This is apropos a Business Recorder op-ed “When did Noah build the Ark?” carried by the newspaper on Thursday. That the writer, Shahab Jafry, has presented a highly informed perspective on the current economic impasse is a fact. In other words, he has advanced his argument with conviction, in fact genuine conviction. He has argued, among other things, that “Fitch went a step further.
After duly appreciating the SLA and of course the country’s “funding prospects”, its Business Monitor International (BMI) delved deep into Pakistan’s political economy and presented a 10-year risk profile. Politics aside – Imran staying in jail, surprising judicial sovereignty – it also said very clearly that the present coalition government is “likely to collapse in the event of a sharp increase in violence or a painful economic crisis prompting a widespread crisis movement”. It reckoned the government had about 18 months left in office, and an election would not follow.”
An election would not follow. What’s then in store for this nation? In my view, more despondency, bickering, social unrest, etc. There seems to be no light at the end of the tunnel. Although a tendency to see the worst aspect of things or believe that the worst will happen is not a healthy approach to challenges, the situation has cast an air of deep pessimism.
Naheed Gill (Lahore)
Copyright Business Recorder, 2024
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