Going to the IMF is an easy option which doesn’t involve much effort. After coming into power in 2008, the PPP government approached the Fund. However, the economy deteriorated to a dangerously low level. After the 2013 elections, the PML-N sought the IMF’s assistance. But it couldn’t achieve the desired result. Now, the PTI government is taking the same route and asking the IMF for the bailout package instead of carrying out structural reforms.
None of these governments has considered home-grown solutions to tackle the economic crisis. With all the talks about austerity, there is no reason why the imports of luxury and non-essential goods – that are consuming a sizeable portion of our forex reserves – cannot be curbed.
Shoaib Arif
Karachi
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