Saturday August 20, 2022

United we stand

June 30, 2022

Pakistan has become a laughing stock for the entire world due to its faltering economy and political chaos. While it is true that the coalition government has inherited an ailing and inflation-ridden economy, its economic team does not seem to have any plans to tackle the most crippling problem. The IMF’s tough conditions and our high foreign debt are the major factors that hamper the country’s economic turnaround. The messy planning, mismanagement and financial indiscipline of the PTI government plunged the country into an economic quagmire.

The current hike in the prices of petroleum products and the ban on the import of non-essential items will give a little boost to our fragile economy. The deal with the IMF for the release of the next tranche and the approval of the $2.3 billion-worth Chinese loan into Pakistan’s account may help shore up budgetary support and project financing. It is time we stood united, forgot the past and thought about the bright future of our country.

Guldar Ali Khan Wazir