This refers to the editorial ‘Structural issues?’ (July 10). After taking office, the current government seems to have decided to remain aloof when faced with economic issues and not do anything to correct them. Financial help from friendly countries made them complacent and arrogant. The Fund is blamed for the harsh budget and the accompanying economic conditions that have become the hallmarks of this government’s tenure till now.
The Fund provides short-term ventilator support so that governments can implement their own designed structural reforms during the breathing space given. Its mandate is to get the loaned money back and so the huge taxes and raise in tariffs can be explained. It has no interest or stake in structural reforms or putting the country’s economy on a sustainable path. This function is clearly of the incumbent government.
Arif Majeed
Karachi
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