It is the problem of the classic scratchy, intermittent pickup switch. The problem seems to be a buildup of oxidation on the contacts, prohibiting the flow of electricity through the switch. Normally, this can be fixed by simply replacing the pickup switch. But the Ibanez and Roland type switch are a little hard to find. I found a workable substitute, but it functioned 90 degrees off-angle, making it very awkward to use.
Fortunately, this is an easy problem to fix. Fix, de-solder and remove the switch. You will notice four small metal tabs hold the switch together. With some needle-nose pliers, gently pull these tabs out. After you do so, you will notice that the bottom plate easily comes off. At this point, just spray the metal contacts with some contact cleaner. For best results, I used a dedicated toothbrush to make sure the contacts are good and free from oxidation. Now reassemble the switch, and reinstall. It should work like new!
Here are the photos of the pickup switch repair: