Today I had a meeting with Mr. Muzaffar Hussain Bhatti. He is the GM
of Pak Fans and working there since last 48 years. Like always he
talked about the past and various eras of history.
While talking he mentioned a very interesting example, that "before
nationalization and before1965 war it was the time when we use to buy
Dalda Cooking Oil & Ghee from the store and we use to wrap it in some
paper or box so that no one could recognize it. That was because it
was considered an inferior good at that time. Most people used Desi
Ghee for cooking.
But then came the time of nationalization during which economy
activity went so down. Even ghee manufacturing units were nationalized
by Bhutto government. Supply of Food items like ghee, sugar & flour
was very short. Common people were not able to purchase it due to
shortage of supply. Only if someone had very good links & relations
with ghee & oil distributors he was able to get that from their store.
Similarly, Mr. Bhatti use to buy ghee from a friend who was an oil
trader, but after purchasing ghee, he used to wrap it before getting
out of the shop so no one can recognize that what he is buying, but
this time he was hiding that oil can not because it was not an
inferior good, but it was a rare and valuable item.
This simple but interesting comparison gave a very good example how
economy was so much affected by nationalization of industries in ZA
Bhuttoo era.
Regards
Shams
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