Gloomy days

This refers to the editorial ‘Stark message’ (Oct 17). Chaotic, directionless and incoherent policies during the past 14 months has set the PTI government on a collision course with its earlier professed narrative under an inept administration that is confused, indecisive and stumbling at every step.

Business confidence is at an all-time low while the economy is in the throes of a serious crises, after economic decision-making was surrogated to the IMF pundits and their Pakistani associates. The economy is entering into contraction mode which is being proclaimed as a process of stabilization and consolidation and applauded as an achievement. The economic managers are unable to see a larger picture beyond the trade and current account deficits, the contraction of which is being acclaimed as a success story. Unfortunately, there seems to be no one in this government to own the economy and be answerable. Even the IMF has now concluded that a high debt level will persist until FY24. The full impact of the economic policies being followed will be visible in the next 12 months.

Arif Majeed

Karachi