Continuing in the economic quagmire

Prime Minister Shehbaz’s rudderless government has failed to inspire trust in the economy, currently in a mess, with brewing currency, energy and commodity crises, making bare survival difficult for a wide majority of lucky working Pakistanis. What it must be like for the jobless is anybody’s guess. The rise in crimes committed by people against their own families gives clues about the severity of stress in society. No one expects wonders, as all efforts so far have failed to deliver tangible results. Both former and current finance ministers Miftah Ismail and Ishaq Dar can self-aggrandise as much as they want, people and businesses doubt their skills and intent. Former finance minister Miftah Ismail did succeed in striking the International Monetary Fund (IMF) deal but at a crushing cost for commoners and corporates that, in the end, only bought some time as the country is back where it started — on the verge. Instead of directing policies to tax parasitic rent seekers and wasteful elements, he let the burden of new levies fall evenly on everyone, including the productive sectors and those already crushed by inflation. It is hard to digest his plea that there was no option.