As of now, Pakistan’s political picture is very clear. We got a glimpse of the Imran Khan who finally approached to be a ruler. His party Pakistan Tehreek-e-Insaaf passed milestone with success. Abraham Lincoln stated that “If you want to test a man’s character, give him power”. It means IK got a power (besides how), now he is in a spotlight and voters will assess their choice. Though the power is not always pleasant and there are difficult things to deal with. How IK will meet the challenges, that’s the most interesting question. There are multiple challenges need to be addressed soon to a lacking experience government. There’re various demands that required an immediate response. From the beginning of the probationary period, PTI’s leadership is to face some severe and foremost challenges. The prime, economy challenge, twisted international relation and never-ending domestic challenges as well. In my opinion, the most back-breaking task is to meet with the public expectations. The expectations are high since IK is struggling to convince the public on his tabdeeli (passion of hope) agenda. Imran Khan’s promises are alone a big challenge.
I believe my society and especially our educated class knows very well the magnitude of complications. They knew that addressing such an oversized volume issues is a tough assignment for a naïve government. Moreover, they can support the naïve government to take difficult decisions as well. But at the same time public at large desires extremely instant tabdeeli (passion of hope) and approach towards improvement.
On the subject of Pakistani economic condition, a prominent American newspaper analyzed that Pakistan’s current account deficit (CAD) skyrockets to historic high and crossing $18bn during 2017-18. The International Monetary Fund (IMF) has reported Pakistan’s net international reserves after excluding its foreign exchange liabilities are depressing $724 million. Whereas, with remaining net’ reserves new government cannot survive for more than 2 to 3 months. Pakistani rupee is incredibly in intense condition. The tax collection progress has still remained slower and poor in Pakistan. A country of 200 million population and its taxpayers are not more than 1 million. The incoming finance minister Asad Umer addressing a US think-tank from Islamabad, said: “Pakistan had been running a current account deficit of $2 billion a month for the last three months.”
PPP’s Naveed Qamar and PML-N’s Tariq Fatemi also spoke at the think-tank — the US Institute of Peace — and endorsed the study that Pakistan was facing a major financial crisis, perhaps the worst ever in the history. The incoming finance minister is found always talking about the challenges to Pakistani economy. He also came up with suggestions on how to conquer the crisis. Asad Umer always used to say all possible measures will be taken to strengthen and stable our economic condition. As he wants strong mutual relations and wooing at national institutes to work together.
How we can oppose the facts that in Pakistan there are many projects in progress with the help of China and we are to pay loan amount to Beijing. Furthermore, IMF can also apply some hard and fast conditions as well. In this regard don’t forget American foreign minister Mike Pompeo’s statement as he realized that “IMF’s dollars actually belong to Americans taxpayers and this is not for Chinese companies to pay. We are closely watching and will not let to do this”. In this chapter Pakistani authorities disagreed to there is no relativity of IMF program with Chinese loan. And it’s a different subject. Whereas China is among those countries who are itself a contributor to IMF funds, asked America to be a part of One Belt One Road (OBOB) project to turn into beneficiary. Another opinion about American foreign minister’s statement is that he just tried to putting some pressure on Pakistan.
There are further little positive activities in international politics’ drawing room, winning our hearts. A phone call between Iranian president Hassan Rouhani and Imran Khan- and a delegation led by US acting Ambassador to Pakistan John F Hoover met PTI chairman at Banigala. Issues of mutual interests, as well as Pak-US relations, mutual trade, and solidity in Afghanistan, came under dialogue. These are some positive gestures.
The country that is already exhausted by extreme challenges needs short period arrangements. Sincerity is the key to effective leadership and along with other ways to reduce Pakistan’s expenditure. IK has proposed reducing the number of ministries in Pakistan to just 17 from the present 37. He had also guaranteed to stop discretionary funds and development funds given to Parliamentarians. He also promised to reduce expenses on the residences of the President and Pm house by half. Imran Khan’s economic vision is bold, but if he gets it right Pakistan could be moving towards ‘Naya Pakistan’.
Islamabad, August 12.