Seeking new economic paths

By appointing most senior generals for the top military slots, Prime Minister Shehbaz’s government has put to rest unsettling speculations. The real test, however, is on the economic front. Much depends on handling the toxic mix of steep inflation and sagging growth. The latest data tracks inflation at 30.1 per cent year-on-year. The World Bank projected a GDP growth rate of 2.0pc in the current fiscal ending in June 2023. People aspire for jobs to support decent living standards. They are already on the edge of their wits struggling to make ends meet. Their frustration is compounded by watching harrowing images and hearing sad tales of homeless families in parts of flood-affected areas, threatened by want of very basic needs. The government will need to move swiftly and decisively to ease economic pressure on households and restore business confidence.