This is apropos a Business Recorder op-ed ‘The economic malaise’ carried by the newspaper yesterday. Dr Hafiz Pasha deserves a lot of praise for presenting a highly objective and informed analysis.
He has argued, among other things, that “The overall evidence of a large number of macroeconomic variables showing substantially negative trends leads to the conclusion that this is the worst period in the economic history of Pakistan. ... We will, therefore, also see the biggest increase over the year in the numbers of unemployed by almost 2 million and the poor by over 18 million. It is truly a very sad period in the economic history of Pakistan.”
The foregoing clearly indicates that the country’s economic crisis is aggravating rapidly, putting people, particularly those belonging to middle and classes, through enormous hardship. No doubt, this is an erudite and impassively researched perspective by Dr Pasha.
Whatever he has argued in his op-ed is of profound significance insofar as the plight of the country’s economy is concerned. In my view, each word of his that he has penned seeks to bring our rulers to a realization of the truth. They are therefore required to open their eyes to the problems highlighted by the noted economist and stop ignoring them.
Sajid Randhawa (Rawalpindi)
Copyright Business Recorder, 2023