Consensus against inflation

44

DESPITE the fact that the Government is entangled in a web of legal, constitutional, judicial, economic and political crises, it has taken a decision, in principle, not to burden people more with inflation and understandably so as back-breaking price-hike was the prime grievance of the people against the PTI Government.

The sensitivity of the leadership to the economic woes of the masses was highlighted by PML(N) leader Maryam Nawaz who declared on Thursday that it is better to quit the government than bring more burden on the poor.

According to media reports, the Government is being pressured to take tough decisions, especially reversal of the fuel and electricity subsidy but heads of major political parties of the coalition set-up are reluctant to do so fearing this would make life of the people miserable.

The Government is also mindful of the adverse impact of the subsidy on the national economy and its linkages with the resumption of the IMF programme, which is a sort of pre-requisite for ensuring foreign inflows.

Talks are underway with the IMF and no one knows for sure what conditions the Government would finally agree with the Fund but the logic demands withdrawal of subsidy should be in a gradual manner and prices should be adjusted downwardly if price of oil comes down in the international market.

There are also clear indications that the Government is not clueless as to what it needs to do to bring the economy back on track without putting more burden on the common man.

Under an ‘emergency economic plan’, the Government has banned import of 38 non-essential luxury items to save the country’s precious foreign exchange.

Minister for Information and Broadcasting Marriyum Aurangzeb has asserted that the Prime Minister was working hard to stabilize the economy and given the track record of Mian Shehbaz Sharif as a deliverer, there is every reason to be optimistic about success of the Government’s strategy to reform the economy and at the same time provide relief to the layman.

 

Previous articleLHCBA, CCPO agree to enhance mutual cooperation
Next articleSignificance of China for Pakistan