The PTI’s decision to freeze fuel prices till the next finance budget was an irresponsible one. Pakistan now faces an acute economic crisis, dwindling forex reserves and the threat of default. But the PTI alone cannot be held responsible for economic indiscipline in the country.
Pakistan has been trapped in an economic crunch for many decades because it has failed to keep a balance between expenses and revenues. An elected government must realize the implications of signing agreements with international financial institutions like the IMF. There are too many subsidies and amnesty schemes for non-productive investments such as the real-estate sector. The loan-reliant country is paying for the luxurious lifestyle of its elite. Such incentives and amnesty schemes only serve to promote tax evasion and a black economy.
Malik Tariq Ali
Lahore