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Friday, December 22, 2017 11:28:09 PM
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The ills of political patronage and ethical void in our society have been going on

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23rd-Dec-2017       
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ONE of the country's leading economist along with a number of young researchers have unveiled a report - identifying political patronage and lack of ethics to be the main reasons to the country's increasing default loan culture. The point, however, the findings of the report have been perpetuating over successive regimes down to the present day. In fact, we have reached a painful situation by continually allowing default loans by ingraining it in our business practices. Also Political patronage and connections have now become essential to enter in the banking profession and this favour is further leveraged to accumulate personal wealth.  
A section of our intellectuals have become opportunistic in coming too late to realize about the wrongs committed by the government. Again it is another section of intellectuals encouraging the government for claiming its success everywhere. Now the banks have been looted away and corruption  encouraged politics within the government, the damage caused cannot be stopped overnight.   
As a dire consequence, of the wrong policies of the government the country has settled into a state of affairs in which most borrowers know that they do not need to repay their loans on time or pay back at all as they will be somehow bailed out by ways of rescheduling.
Very much in tuned with the economist and his fellow researchers, we now suffer from a totally perverse and unethical situation in which the biggest defaulters tend to be politically connected individuals or criminal masterminds while the most affected people tends to be the hard working general people with low income.
We can only agree with the report's findings and have repeatedly penned about the shocking revelations in advanced. The point now, the report has exposed the unethical practices besides the ills of ethical void - would it now create an impact or not? If the government's authorities concerned don't take the revelations seriously, unfortunately it will find its place in the shelves besides piles of dusty research reports - waiting to be forgotten in due course.
Another staggering revelation in the report was about our justice system - being labelled as one-eyed. Very true, we are now living in a country where justice instead of being blind tends to be one-eyed. In fact, some people are understandably and visibly protected from law, while a great many have to either buy whatever services they can or become victimised by the whole process.
The party in power for nearly a decade must come to realise where it has taken the country and draw appropriate lessons from the revelations. Let it not be just another report to ignore and dump it.

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