How ironic it is that the rupee has been falling against the US dollar consistently. According to noted economists, there are a host of issues behind the rupee slide.

Unfortunately, however, the lack of empathy on the part of political parties, including those in the government, is lamentable. The incumbent government has done little or nothing to help arrest the rupee decline. The previous government, an equally incompetent one, was in fact responsible for ruining the country’s economy.

The present unprecedented size of Current Account Deficit (CAD) says it all. The incumbent government appears to be clueless about the economic challenges facing the country. Urging the International Monetary Fund (IMF) to give Pakistan more cash to aid its economy is a positive step, but it is not enough.

It is, in fact, required to come up with a comprehensive, detailed and creative economic roadmap without any further loss of time. It now is a matter of urgency that required steps are taken to improve the situation.

Ghazi Pervez (Karachi)

Copyright Business Recorder, 2022