WITH the federal cabinet's approval of the economic stabilisation plan envisaging foreign assistance, the way is clear for making a formal approach to the IMF Executive Board to give its consent to a loan package of $7.6 billion for Pakistan when it meets on November 23. It bears reminding the government that though a strategy might look foolproof on paper, it would call for certain prerequisites to make it a success. The most haunting fear of the entrepreneurial class in the context of Pakistan today, for instance, is its exceedingly poor law and order situation in which neither life nor property is safe. On those who are charged with the maintenance of peaceful living conditions in the country now falls a major responsibility. Unless the investor feels secure in doing business here, one should not expect foreign capital to flow in, which, incidentally, holds the key to economic recovery, more particularly in a developing country. Even the local entrepreneur will be shy of putting in his money and would look for safer havens. Another point, of no less importance, is the need for financial discipline. The Prime Minister, who chaired the special cabinet meeting held at Islamabad on Wednesday, advised the participating ministers to set targets for their ministries and make sure they are implemented, and that he would go around various departments of the government to check their performance. It would be hard for him to deny that at present the system is causing a lot of wasteful expenditure to occur. If this hole were to be plugged, the IMF support programme would get a boost. The PPP-led government would have created a favourable impact on the public mind and the institution of democracy would be strengthened. Practising austerity would appear an uphill task, especially to unaccustomed hands. But it would help induce the 'Friends of Pakistan', and other friendly donors and countries appreciate our sincerity in making a quick economic turnaround, and chip in as well.