The free fall rupee devaluation has left the Pakistani market in a state of frenzy despite the claim that it was a much needed move after the artificial control of the value of the rupee by the previous government. Many are speculating that this is a part of the deal with the International Monetary Fund (IMF), however, Finance Minister Asad Umer is confident that the move along with the economic policies that the Pakistan Tehreek-i-Insaaf (PTI) will pursue will change the economic outlook of the country. What is needed at the time is the laying out of a concrete plan which not only answers all questions of the relevant stakeholders but also takes into confidence the masses which feel alienated by the move.

The economic situation that the new government has had to adopt is very challenging and the devaluation of the rupee will agitate the market forces in Pakistan. This not only means that local businesses will be affected but also hints at the rise in inflation over the next few years. These certainly are corrective measures but the government now needs to have the opposition on board and clarify their concerns. Initiatives like the amnesty schemes, Benazir Income Support Programme (BISP), and the laptop distribution schemes might pose as added burden on the economy but these initiatives also provide relief to many. The balancing act must take into account such programmes, so that all parties feel included in the process, otherwise the trajectory of politics in the country will remain the same.

Pakistan Muslim League Nawaz (PML-N) has issued a white paper on the government’s 100 day performance, stating that the economic projectors do not anticipate a strong economic outlook as promised by the government. A feasible solution to this problem is creating a dialogue channel to address the relevant concerns and to separate out political gimmicks. The new government has the space to shift the political outlook of the country to be more inclusive because the agenda at the end of the day is human development and unless all parties are on board, this cannot be achieved. The provincial government in Sindh is already taking strides to introduce programs which will provide immediate relief to the citizens. Such initiatives must be appreciated and facilitated to remove the air of tension. The provincial and the federal need to go hand in hand in order to resolve the issues of the country. A channel of feedback needs to be established, which will ensure objectivity and allow all lawmakers to play their part in economic progress.