The Pakistan Democratic Movement (PDM) government versus the Pakistan Tehreek-e-Insaf (PTI) war of attrition has taken a new ugly turn with each side stepping up its attacks to the chagrin of the country’s economy in particular. Needless to say, growing political uncertainty is the main reason behind the current chaotic economic situation.
A look at headlines in national newspapers clearly shows that the situation is becoming increasingly complicated with passage of each day, adding to hopelessness and uncertainty. Not only is political instability deepening, causing confusion, anxiety and even fear among the masses, all efforts aimed at fixing the economy appear to be of little or no avail. In my view, the government and Opposition are acting in a highly irresponsible and imprudent manner, to say the least.
The government, for example, is still showing ambivalence towards PTI’s fresh election demand; in other words, it is not coming clean even about a tentative date for general election to lower the political temperature in the country. On the other hand, PTI’s protest drive has already sowed enough seeds of a rich harvest of social unrest in Punjab, the country’s most important province, thanks to the deepening economic crisis.
It is not that the government is complacent about the economic challenges facing the country; the situation is unprecedentedly formidable to bring about any improvement in the beleaguered economy in the short term.
The International Monetary Fund (IMF) hasn’t come to its rescue at all. Prima facie, the Fund is displaying some kind of hostility towards the country or the current government. How ironic it is that the IMF is no longer a solution to the problem; it is in fact a part of the problem, giving birth to speculations that it is perhaps pursuing an agenda that is inimical to the country’s security and strategic interests.
Nadir Khan Tiwana (Rawalpindi)
Copyright Business Recorder, 2023
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