This is apropos a Business Recorder editorial “PM’s ‘strategic roadmap’” carried by the newspaper on Monday. The newspaper has concluded its argument by saying, among other things, that “Over the course of the next year alone Pakistan must make close to $40 billion in debt repayment.
When we’re falling all over ourselves for a mere trickle from the Fund, how are we going to arrange all that money in such short time?” Unfortunately, the incumbent government does not realise that they have come to the end of the road of their policy. But the question is whether it has any policy ever since it came to power in April this year. Confusion still abounds about the IMF programme, although finance minister Miftah Ismail is repeatedly saying that it is very much on track.
Not only is stock market lacking lustre, the rupee is trading above Rs 200 against one USD because things are not clear as yet. In other words, the government policy is still shrouded in mist. Therefore, the question how we will arrange $40 billion in such short time has no easy answer.
Waqar Khan (Islamabad)
Copyright Business Recorder, 2022
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