Going nowhere

This refers to the article ‘Where is the economy going?’ (September 18) by Mohammad Zubair. The writer has rightly criticized the economic policies of the government. Adhocism in economic policies is forcing local businessmen to shut their businesses, resulting in more unemployment and deterring foreign investors.

A borrowed mandate and tried economic masters have resulted in total collapse of the economy as is evident from the fact that the PM has issued letters to 27 ministries for poor performance. Such poor economic indicators, coupled with internal unrest and instability, cannot attract foreign investment. The writer has rightly pointed out that time is running out fast and there is urgent need to improve the economic situation rather than feel happy in assuring the IMF that the process of privatisation will be accelerated and targets of economic development will be achieved. Selling state assets at throwaway prices will only result in further unemployment at a time when inflation is high.

Mukhtar Ahmed

Karachi