Malik M. Ashraf
While the government has been persistent in claiming that it has been successful in stabilizing the economy and creating conditions for economic revival, the opposition has been mocking these claims, saying they were devoid of reality. In the context of the ongoing negotiations with IMF it was asserted that the new agreement would not be possible without bringing a mini-budget to satisfy the lending agency. It is however encouraging and satisfying that the government has been able to strike a staff-level agreement on the first review under the Extended Fund Facility and new climate finance under the Resilience and Sustainable Facility. The Executive Board of IMF will approve approximately $ 2.3 billion in a six-week period ahead of the upcoming budget. The deal is indeed a well-deserved snub to the opposition.
The agreement was possible because the government had faithfully followed the measures prescribed by IMF that led to the desired economic stability. The IMF in a statement endorsed and acknowledged Pakistan’s progress in restoring macroeconomic stability over the past 18 months, including lower inflation, improved financial conditions and a stronger external balance reiterating the strong implementation of the EFF-supported proramme and the commitment of the government in advancing a gradual fiscal consolidation maintaining a tight monetary policy, keeping inflation at low level and accelerating cost-reducing energy sector reforms and implementation of the reform agenda to accelerate growth. The IMF emphasized that sustaining these reforms is crucial to ensuring long-term economic resilience and inclusive growth in Pakistan.
No doubt the implementation of the IMF conditions regarding macro-economic reforms and maintaining fiscal discipline caused hardships for the common people who had to bear the brunt of price-hike during the process of achieving economic stability, as has also been acknowledge by the Prime Minister, but thank God the things have started moving towards the right direction. The truth is that the reforms suggested by IMF should have been implemented long ago, but the successive governments gave preference to political expediencies over the necessity-driven economic reforms.
While we can rejoice at the success achieved so far but there is no cause for complacency. We still have a long way to go in putting the country on the road to sustainable economic growth. Apart from economic factors the most crucial ingredient which can help to expedite the process is perennial political stability in the country. Unfortunately it remains a missing link so far due to continued confrontation between the government and opposition parties.
Nobody in their right mind and imbued with a sense of patriotism can take an issue with the imperative of political stability and the political parties showing a responsible attitude to ward off the economic challenges as well as eliminating the menace of terrorism. The country not only needs a consensus on economic reforms evolved through the collective wisdom of all the stakeholders to trigger an economic turn around but also an impregnable unity and support to our security forces to eliminate the scourge of terrorism.
These are the most formidable challenges which can be overcome only though collective response. It is time for all the political parties to rise above their narrow political agendas and work for the advancement of national interests. Politicking can wait for better times. Pakistan comes first, and it is incumbent upon everybody to contribute their bit towards strengthening the edifice of the state because our survival and prosperity depends on it.
Terrorism in Pakistan also has external dimensions. The enemies of the country and ill-wishers are sponsoring acts of terrorism within Pakistan using internal elements with a view to destabilize the country and thwarting the efforts for economic revival and growth. The major target is CPEC and it is not a secret which countries do not want it to succeed. The latest attack on Jaffer Express and the following events in Balochistan leave no doubt whatsoever about the nexus between our foreign enemies and the so-called human rights entities in Balochistan.
I remember that the DG ISPR in a presser about six month ago while responding to a question about human rights in Balochistan, had said without mincing words that these entities including Baloch Yakjehti Committee were proxies for the terrorist organizations and criminal mafia. I am sure he could not have said this without irrefutable evidence collected by our intelligence agencies. What the Baloch Yakjehti Committee did in the aftermath of Jaffaer Express incident in Quetta and other cities of the province leaves no doubt about whose agenda it is pursuing. A picture has gone viral showing Mahrang Baloch sitting at the grave of his father, covered with BLA flag, which further reconfirms her links with the terrorist organization.
The writer is a freelance columnist. He can be reached at ashpak10@gmail.com
