You either believe in the free market or you don’t. And no, we are not referring to free market ‘types’ whose lives are dictated by stock prices, cryptocurrency, and whatever it is that characters like Elon Musk are doing on any particular day. We mean you either believe a free-market economy is the best way to promote the growth and well-being of a people or you don’t.
This is an economic system defined by low taxes, few capital restrictions, and even fewer barriers to entry. And without an economy to micromanage, a government should ideally have the time to complement this environment through reasonable social services like housing, healthcare, and, perhaps most importantly, education.
At Profit, our reporting is often greatly informed by this belief. By all indications, the raw ingredients for a successful and thriving economy exist in Pakistan. We have a young population with rising literacy and sufficient domestic savings, that is a domestic banking sector large enough to result in relatively lower costs of capital. But unlike the model we have discussed above, in Pakistan, the government is less a helping hand and more a mountainous road-block made worse by constant political instability.
Read more: The bull case for Pakistan
Despite this, the signs are clear if you take a closer look at some of the companies that have emerged in the past couple of decades. Case in point: Airlink. The content in this publication is expensive to produce. But unlike other journalistic outfits, business publications have to cover the very organizations that directly give them advertisements. Hence, this large source of revenue, which is the lifeblood of other media houses, is severely compromised on account of Profit’s no-compromise policy when it comes to our reporting. No wonder, Profit has lost multiple ad deals, worth tens of millions of rupees, due to stories that held big businesses to account. Hence, for our work to continue unfettered, it must be supported by discerning readers who know the value of quality business journalism, not just for the economy but for the society as a whole.To read the full article, subscribe and support independent business journalism in Pakistan
