26 C
Lahore
Friday, July 1, 2022
EditorialTargeted subsidy is fine, but...

Targeted subsidy is fine, but…

Prime Minister Shehbaz Sharif addressed the nation in a televised address to announce the further tightening of the economic situation in the country. Along with increasing petrol prices and blaming the previous government for the economic mess, he also announced a relief package of Rs28 billion for the poorest of the country to mitigate the impact of increase in petroleum prices. The relief package will provide 14 million low-income households with Rs2,000 monthly and this will also be included in the upcoming budget. The package will provide relief to around 85 million people of Pakistan, if everything goes according to the plan.

It is anticipated that the relief package will slightly help the underprivileged in this dire economic situation, however, there is no solution.  The prime minister was unable to give a solid solution to the problems that Pakistan currently faces. Narrating the problems and blaming the previous government comes a handy recipe for the rulers of the day. The government must realize that subsidies are not long term solutions and they will not only give temporary relief, if any. Moreover, subsidies will deplete the government’s finances which it already lacks. There is an imminent need for Pakistan to revamp its economic policies so that a long term solution can be made.

Moreover, criticising and lamenting the previous government’s policies and political opponents is an absolute waste of time. Prime Minister Shehbaz Sharif talked about how former prime minister Imran Khan’s government destroyed the economy and how there was rampant corruption during their tenure. It should be noted that the people of Pakistan are tired of political rivalries, name-calling and shaming. They are only concerned with how the new government will provide them with economic relief and lower the rates of inflation.

The new government needs to prove its competency by laying a roadmap for the development of better policies that will control the depleting economic situation. Along with that there should be strict implementation of policies that will reduce poverty and make the lives of common men better. The government has so far asserted its presence on petroleum prices and the law and order situation during the long march of the Pakistan Tehreek-i-Insaf. In parliament, the only meaningful activity by the treasury has been legislation on electoral and NAB laws. Problems are enormous. The government must come out of honeymoon mode and start working aggressively for the public welfare. Time is short, while the economy is dire strait. As the time goes by, political rivalries will remain and one government will not agree with the previous one’s policies. That is politics, It is time to let go of the past and look into the future for the betterment of the nation.

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