Samina Fazil, founder president of the Islamabad Women’s Chamber of Commerce and Industry (IWCCI), said on Sunday that the current government should be succeeded by a technocrat setup which will be able to take necessary measures imperative for the country’s survival. Usually, an interim government comes for a short period to hold general elections. Still, it will also be able to steer the country out of problems facing an economic freefall, she said.

Talking to the business community, she emphasised the need for a caretaker technocratic government as soon as the present National Assembly’s tenure ends.

Samina Fazil said that while the recent financial support from the International Monetary Fund (IMF) has improved the country’s financial condition to some extent and minimised the risk of default, a lot still has to be done.

Handing over power to technocrats is essential for steering the country out of its economic problems, she said, adding that the appointment of technocrats based on their expertise, particularly in vital areas such as finance, commerce, industry, investment, water and power, and women’s empowerment, will help change the situation for the better.

Further, Samina Fazil stated that technocrats do not run for office in elections. In certain countries, the Prime Ministers are both economists and technocrats. Sometimes a technocratic setup is introduced when political parties fail to deliver.

Samina Fazil acknowledged that technocratic governments are known for making tough decisions that political governments often shy away from, fearing a loss of support.

Sometimes, a technocratic government is formed through consensus among all parliamentary parties when a regular government cannot be established. She added that Pakistan had witnessed technocratic governments in the past, during the eras of General Zia and General Pervez Musharraf.

Highlighting the current state of Pakistan’s economy, Samina Fazil expressed concern that the nation has fallen behind other developing countries, making the survival of its economy a difficult task.

She emphasised the need to bolster the business community’s confidence, promote exports, and encourage Pakistani expatriates by providing additional incentives.