The financial crisis

We are an extremely ambitious nation. Unfortunately, our energy and zeal is not matched with action. The last two governments led our economy to an all-time high. According to the finance minister, Asad Umar, the previous government borrowed Rs1,200 billion from commercial banks in one year. The new government assumed charge in such dire circumstances that it finds itself caught between the devil and the deep blue sea. We have debts touching skies and the worst tax-to-GDP ratio. The new government has decided to take tough decisions with regard to the imposition of taxes.

The Pakistani people understand and appreciate the efforts of the PTI-led government. It is now the PTI’s responsibility to carry out the monumental task of bringing the economy on track and stick to its mission at any cost. If it also turns out to be those who want to use these catchy terms to hoodwink people and not take the tough decisions, I am afraid we will be on the fast track to doom. We have time and again heard slogans by our politicians that we will eat grass but not compromise on national integrity. Well, it is the time to act on our words.

Raja Shafaatullah

Islamabad