The recent announcement of the long-awaited IMF deal has been welcomed and celebrated by our government as if a big oil discovery has been made in our country and most of our financial issues will now be resolved. We must keep in mind that the conditions of the IMF are most likely going to be even stricter than in the past as we re-enter its programme. This is just a temporary relief given by the global lender, which has now become the bane of developing countries that cannot sort out their own financial matters.
We must now look forward and refrain from making those past blunders which have brought our country to this embarrassing stage where our future is dependent on the whims of the Western powers. We must take measures to reduce corruption, support and facilitate industries, improve tax collection, move towards import substitution and support SMEs. If we stick to the right path, we have all the attributes needed to achieve tremendous economic progress.
Sqn Ldr (r) Tarique M Malak
Rawalpindi
