|
New Page 1
|
|
From the Desk of the Secretary |
|
Recently a friend of mine working in the Gulf spoke to me over phone. At the end of the conversation he asked me to pray for him. He had spoken to me in the past quite a few times, but had never mentioned about the word “prayer” at any time. Since it was the first time he requested me to pray for him I asked whether he had any specific problems? He said, “Here in the Gulf we have started to feel the heat of recession. Hundreds of people have lost their jobs. We are not sure about our future. That’s why I asked you to pray for me”.
|
 |
This friend of mine has been working in the Gulf and in the same company for nearly twenty years. I thought, if this is the situation of a qualified and experienced person what could be the fate of thousands of unskilled people? Their fate is not only undecided but decided already. Sometime back the Union Minister for Overseas said that nearly one hundred fifty thousand people have returned from the Gulf as they have lost jobs.
The above mentioned example of Gulf is only an indication of what is happening around the world due to economic recession. Loss of job, unemployment, decreasing of investment, declining of GDP – it is a chain of problems leading from one to the other. We see and experience it around us today. Getting out of this recession is the primary concern of each and everyone. At the same time it is better to find out what led to this recession.
It is said that there are various causes which have resulted in the recession we are facing today. But it is good to know some of them at least for the sake of learning. Fraud: Manipulating accounts and presenting wrong pictures of firms. This can’t go on for long. Once the reality is exposed people lose faith in the company and withdraw their deposits and shares. Greed: Unlimited greed of the lenders to make profits overnight which led them to pointless lending. Meaningless spending: A person who spends lavishly by borrowing without having the capacity to return becomes a liability. If a lender comes across hundreds of such borrowers the lender and his firm in turn become a huge liability. If we have tens of such lenders who are liabilities the economy in turn goes down to recession.
Fraud, greed, deceit, easy spending doesn’t bring happiness for long but results in misery and desperation. Honesty, hard work, cautious spending leads to true happiness and prosperity. Recession is bad and undesirable. But there is something to learn from these bad experiences.
THANK YOU.
|
|
