This is apropos a letter to the Editor titled “IMF is here to stay” carried by the newspaper last Saturday. The writer, Farhat Ali, has raised a very important point in the beginning of his write-up.

He has said, for example, that “Many people hail the agreement [between the government of Pakistan and International Monetary Fund] as a remarkable achievement while some question it: at what cost and of what benefit is it to the people of Pakistan? While the loan beneficiaries feel secured to survive yet another day on borrowed money, the loan is to be repaid by the future generations - a truth more close to reality.”

No doubt, his is a valid point to present a sardonic comment on our woeful state of economy. The current spell of political bickering seems to have added to anxiety among people that pervades across the country as everyone seems to be increasingly worried about the situation that promises no light at the end of the tunnel.

Our successive governments that have been ruling the country since 2008 in particular are responsible for bringing the country to this pass. There has been no conceivable justification for such fiscal prolificacy. That there’s a mood of gloom and despondency in the country is a fact. It is a fact that the nation’s despondency goes deeper than politics.

Rehana Khan (Islamabad)

Copyright Business Recorder, 2024