The Pakistani economy is currently facing a crunch and if a solution is not provided soon enough, the results could be disastrous. The dollar prices are rising incrementally with each passing day and with that all factions of the economy are bound to suffer. Dwelling on the past will not do much benefit, however, if the increase in dollar prices is seen over the last two decades, the highest percentage increase was in PTI’s era. This can be attributed to not only inexperienced policy makers and destructive economic policies but also to the poor diplomacy of that government. Now the people in charge have to clean the mess created by their predecessors and that is what they have been trying to do since April. However, due to the strained relations between Pakistan and other powerful states it is becoming extremely difficult.
The Chief of the Army Staff, General Qamar Javed Bajwa, has once again stepped up for his nation to take care of the people. Although, it is not his duty to solve economic problems, however, due to the incompetencies and wickedness of certain individuals, he had to use his good relations to save the country from a complete economic crisis. General Bajwa reached out to Washington to push the IMF into providing Pakistan with a loan of $1.2 billion which was agreed upon in several earlier meetings. The army chief worked in tandem with Prime Minister Shehbaz Sharif who is also working day and night along with his team to take Pakistan out of the crisis. Quite recently, on his orders, the price of Petrol was reduced to rupees 231. This has provided some relief to the poor and downtrodden who had lost complete hope in survival. This reduction in fuel prices will positively affect the markets as costs will decrease and eventually the consumer will gain with lower prices.
The current situation demands better diplomacy and the higher ups are required to work day and night for the betterment of the country. General Qamar Javed Bajwa also met with the Chinese Ambassador to Pakistan as the IMF has put a condition on Pakistan to acquire a loan of $4 billion from friendly nations. The closest friend and ally to Pakistan in China, therefore, the army chief met the nation’s representative in the country to talk about the loan. In the meanwhile, the PML-N government is working all hands on deck to save Pakistan from landing itself into deep waters. The import ban on luxury items has significantly reduced the import bill which means that less dollars will be bought in exchange for Pakistani currency, hence reducing the demand for dollars which will consequently decrease its price in the foreign exchange market.
General Bajwa’s efforts are what will save the country in these hard times. His appeal to the US and talks with ambassadors of friendly nations seems to the gleam of hope in such dark times. With the right kind of diplomacy the US will be swayed towards putting pressure on the IMF and World Bank to provide Pakistan with the loans it requires to prevent default. The mess created by the predecessors was great, however, with such loyal statesmen and Army generals Pakistan is likely to jump back onto its feet in no time. Currently, the situation may seem difficult but at least the country is finally in the right hands, the hands of those who want to see the nation grow and not those who are ableists and apologists of terrorists and criminals.
