Pakistan Tehreek-e-Insaf (PTI) chairman and former prime minister Imran Khan has censured the incumbent government for the economic slide. He has lambasted the current rulers for adding to the common man’s woes.
That his criticism of the present government is not without merit is a fact. Growing political and economic turmoil has provided him with new ammunition to attack the government with renewed zeal and enthusiasm despite his flopped ‘long march to Islamabad’ show.
Massive increase in prices of POL products in recent days has fuelled inflation immensely. Moody’s action of lowering country’s rating to negative has only confirmed the growing vulnerability of an already beleaguered economy that desperately needs the support of global lenders.
The economic slide was highly expected because of a variety of reasons, it’s highly disappointing nevertheless. Although government’s decision that the assemblies would complete their tenure has injected much-needed clarity into its approach to governance, it has added to confusion and uncertainty as it has done little or nothing to fix the economy. Therefore, it increasingly appears that the June 10 budget would not be causing any salutary impact on country’s economic indicators.
There appears to be no light at the end of the tunnel. Inadvertently, however, the government has contributed to Imran Khan’s narrative by failing to take the bull of myriad challenges by horn. The prime minister and his Cabinet colleagues must pull their socks up just now in order to deliver. The government must arrest this slide before the situation transforms itself into a dangerous crisis.
Mehrin Abbas (Islamabad)
Copyright Business Recorder, 2022
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