Fairly paying public sector racehorses.

KARACHI -- We're beginning to see some silver linings. Initially, quick deals for port operations were signed with UAE companies. Lately, efforts for curbing speculation and illegal activities have brought USD Rs50 down to Rs280 in the open market.

Under SIFC, accelerated approach is observed where clear targets are given to portfolio holders with expected timelines for delivery and performance. The 'whole of government' experiment is working.

Amid all that, one must recall and appreciate the basic human instincts of any professional individual; what exactly am I working for and what do I get out of it (financially)?

Employees in large multinational companies - or sales-driven jobs - are paid performance bonuses, given employee stock option and fast-tracked into higher growth ladder depending on how much money they are bringing on table for sponsors (read: stakeholders/ taxpayers).

There should be no qualms when people around us get bonuses worth millions or tens of millions of rupees. It's fair play. The more you perform, the quicker and better you are rewarded. Consequently, the motivation, energy levels, determination, team work and leadership skills are far beyond the threshold seen in 'sarkari idaras'. What can we do to change it?

One: Let's start with SOEs, the companies bleeding billions of dollars of already distressed taxpayers' 'halal' money, which would have been in far better shape had there been incentive for the top and middle clan to revitalise the operations and cut fat similar to what notoriously infamous capitalists global private equity groups do. They first strengthen the cow and then milk it more; win-win-win for owner, managers and society at large.

The idea is to bring efficiencies and add value to shareholders (taxpayers like you and me). Unfortunately, most of the heads are rolled without completing tenure, due to political influence and inability to bring change.

Two: Blanket increment policy needs to change: It is vital for people doing their job by putting 10-12 hours a day to be rewarded with twice or thrice the amount of increment people get by showing up 4-6 hours to chitchat, move files and sip cups of tea. Let alone the ghost employees sitting at home.

The dismay in the competent mindset would eventually push them out of the system if they are not financially rewarded with variable incomes.

Three: Reward those at key positions: There should be lesser (cannot be zero) incentive for people to cheat the system.


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