PPP government inherited a derailed economy, which through years of figure-fudging and poor governance had been reduced to a statistical miscarriage of facts. Although six precious months have been wasted clearing away debris of the past, we finally have an economic team nominated by the government to handle a financial crisis. With our credibility seriously dented and our import bill and outstanding debt payments threatening to take us to a possible default, Mr. Shaukat Tarin has a very uphill task. His assignment mandates stringent bookkeeping, gagging all revenue leakages, cutback of non-development expenditures, strict fiscal discipline and a budget with expenses commensurate with our net earnings. A review of our 2006 budget reveals that our imports exceeded exports by over $13.611 Billion, while our net reserves stood at $ 12.,816 Billion. In the same year Bangladesh's imports exceeded its exports by a mere $4.365 Billion, while countries like Malaysia had exports exceeding imports by $39.583 Billion. Malaysia's total foreign exchange reserves stood at $82.194 Biilion in 2006 as compared to India with reserves at $176.105 Billion and export surplus of $9.833 Billion. We need to learn from these nations. -MALIK TARIQ ALI, Lahore, November 21.