Markets Print 2019-06-19

Partly Facetious: Rise in temperatures

"You land in Pakistan and the air will transform you."
Published June 19, 2019

"You land in Pakistan and the air will transform you."
"Transform you how?"
"It's very hot here, so it would transform you from a cold blooded animal to a hot blooded animal."
"That's sounds so very idiotic that I will not respond to it."
"Hey, there is logic in what I say. You may not agree with the logic but there is logic."
"If you are referring to the rise in political temperatures, what with the Zardis insisting that their leader Zardari sahib be produced in the assembly with the Speaker hesitating no doubt on the instructions of The Khan, the leader of the opposition Shahbaz Sharif is insisting that he won't begin the budget debate unless he gets pin drop silence from the treasury benches and the treasury benches saying they won't let Shahbaz Sharif address the assembly unless they begin to respect The Khan as and when he deigns to attend the assembly session and delay in issuing the production orders for Zardari sahib will continue..."
"Hey, you know and I know that the budget will be passed in the twinkling of an eye as The Khan continues to have the support of all institutions and..."
"Except the bureaucrats who are not following instructions, or so he says."
"OK, except those bureaucrats yes but The Khan has warned them to behave, he will not tolerate bureaucrats not following instructions and..."
"Reminds me of the father of the nation Jinnah..."
"Yes, The Khan has many similarities..."
"Jinnah advised the bureaucrats not to follow orders when they violated..."
"Yeah, yeah, anyway there is the matter of the reference and the Attorney General's body language..."
"Body language be damned, it was the government's prerogative..."
"Oh dear...anyway when I said Pakistani air transforms all who enter I was referring to the Governor State Bank talking to the media in all major cities and answering questions and insisting that the IMF policies were the right ones....does he know that inflation in this country that affect the poor is not sourced to high aggregate demand but to ability to pay - let him buy fruit in his government given fancy car and then the same fruit from the same vendor in a Suzuki? Does he know if the government raises petrol prices, by raising taxes, viola! The price of everything rises even if you adopt a market based exchange rate or raise the discount rate - and the proof of the pudding is in the eating..."
"Well, it took him over a month to hog the airwaves like the rest of The Khan's appointees...Hafiz Sheikh took less than a day and The Khan has addressed the nation five to six times, around four to five times more than Zardari and Sharif put together and......"
"That's the new Pakistan silly!"

Copyright Business Recorder, 2019

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