Shifting gears

AFTER many years of extreme uncertainty and political instability, it now seems like things are finally starting to move. Two developments this week point to this. First is the visit of the foreign minister of Saudi Arabia, during which the talks seem to have focused in significant measure on some form of economic engagement between Saudi Arabia and Pakistan. The language used by the Saudi foreign minister at the joint presser at the conclusion of the visit was also unusually bullish on the prospects of growing the ties between Pakistan and Saudi Arabia. The second development is Finance Minister Muhammad Aurangzeb’s round of engagements in Washington, D.C., where he is attending the spring meetings of the IMF and World Bank. One thing he made clear in all his public engagements was the urgent need for a successor programme with the IMF as soon as the ongoing Stand-by Arrangement ended. He also made clear that talks on this had begun, and outlined three key areas that will be targeted for “structural reforms”: taxation, power and state-owned enterprises. His emphasis was on execution, indicating that he will press hard on the matters he commits to.