The exceptionally pro capitalist (2012-13) budget with large scale tax exemptions and benefits for the rich is a deceptive trap for the working classes whose blood, sweat and tears will be squeezed even more with the burgeoning crisis of Pakistani capitalism. In the recent period the masses have lost interest and suspense in the budget presentation ritual. This revulsion and distrust towards the asseverations of the ruling politicians and bureaucrats over the last period is not without a cause. Annual budgets have become a farcical exercise.

The brutal firing and gruesome killings at a rally in Karachi is yet another episode that epitomises the downward spiral into which the society and the state is unravelling disastrously. Under the deafening din of democracy, reconciliation, rule of law and independent judiciary, the economic meltdown is taking its toll on the beleaguered masses of this unfortunate land in the form of escalating violence, crime and bloodshed.

With two-thirds of its work force in the rural sector, Bangladesh’s agriculture contributes just 19 percent to its GDP. Sixty-six percent of exports are from the garment industry that makes it the third largest clothes exporting country in the world. It is perhaps the cheapest and most profitable place for garment manufacturers. However, the conditions of the workers, mainly women, are atrocious.

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