Saturday December 04, 2021

Why borrow?

October 25, 2021

This refers to the letter ‘Distractions’ by Fuad Enver (October 22). The writer has highlighted a real problem faced by Pakistan.

Undoubtedly, Pakistan is practically being run by the IMF due to the unpredictable nature of the economy and heavy dependency on foreign loans. The incumbent government does not have any choice but to fix prices of commodities, petroleum products, gas, electricity and revenue targets as per the agreement with the IMF. Therefore, the prime minister should stop taking loans as per his pre-election commitments, but he does not seem to be willing to do so. Had the PTI-led government worked with a strong economic team and commitment from the start, the situation today might have been different.

Engr Asim Nawab