“Hey things are looking up – the large scale manufacturing index registered negative 3.62 percent in July against negative 14.96 percent in June.”
“I guess our caretaker finance minister was right then!”
Anyway for the information of our caretaker finance minister I would like to make two observations. First, the July figures have come and if I recall correctly she was nowhere on the scene at the time. The June figures were worse because courtesy Ishaq Dar’s poor understanding of basic economics and how to sustain all relationships, except the samdhi relationship, the agreement with the Fund was not reached till 29 June…”
“Oh right and second?”
“Second, the LSMI index remains in the negative and while I admit that negative 3.62 percent is better than negative 14.96 percent yet it’s a further decline from the June figure if you know what I mean.”
“The caretaker finance minister also noted that the inflation rate is down as well so I guess coming down from a high of 28.3 percent in July to 27.4 percent in August is hardly going to provide a comfort level to the general public.”
“Hey back off from here – weren’t these two claims also made by the high powered, highly qualified Monetary Policy Committee in its statement on 14 September?”
“Oh yes I did forget about that, but why don’t you look at the glass as half full.”
“How?”
“Now that the two carefully selected economic team leaders are on the same page, read on the same page and one is not reading what the other clearly and unambiguously instructs him to read…”
“If you want to say that the selectors of the two leaders are different why don’t you just come out and say it!”
“I maybe a fearless matador in my own home but tread with caution outside – extreme caution and follow the directives as I get them.”
“Matador? Why not a lion?”
“A lion is the king of the jungle, I ain’t Notification Maryam Nawaz so am under no delusion that I am the king, I am just someone who tries to fool the bulls with my red cloth.”
“Makes sense.”
Copyright Business Recorder, 2023
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