The State Bank of Pakistan's third quarterly report has pointed out that despite stabilization phase led by demand management policies, vulnerabilities in the inflation, external and fiscal sectors persisted, which suggests that current stabilization agenda needs to be reinforced with deep-rooted structural reforms.
That the foregoing implies that country's economy is still in an ICU is a fact. We were in a very difficult situation, and on top of that the international arbitrators, particularly World Bank's court, have made a bad situation worse. In other words, this development has added insult to injury. The prime minister has taken the right step of ordering formation of a commission to investigate as to how Pakistan ended up in the Reko Diq predicament.

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