“Trust deficit”, not anything else perhaps, is the principal reason behind the story of stalled International Monetary Fund (IMF) bailout, according to finance minister Ishaq Dar.
In other words, Dar sahib is implying that the lender of last resort does not trust Pakistan any more, given the record of successive governments’ failures to honour the pledges that they have made with the IMF over a period of time.
Although it is quite possible that the ninth review of IMF will be finalised in “the next few days” resulting in much-needed release of a tranche, we need to hang our heads in shame that our governments have relegated the stature of a responsible nuclear power to an irresponsible state that has been attracting such kind of unsavoury remarks not only from a global lender but also from our friends, including Saudi Arabia, who have openly expressed their doubts over our rulers’ commitment to bringing about the required reforms.
The government, in my view, is required to take every possible step aimed at plugging the trust deficit in order to protect and preserve country’s image of a trustworthy and responsible member of world community.
Reneging on pledges time and again will only add to our economic woes; it may even harm country’s political interests as well.
Jahan Ara Syed (Karachi)
Copyright Business Recorder, 2023
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