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"The MQM has succeeded in compelling the government to slash the recent increase in the price of oil by 50 percent."
"Is that good or bad?"
"It's good for the MQM - it can legitimately claim to be a people's party however the fallout of a reduction in the announced oil price by 50 percent would be more or less the same within the next two months."
"How come?"
"Inflation sourced to a rise in oil prices almost immediately impacts on the common man, in contrast inflation due to a rise in budget deficit - which the oil price rise was targeting to reduce - would raise prices within the next two months as the government struggles with its burgeoning budget deficit. The government's strategy to meet its deficit is either through borrowing from abroad - an option that is not available as our external donors have refused to extend budgetary support until some politically difficult reforms are implemented; or begins to print money which need I remind you is ongoing."
"So from the public's perspective it's damned if the oil price is raised and damned if it isn't."
"Correct but politically MQM has won many brownie points with the public by forcing the government to agree to a 50 percent reduction from its original announcement."
"Hafeez Sheikh and Rehman Malik were part of the PPP team negotiating with the MQM."
"Maybe the government should give Rehman Malik the Finance Ministry and keep Hafeez Sheikh as an advisor."
"You mean follow Shabaz Sharif's example: he gave revenue ministry to his Law Minister."
"Seriously Malik sahib's contribution to the law and order situation in the country is at best zero, and at worst negative. In addition he does egg on the Sharifs by jumping the gun - accusing the Punjabi Taliban before any investigation has even begun."
"The report on the Bhatti assassination has been submitted to Gilani by Malik."
"And what does the report contain with all the accused having escaped? That a murder took place and the men responsible are the Punjabi Taliban! I thought the Tehrik-i-Taliban Pakistan had claimed responsibility so why create discord."
"Why not! Malik gets tired of creating harmony with the MQM and so has to vent his anger somewhere."
"Shahbaz Sharif has warned Malik..."
"If Shahbaz Sharif wants Malik to take his threat seriously then he needs to work on the President."
"Ah that's not possible."

Copyright Business Recorder, 2011

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