As political reconciliation seems to be getting remote, it is literally getting jittery. The immediate casualty is the economy as it sits at the cliff. The government’s stunt that it will not engage the PTI in a dialogue, despite the latter’s one-conditional point of holding elections, is pushing the entire mosaic in a critical zone of confrontation. Pakistan ironically faces not only political instability but also an acute constitutional conundrum and economic nervousness. This entails some serious introspection from all stakeholders. The issue at hand, these days, as inflation rides high and the IMF has categorically conditioned its terms, is to find a way out of the messy situation and not only avoid a default but also societal degeneration.
IMF spokesperson Nathan Porter’s concerns must solicit some detailing from the powers-that-be. The Fund has pointed out in unequivocal terms that “overcoming the present economic and financial challenges would require sustained policy efforts and reforms for Pakistan to regain strong and inclusive private-led growth.” There cannot be any two opinions over it and, at least, the government and the opposition are on the same page on this assessment. Likewise, the IMF’s extra-jurisdictional comment that “a peaceful way forward is found in line with the Constitution and the rule of law”, as it referred to the evolving Pakistan’s political situation warrants some deep ears. One cannot just brush aside this piece of judgmental view as interference, as loan-seeking countries have no recourse but to throw open their options for a viable way out. Any possible sovereign default will lead to a run on the mill in terms of prices of essential commodities and medicines, and could hit a point of no return.
Through these lines, we intend to seek a grand rapprochement between the warring factions on the domestic front. It’s time to pull over, take a pause and look at the bigger picture of coexistence. That is how democracy and rule of law can be ensured from any extra-constitutional intervention. That is the only way ahead.
Published in The Express Tribune, May 31st, 2023.
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