These were standard remarks and should awaken the government that has, so far, acted on sentiment ever since the PTI and the PAT have been carrying out their sit-ins in Islamabad. The political impasse has caused a delay in the visit of the Chinese premier along with the International Monetary Fund (IMF) putting off its loan tranche. The government had done reasonably in its attempt to put the economy back on track — in the one year it had been in power — after holding the 3G spectrum auction and raising money through the issuance of Eurobonds. Power projects with Chinese help were also planned and foreign exchange had stabilised. But now the gear has shifted as the government desperately looks to blame everything on the sit-ins in Islamabad, while backtracking on committed reforms to the IMF.
During his visit to Pakistan, the ADB president also said that the political standoff needs to end soon. It seems like the government, in its own sneaky way, has decided to play the blame game instead of doing what it promised more than a year ago. Flood damage, an uncertain security environment and the political impasse need to be resolved for any move towards progression. For once, it was hoped that the government would be able to take a stand rather than taking a step back and pleasing whoever applies the most pressure. The ADB states that economic reforms need to continue for several years for their effect to be translated into progress. Here, the government is looking like it has been cornered while just in its second year.
Published in The Express Tribune, September 30th, 2014.
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