Most of the time, political uncertainties are the main news stories in our part of the world, the uncertainties monthly economic report released by the Federal Ministry of Finance has failed to grab the attention of the countrymen, which has enough content to generate worries for policymakers. According to the report, in the first five months (July-November) of the current financial year 2021-22, the country’s current account deficit increased by 5.3% to $7.10 billion from the same period last year. During the period July-October, the fiscal deficit narrowed sharply to Rs775 billion from Rs577 billion this year. The same report highlights that due to significant improvement in economic indicators, remittances, exports, and gross foreign investment have gone up, while an increase in industrial outputs and a decline in global commodity prices, along with inflation are also expected in the coming months. The total foreign investment was recorded at 72.9%. In the period July to November 2021, the Federal Board of Revenue (FBR), revenue has recorded a growth rate of 36.8%, while the growth rate of non-tax revenue has been recorded at 5.4%. The disbursement of funds under the federal government’s Annual Development Programme has increased by 250%. The monthly economic report released by the Federal Ministry of Finance is pointing to positive economic indicators in the country, but despite this, the poor continue to suffer and inflation continues to rise. Good and better education and medical treatment facilities have become a mere dream for the people. The political promises of the present government included the improvement of the economy and the well-being of the people. Although there is economic improvement in the economic report, the well-being of the people is still a question mark.
The government needs to formulate practical and lasting economic policies that will truly alleviate the suffering of the country’s poor and enable them to lead comfortable lives.
