THERE was understandably no official version yet media reports suggest the Chief of Army Staff (COAS) Gen Asim Minir has expressed optimism about an imminent end to ongoing economic woes of the country. In a meeting with a delegation of business community, reportedly held at the request of businessmen, Army Chief tried to assuage apprehensions being expressed by industrial and business circles about unending political and economic uncertainty in the country. He told top businessmen representing different sectors that nations face difficult times and we are also facing tough times, yet the worst is behind us and we will prevail.
The meeting brought to fore concerns being expressed by business community about political turmoil that is adamant not to subside because of multiple factors and far-reaching impact of resultant instability on overall economy of the country. Investment needs peace and continuity of policies yet situation in Pakistan is so fluid that no one can predict what could happen the next day. The meeting also showed that business community expects the army leadership to play its role in stabilising the situation as country is suffering immensely because of tug-of-war and deep polarisation. There are also reports that at the instance of participants, the COAS informed them that the two sides on political divide were encouraged to sit across negotiating table through the courtesy of President Dr Arif Alvi but this could not materialise as one of the parties wanted to meet him instead. Pakistan Army has declared on a number of occasions to remain neutral in political affairs and this policy is being pursued in letter and in spirit by incumbent leadership of the institution.
The meeting and factual briefing of the entire situation by the COAS would surely go a long way in reassuring business community that a change for the better was in sight. No doubt, the government has completed all prior conditions of the International Monetary Fund (IMF), which would make it possible to sign a staff level agreement within this week and that could prove to be a beginning of normalisation process. Already, some friendly countries, especially China, have extended concrete support to help stabilise the financial conditions of Pakistan and an accord with the IMF will encourage others to fulfil commitments they already made to cooperate with Islamabad in dealing with its financial crisis. However, Pakistan might have avoided a default but sustainability of the economic measures taken by the government will remain a big question mark in the absence of political stability.
