Though the considerably underreported phenomenon of capital flight — the exodus of intellectuals and skilled professionals as well as MNCs from the country, alongside the relocation of domestic investment away from it — has persisted for decades, the past three years have accelerated this exodus. The recent announcement of Procter & Gamble — one of the world's largest consumer goods companies — exiting from Pakistan has prompted a few much-needed editorial and op-ed pieces in national dailies.

While most pieces have highlighted the issue of capital flight, they have taken a shallow view, citing economic factors such as currency depreciation, global restructuring challenges and political instability as deterrents to investment and factors behind the inhospitable investment environment. What most of them have lost sight of are the oft-overlooked, intertwined roots or core issues plaguing the country for decades: the source of legitimacy of rulers and their priorities.

As far as the legitimacy of the........

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