An assurance made by President Dr. Arif Alvi to the business community and entrepreneurs about providing a level-playing field is an effort for the economic revival in the country. Recurrent crises in the country due to Corona pandemic, devaluation of currency and inflation, have exhausted the economy and the business community can play an essential role in improving the situation. They have been asked to use every means for boosting manufacturing of export related items. In order to utilise human resources, industrialists have been asked to employ persons with disabilities and women, and improve their business skills to empower them financially.
So far, the economic indicators are presenting dismal picture. Our currency has devalued to a record level, while circular debt has crossed the figure of Rs2.3 trillion. Everybody knows that the government has got only a temporary relief from Saudi Arabia while a deal with the IMF has its own disadvantages. There is no doubt that financial market and investors are aware of the bombshell coming in the near future when the government would be bound to implement tough demands of the IMF.
Economy, social sector, inflation rate, services, infrastructure development, health sector and governance are some of the major indicators that reveal the financial health of a country as well as living conditions of the masses. Arguably, the situation is going from bad to worse in almost all sectors. Inflation rate is going up due to persistent devaluation of rupee while our economy is under severe pressure of loans. The government is still searching for ways and means to resolve the financial crisis that it had inherited due to massive loans taken by the previous government. Moreover, eradication of corruption and ever-increasing economic woes are the main challenges faced by Prime Minister Imran Khan. Unfortunately, the government is still busy giving the lollipop of promises and taking pride in its unaccomplished tasks. Wisdom demands that the PTI leadership should carry out serious introspection about its policies for the economic revival; otherwise it would face the masses’ wrath.