The talks between the government and an International Monetary Fund (IMF) delegation are scheduled to take place tomorrow.

It is quite heartening to note that the Caretaker Prime Minister Anwaar-ul-Haq Kakar is optimistic or upbeat about the success of talks which would ultimately lead to the release of another tranche by the Fund.

The caretaker setup appear to have derived its confidence from the results of certain steps that it has taken in recent weeks such as an effective and meaningful crackdown on smuggling and illicit currency trade in particular.

The government-army efforts have arrested the slide of a beleaguered Pakistani rupee, instilling a sense of optimism among people, including investors and traders, across the entire spectrum of economy.

It is important to note that the prime minister has claimed that the action taken against smuggling, especially under the Afghan Transit Trade, has boosted the morale of businesspeople in the country. That local industry has again begun to register increased output because of recent government actions is a fact.

In my view, the governments that have preceded the current interim government, which is interim insofar as its mandate is concerned, were either complacent or complicit towards the growing challenge of smuggling of goods and currency.

The gains made by the current setup must not be squandered at the altar of political exigencies by the next elected government or all the governments in future. The economic team led by Dr Shahmshad Akhtar is expected to lay the groundwork for the required policymaking processes in near future.

Ahmad Raza (Karachi)

Copyright Business Recorder, 2023