The Prime Minister’s first address to the country since assuming office, this Friday, was keenly awaited, as the nation desperately seeks some clarity as to what is going on, both in the political and economic spheres. With the way we saw intense polarisation this week, the address would be an important indicator as to how the new government will be moving forward after the opposition’s march and the ugliness that ensued in the capital.
Moreover, and perhaps more importantly, it is now becoming absolutely necessary for the government to provide some information as to the economic future of the country. There is absolute uncertainty about the future of the prices of essential commodities, currency evaluation, and supplies of goods, and the uncertainty is resulting in an atmosphere of fear, whereby people are frantically seeking to buy foreign currency, or there are long lines in front of petrol pumps in fear that at any day prices could inflate exorbitantly.
Viewing the speech from that context, Prime Minister (PM) Shehbaz Sharif’s speech hit the right points. The PM did take political shots at PTI here and there; that much was expected; however, most of the speech prioritised the pressing issues impacting the country. The government finally increasing petrol prices indicates some breakthrough with the IMF. The PM also reassured that poverty alleviation programmes would not be disbanded in wake of the economic crisis and announced Rs28bn relief package to mitigate the impact of the fuel price hike.
Moreover, the speech had some hopeful signs that the political scenario was as of yet not as divided as it would seem. In the address there appeared to be a call for coming together, with the PM’s idea of the “charter of the economy”. A charter of economy, an idea that has been floated for years but never followed through due to lack of political will, would require all parties to get together on some semblance of an agreement for difficult economic decisions to make for the country’s survival. This is what the country urgently needs the most—and while the indication was subtle, it is hoped that the Prime Minister truly heeds his words and tries to end the unacceptable political divides present currently to open avenues for negotiation and dialogue.
Moreover, and perhaps more importantly, it is now becoming absolutely necessary for the government to provide some information as to the economic future of the country. There is absolute uncertainty about the future of the prices of essential commodities, currency evaluation, and supplies of goods, and the uncertainty is resulting in an atmosphere of fear, whereby people are frantically seeking to buy foreign currency, or there are long lines in front of petrol pumps in fear that at any day prices could inflate exorbitantly.
Viewing the speech from that context, Prime Minister (PM) Shehbaz Sharif’s speech hit the right points. The PM did take political shots at PTI here and there; that much was expected; however, most of the speech prioritised the pressing issues impacting the country. The government finally increasing petrol prices indicates some breakthrough with the IMF. The PM also reassured that poverty alleviation programmes would not be disbanded in wake of the economic crisis and announced Rs28bn relief package to mitigate the impact of the fuel price hike.
Moreover, the speech had some hopeful signs that the political scenario was as of yet not as divided as it would seem. In the address there appeared to be a call for coming together, with the PM’s idea of the “charter of the economy”. A charter of economy, an idea that has been floated for years but never followed through due to lack of political will, would require all parties to get together on some semblance of an agreement for difficult economic decisions to make for the country’s survival. This is what the country urgently needs the most—and while the indication was subtle, it is hoped that the Prime Minister truly heeds his words and tries to end the unacceptable political divides present currently to open avenues for negotiation and dialogue.