan pipeline doesn’t look that bad an idea now, does it Mr President?

The writer is Sub-Editor, Pakistan Today. He can be reached at khulduneshahid@gmail.com

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Monday, 27 February, 2012

debate

Corporate colonisation NAJMA SADEQUE

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ODAY, there are more ways than one to appropriate another country’s territory and, or, resources: it comes in the guise of foreign investment. Well before the crash of 2008 when new avenues for global investment evaporated, farmland became the new target.

Pakistanis were shaken by the land-grabbing phenomena when General Musharaf’s government unilaterally decided to lease lands for foreign corporate farming. Sweeteners were not necessary: he gave them anyway - unlimited acreage with minimum blocs of 1,000 acres, for 50-year periods or more, the first 10 years taxfree; all yields and profits allowed repatriation to the investor’s home country. The idea must have glowed with lip-smacking possibilities, because the new, ‘democratic’ government did not blackball it. in many former colonies, states happily retain ownership over the same lands previously controlled by colonial powers. These include community lands – known as the commons – which belong collectively to the people, especially the landless, whose survival depends on them. in Pakistan, they are conveniently labeled “state lands”, implying that “elected representatives” – sans public information

and mandate -- are free to dispose with them as they wish, riding roughshod over those to whom the lands rightfully belong. The issue needs to be raised to assert that such colonial-style exclusivity is no longer justified under democracy. Transferring community lands to peasants -- still waiting for the 1947 promise of land being restored to tillers -- has not been genuinely attempted in 64 years.

So far the media has exposed only three cases of lands leased out to foreign investors: in Baluchistan, Punjab, and most recently in Sindh, sans any details. A state of insecurity is perhaps why these foreign enterprises have not taken off yet. But the hundreds of deals already struck around the world warn of what to expect.

Governments invariably claim to sell or lease land in the name of economic development. instead it literally takes food from people’s mouths along with livelihoods, shelter and a way of life.

Recently, GRAiN, and international NGO, released new data of 416 massive land grabs for food crop production by foreign investors covering over 87 million acres of land in 66 countries. They do not include pre2006 land grabs. Most of some 300 land grabbers are from the agribusiness sector, while financial companies and sovereign wealth funds made a third of the deals. China, india, UK and Germany take the lead, followed by USA, UAe and Saudi Ara-

bia, while the UK is a popular tax haven for land grabbers.

The common denominator throughout the South is that customary laws or rights of usage are no longer recognised, and constitutions do not guarantee protection of community lands. it’s no different in Pakistan where feudals monopolise all prime land, and decision-making governments are feudal-dominated.

Perhaps what outrages most is World Bank’s loan-backings for such investment along with USAiD and even major US universities; this in the same breath that World Bank policy purportedly aims to protect smallholders and address unequal negotiations between farmers and big industry.

While hypocrisy is not new in World Bank, many UN agencies such as FAO have been at cross-purposes for some time, working together on the socalled “seven principles of investment”.

They actually contradict all principles which demand respecting land and resource rights, ensuring food security, transparency, good governance, consultation and participation, and sustainability. They turn out to be eyewash as they are not binding on governments or investors, and are expected to be voluntarily enforced. in effect, says one activist, the principles of “responsible agricultural investment end up giving a green light to investors.” in Africa alone, some 3.5 billion acres of commons in 35 nations are at risk. Focus on the Global South points

out that World Bank “does not consider agrarian reform or the need that has been expressed to redistribute land and to reorganise the way that land is managed in the countries." Furthermore, water is taken for granted in land contracts. locals suffering water shortages are not considered, and no limits are placed on foreigners’ use of natural resources.

The international land Coalition (ilC) finds this “race for the earth” threatening some half a billion acres worldwide, having an estimated worth of $6 trillion.

What escapes government and politicians alike in Pakistan is that when they sell or lease land to foreigners, they violate human rights in two ways. – One, they are handing over people’s property to foreigners without consent or mandate of the citizens; and two, by so doing, they are directly and actively exacerbating hunger, loss of livelihood and shelter, and poverty, to line the pockets of vested interests.

Since this government is unlikely to take appropriate action – “roti, kapra, makan” never included land – it’s necessary for other political parties to note that acting in the public interest, long overdue, is now necessary to obtain mass votes.

The writer is a former journalist and currently director of The Green Economic Initiative at Shirkat Gah, a rights and advocacy group

Rally on Wall St to be put to test REUTERS NEW YORK

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he broad index is up 8.6 per cent for the year, closing at 1,365 on Friday. The S&P 500's close was the highest since June 6, 2008, a few months before lehman Brothers went bankrupt as the global credit crisis spiraled out of control. While the swiftness and magnitude of the gains have created concerns that the market is due for a pullback, a break above 1,370, which was 2011's intraday high, could trigger more buying as investors fear missing out on further gains. "We have reached an exhaustion point and an inflection point. The sentiment is bullish and the money flow has gotten bullish, and that's freaking people out a bit," said James Dailey, portfolio manager at TeAM Asset Strategy Fund in harrisburg, Pennsylvania. "What's more likely, or normal, would be a 5-7 per cent decline (from current levels), but if we move above 1,370, that could be the next leg up." The S&P 500 has struggled to climb above 1,370, but the level has thrown up strong resistance in the past week. For this week, the Dow Jones industrial average .DJi and S&P rose about 0.3 per cent and the Nasdaq Composite .iXiC added 0.4 per cent to close at its highest since mid-December 2000. Oil prices will also be in focus after Brent crude futures closed at $125.47 per barrel on Friday, the highest since last April, on fears of worsening tensions between iran and the West. "The S&P and crude oil prices have been showing a correlation so far. But oil at where it is now is a big deal," said Ben Schwartz, chief market strategist at lightspeed Financial in Chicago. Schwartz explained that if oil keeps rising, it will threaten consumer confidence and pressure the stock market. The movement in the euro will also be closely watched for hints about markets' appetite for risky investments.

A World Bank for a new world JEffREy D SAcHS

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he world is at a crossroads. either the global community will join together to fight poverty, resource depletion, and climate change, or it will face a generation of resource wars, political instability, and environmental ruin.

The World Bank, if properly led, can play a key role in averting these threats and the risks that they imply.

The global stakes are thus very high this spring as the Bank’s 187 member countries choose a new president to succeed Robert Zoellick, whose term ends in July.

The World Bank was established in 1944 to promote economic development, and virtually every country is now a member. its central mission is to reduce global poverty

and ensure that global development is environmentally sound and socially inclusive. Achieving these goals would not only improve the lives of billions of people, but would also forestall violent conflicts that are stoked by poverty, famine, and struggles over scarce resources.

American officials have traditionally viewed the World Bank as an extension of United States foreign policy and commercial interests.

With the Bank just two blocks away from the White house on Pennsylvania Avenue, it has been all too easy for the US to dominate the institution. Now many members, including Brazil, China, india, and several African countries, are raising their voices in support of more collegial leadership and an improved strategy that works for all.

From the Bank’s establishment until today, the unwritten rule has been

that the US government simply designates each new president: all 11 have been Americans, and not a single one has been an expert in economic development, the Bank’s core responsibility, or had a career in fighting poverty or promoting environmental sustainability. instead, the US has selected Wall Street bankers and politicians, presumably to ensure that the Bank’s policies are suitably friendly to US commercial and political interests.

Yet the policy is backfiring on the US and badly hurting the world.

Because of a long-standing lack of strategic expertise at the top, the Bank has lacked a clear direction.

Many projects have catered to US corporate interests rather than to sustainable development. The Bank has cut a lot of ribbons on development projects, but has solved far too few global problems.

For too long, the Bank’s leadership has imposed US concepts that are often utterly inappropriate for the poorest countries and their poorest people. For example, the Bank completely fumbled the exploding pandemics of AiDS, tuberculosis, and malaria during the 1990’s, failing to get help to where it was needed to curb these outbreaks and save millions of lives. even worse, the Bank advocated user fees and “cost recovery” for health services, thereby putting life-saving health care beyond the reach of the poorest of the poor – precisely those most in need of it. in 2000, at the Durban AiDS Summit, i recommended a new “Global Fund” to fight these diseases, precisely on the grounds that the World Bank was not doing its job. The Global Fund to Fight AiDS, TB, and Malaria emerged, and has since saved millions of lives,

with malaria deaths in Africa alone falling by at least 30 per cent.

The Bank similarly missed crucial opportunities to support smallholder subsistence farmers and to promote integrated rural development more generally in impoverished rural communities in Africa, Asia, and latin America. For around 20 years, roughly from 1985 to 2005, the Bank resisted the well-proven use of targeted support for small landholders to enable impoverished subsistence farmers to improve yields and break out of poverty. More recently, the Bank has increased its support for smallholders, but there is still far more that it can and should do.

The Bank’s staff is highly professional, and would accomplish much more if freed from the dominance of narrow US interests and viewpoints. The Bank has the potential to be a catalyst of progress in key areas that will shape the world’s future. its priorities should include agricultural productivity; mobilization of information technologies for sustainable development; deployment of lowcarbon energy systems; and quality education for all, with greater reliance on new forms of communication to reach hundreds of millions of underserved students.

The Bank’s activities currently touch on all of these areas, but it fails to lead effectively on any of them.

Despite the excellence of its staff, the Bank has not been strategic or agile enough to be an effective agent of change. Getting the Bank’s role right will be hard work, requiring expertise at the top.

Most importantly, the Bank’s new president should have first-hand professional experience regarding the range of pressing development challenges. The world should not accept the status quo. A World Bank leader who once again comes from Wall Street or from US politics would be a heavy blow for a planet in need of creative solutions to complex development challenges. The Bank needs an accomplished professional who is ready to tackle the great challenges of sustainable development from day one.

A version of this article was first published in Project Syndicate

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Monday, 27 Februar y, 2011

EDITORIAL

Pakistan: A dumping ground of used plastics materials

Making oil affordable

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il remains uncomfortably and unjustifiably bid in the international market. libyan production is back online earlier than expected and iraqi, Russian and Mexican crude is flushing markets just as india’s industry and China’s growth powerhouse begin to slow.

This is bad news for Pakistan where authorities have just cited erratic international price levels as cause for yet another petrol price hike. And since oil (and related products) are inputs in almost all processes, the public is about to be treated to higher inflation and more belt-tightening, with related spill over effect on overall consumerism and economic expansion. The more things change, the more they remain the same.

The reason for the abnormal spike in brent crude is growing possibility of war in the Persian gulf, and subsequent closure of the strategic Strait of hormuz, despite clearly bearish fundamentals in the oil market. The situation has become all the more delicate

with the return of slight economic stability in the US, and slim chances of weathering the sovereign debt in europe. Should saber rattling in the Gulf now turn into real war, oil will climb to the $180-200 range in minutes, rubbishing the club med bailout in continental europe and sending America back into recession. So much for the international consolidated bottoming out finally materialising.

The prospect of rapidly rising prices will surely reignite the ongoing debate between the petroleum and finance ministries in islamabad. it seems the latter will be forced to revise its position on the CNGpetrol price parity after all, especially since every passing day brings the election that much closer. instead of incorporating unaffordable increases in gas price, decisionmakers might just find it politic, and prudent, to reduce taxes on the final petrol price, increasing eventual demand and earning. Failing to check consistent energy price rise, whatever the reason, will make political survival increasingly difficult at a time when the phenomenon has already

Syed Omer Jan

I

Heavier consumption of imported plastic waste into making of everyday products can result in various medical and environmental concerns

Geniuses of their fields

Non-Tariff Barriers

This is with regards to the news report, “Auction of 3G spectrum must be transparent, says Gillani” published on Saturday. in Pakistan-today you have shown PM Gillani shaking hands with entrepreneur Bill Gates.in fact both are geniuses in their own fields: Gillani in turning politics into an ever expanding cash pot; while Bill Gates making his computer world into a cash mountain.The difference is merely in direction- Gillani is doing it for his forthcoming Gillanis while Bill is doing it for the enlightenment of mankind in future.

This is with regards to the article, “Grilling the wrong chicken” published on Monday. The relentless debate on MFN to india is becoming a tiring affair. it is no rocket science that unless india lifts the Non-Tariff Barriers, it is impossible for MFN to be a success.

They want us to hurry up and remove all the items from the negative to the positive list, but they aren’t taking the first logical step by abolishing the NTBs. i don’t think it’s a wise move to acquiesce to indian demands; we should focus on national interests.

SHAKEEb AHMED

WALI AWAN

T is a matter of concern for any country which gets reduced to a dumping ground for used materials and discarded articles.

Pakistan, being a very relevant example, where the mounting ratio of importing, used or recycled plastic items, has become a constant threat to the health of the citizens.

At present, there are hundreds of importers and buyers in Pakistan who are trading different used plastic items and materials. Definitely these types of used items are economically cheap and very cost effective, especially for the average buyer in the Pakistani market. But, the overall hazards resulting due to the unrestrained and uncontrolled usages of these used plastic items outweigh the so-called benefits and advantages.

Sipping water from a used pet bottle would not be an ideal option for any health-conscious individual living in any part of the world, but there are a number of traders in Pakistan rejoicing the economic benefits offered by the treasured rubbish, that is discarded by the more developed countries of the world.

Starting from CPU casings to monitors, from CDs and DVDs to keyboards, dustbins, milk jugs, lawn chairs, other furniture, etc; imported plastic waste in Pakistan is being used to manufacture products that are commonly used on a daily basis, including soft drink and shampoo bottles, buckets, credit cards, disposable latex gloves and syringes, shoe soles, trash bags, etc. heavier consumption of imported plastic waste into making of everyday products can result in various medical and environmental concerns because this plastic waste is toxic in nature, and hazardous to human health in many ways. For example, products made from coloured plastics entail higher amounts of pigments composed of highly-toxic heavy metals like lead, cobalt, chromium, cadmium, selenium, and copper.

Regular use of used plastic bottles may even cause cancer as used plastic bottles harbor various kinds of bacteria. A majority of used plastics being imported to Pakistan contain polycarbonate plastics, which are

LAhORE

LAhORE

harmful and dangerous. Bisphenol-A (BPA), a widelyused chemical in baby bottles and hard-plastic drinking bottles, has reported to be one of the major causes of birth defects and infertility in later stages, along with diabetes and cardiovascular diseases as well.

Used plastics which are further utilised in our local industries in the manufacturing of various medical devices and accessories are equally harmful and dangerous.

Commonly known as vinyl, PVC plastic is used in many medical devices, examples including iV bags, disposable gloves, curtains and flooring, etc, and results in a large number of health risks and environmental concerns. in Pakistan, there are more than 800 manufacturing units that buy used syringes and discarded plastic bags for a measly price of Rs20 per kilogram, and after reprocessing, these factories sell it to the other local distributors and suppliers for up to Rs120 per kilogram.

There are more than 400 plastic recycling and crushing units working in Karachi alone. These factories usually import all kinds of discarded plastics from UAe, which are then crushed and transformed into granules, and washed with many different toxic chemicals. These granules are sold at very cheap rates in the local wholesale markets. A large number of small factories, mostly operational in slum areas, purchase these plastic materials to manufacture a range of plastic products.

Most of the used plastics being imported to Pakistan are collected from the dumpsites, and chemicals from these plastics cause soil and water pollution, destroying crops and the natural habitats of fish and other marine life. Furthermore, used plastic items being sold in Pakistan are made with unknown composition of polymer and additives which results in unexpected chemical degradation.

Most of the plastic waste is being imported into Pakistan from UAe, US, Canada, Germany, Japan, China and other developed countries, plastic waste coming from UAe is 400 times cheaper since western countries dump their all plastic waste and rubbish in UAe, from where it makes its way to Pakistan. While international standards of waste management underscore the three R's — reduce, reuse and recycle, Pakistanis tend to follow their own philosophy revolving around the three R’s which are rupees, revenues, and returns. Concerned health and environment departments should take notice of such import of used plastics into the country, and this should be brought to an immediate halt due to the harmful effects to the health of the consumers and the environment. Uncontrolled import of used plastics into this country also affects the local plastic manufacturers who are producing various plastic-based products and devices according to international safety standards and are abiding by globallycertified manufacturing laws and regulations.

The writer is Texas A&M University graduate who is currently employed with Telenor in the Products - Commercial Division. He can be reached at syed.jan@gmail.com

The ‘what-if’ approach to public transport

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Sakina Husain

he economy continues to tread the path of uncertainty and doom. The rupee refuses to budge from Rs90/USD, the investment climate staggers, and inflation somehow seems a non-representative variable. Amidst these unsettling issues, what if the system were revamped? What if the inelasticity of the burden of oil imports was to be challenged? And what if the plight of those consumers who purchased cars

in the fruitful yesteryears but face shortages and helplessness at CNG stations was taken into account? Not all can afford tanks full of petrol any more, and there should be no shame in admitting this fallout. Putting into perspective, the foreign exchange spent on petroleum imports each year, the first half of FY12 registered a 35 per cent increase in the oil bill, while comprising a 35 per cent of the total imports. if this trend continues in the later half of the current fiscal year, the total oil import bill can be expected to arrive at $17 billion versus $12 billion in FY11. Studies show that about 49 per cent of oil is used for transportation purposes, which implies that $8 billion will be spent on mere commuting in urban areas where only one third of the total population resides. in the last six months Arab crude prices (specific to Pakistan) have risen from $108/bbl to $124/bbl, registering an increase of 15

per cent. Given that oil embargo on iran is not far to follow, immediate measures need to be taken for resources to be not be subservient to variations in international prices.

Given this background, a recent announcement from the lahore Transport Corporation, to import 350-500 buses

by April, makes one heave a thankful sigh of relief for the presence of some visionaries in the government. Moreover, the construction of Bus Rapid Transit System to serve about 150,000 passengers daily on Ferozepur Road, also deserves considerable applaud. if one were to design a plan for medium term, the biggest hurdle that the government is bound to face involves a huge paradigm shift for the urban elite.

The message would be simple; every member of the household does not need to own a car or travel by a private vehicle to reach their destination be it a workplace, a social event, or simply me-

SHAHAB JAFRY Business Editor

KUNWAR KHULDUNE SHAHID Sub-Editor

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HAMMAD RAZA Layout Designer

nial grocery shopping. The ‘west’ that we all aspire to god-willing immigrate to, has well developed public transportation systems which require at times hours of travelling for citizens to commute. Why can’t we provide security and confidence to women, children and people at large from ourselves first, before demanding these essentials from the state?

The parallel measures that provincial governments need to undertake involve giving a boost to competition in the provision for transportation services. This would ensure a greater emphasis on quality, prices and the development of an overall culture for using these services in addition to ancillary employment generation. Moreover, to disincentivise use of personal vehicles, commercial parking zones can be developed which charge heavy tolls for

people who chose to bring out their cars. The benefits of this approach are many and easy to appreciate. Greater revenue, less traffic congestion, pollution, driving stress should hopefully be adrenaline boosters for many.

The onus of these suggestions falls on both policy makers and consumers alike. if traffic regulations were imposed, the informal market and the mafia where rates are decided for driving/ routing the semblance of public transportation that we currently have, would suffer great dents. As a final measure, i propose recall of all driving licenses, and retaking of tests to ensure greater security and less stress on roads.

The time to rethink is now!

What if the system were revamped?

The writer is an economic analyst and freelance financial journalist. She

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