This refers to "'Stabilisation First'?" carried by Business Recorder on Wednesday. The writer has painted a grim picture of country's economy by presenting. He has argued that "the economy cannot recover on its own and if it doesn't recover soon, it might take far longer time with many measures to recover. Pakistan needs to change its fiscal policy stance; it needs more investment in physical infrastructure and human capital and less tut-tutting about fiscal deficit".
According to him, "the time has come to move out from 'Stabilisation First' policy and strike a balance between growth and stability." Economic stability generally leads to achieve stable prices and sustainable growth. Doesn't the noted economist know that the hardest path of stabilisation is growth?
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