KARACHI:
In the past, Prime Minister Shehbaz Sharif held the position of Chief Minister of Punjab twice and gained the reputation of a doer. After coming to office, he kept trumpeting that the former PTI government’s team was incompetent and only his experienced team could steer the country out of the economic mess. He vowed to control inflation, put the economy on track, and rid the country of the clutches of the International Monetary Fund (IMF).
However, it now seems that the federal government is incapable of handling the situation. Inflation is continuously surging with the currency depreciating against the dollar. The country’s forex reserves are at an extremely low level and prices of essential items are skyrocketing. Instead of introspecting and owning up to their shortcomings, the PDM-led government is blaming everyone but themselves. They must understand that pointing fingers and trying to divert attention from the declining economy will not get them anywhere.
The only chance of recovery we have is through unity and hard work. Our politicians must bury the hatchet and sit together to devise plans to steer the country away from disaster. Borrowing from the IMF and other lenders to retire old debts and run the government is not a sustainable plan. It will eventually push the country into bankruptcy and an economic abyss. I hope and pray that the Prime Minister and his allied parties will understand this and start working to resolve the problems because we are running out of time.
Raja Shafaatullah
Islamabad
Published in The Express Tribune, July 31st, 2022.
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