“So you reckon its political uncertainty that is responsible for the appalling state of the economy?”
“It does have a role but you know and I know that bandying about the prospect of default, and need I add the lead role was played by…”
“The Khan?”
“I thought Miftah Ismail began accusing the previous government of default and The Khan and company retaliated…I mean they didn’t start the debate on default.”
“But surely they could have stopped the debate knowing that just the word default scares off not only investors, who weren’t coming in at any rate because of domestic (floods plus a massive rise in utilities prices as per the agreement with the Fund) and external factors (Ukraine-Russia war), but the creditors on whom Ismail is relying on to bail the country out of the supposed default?”
“Well, The Khan is a cricketer, and his last finance minister is a banker not quite an economist while Ismail has all the relevant degrees…”
“AH so the The Khan know not what they say while…”
“Precisely.”
“So if political uncertainty becomes a certainty then will the economy stabilise?”
Ï am not so sure… I mean the creditors are wary of giving money on easy terms to Pakistan and…”
“But would they give to The Khan you reckon?”
“Hey while we Pakistanis vote for personalities countries and creditors deal with the country not a personality. As a case in point Vladimir Putin has offered Shehbaz Sharif cheaper energy than in the international market and…”
“So you are saying that until and unless the creditors that include friendly countries…”
“Yes and that may not change with a change in government, I reckon the powers that be need to go back to those friendly countries – the roll overs of 7 billion dollars from friendly countries have happened but the 4 billion dollars they pledged and the Saudi oil facility remain pending…”
“I reckon the pledges will be disbursed after the elections which is why we need snap elections and…”
“If wishes were horses.”
“I don’t know about you but I see horses everywhere – in Bani Gala, in the Prime Minister’s office, in the 70 plus cabinet members…”
“I saw the king of horses in…”
“In Rawalpindi?”
“Nope in the Presidency.”
“Hey the guy is trying you know…”
Copyright Business Recorder, 2022
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