Misplaced priorities

Some hard facts: the World Bank sees an ‘anaemic’ outlook of Pakistan with a growth rate of just 0.5% in this fiscal year — the lowest in South Asia and poverty is expected to have increased for the first time in two decades. The half a percentage economic growth rate is far below the official target of 2.1% that the PTI government has set for its third year in power. The government, meanwhile, is in talks with the IMF to revive a $6 billion bailout package that has remained suspended since January. The revival, however, is not without stringent conditions. The IMF wants the PTI government to further raise electricity tariff and impose additional taxes in order to deal with the out of control circular debt problem and budget deficit. Will PM Imran Khan give in to the IMF demand? If he accepts these conditions it will result in further hardships for the masses and strangulate the businesses already suffering because of Covid-19 and flawed economic policies of the government.

The problem for the government is that many economic experts believe that Pakistan cannot walk out of the IMF programme since it still needs the bailout package to keep the current account deficit under check. On the other hand, inflation continues to increase as prices of daily commodities are increasingly getting out of reach of the common man. Federal Information Minister Shibli Faraz came up with a bizarre statement recently when he stated all economic indicators were positive and inflation was the only issue. A layman must be wondering what kind of economic positivity is this when it is not benefiting the masses.

In just over two years in office, the PTI government was rocked with sugar, wheat and petrol shortages. The incumbent government has time and again blamed the previous administrations for the economic mess, seeking time to rectify the issues. But when it comes to sugar and wheat shortages, the PTI government is solely to be blamed. The government first exported sugar while doling out subsidies to sugar barons. The export caused a shortage of sugar, leading to the price hike. Despite inquiry and fixing responsibility, the government failed to bring down the sugar prices. The story is not different in the case of wheat. The government first allowed the wheat export, triggering shortage and price hike and ironically now it is importing the commodity. These were the main reasons behind the shortage and increase in sugar and wheat prices.

That is not the only problem. The fact is that this government has done everything except bringing a real change — something that was its main election slogan. But despite these bitter realities, the PTI government is still obsessed with the opposition. The address by PM Imran at the lawyers’ forum only showed that he has once again climbed on the container. True that accountability and putting opposition leaders “who plundered the national wealth” behind bars was among this government’s top priorities. But these opposition figures will not become irrelevant just because of corruption cases here and there. Imagine if the government had delivered on some of its promises, like those related to reforms, the opposition parties might have already become irrelevant.

The fact that the PTI government failed to bring any tangible results has allowed these opposition parties to gradually make a comeback. The government has already completed its two years in power. Can it turn the tables in the remaining three years? For that, this government or those who run it need to realise the situation is not heading in the right direction. The sooner they realise the better.

Published in The Express Tribune, October 12^th, 2020.

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