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Economy & common sense

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23.05.2019

THE deed is done. After months of wrangling over matters hidden from public view, an IMF bailout package has been secured. Now a debate is going on among the learned economists about whether the tribulations of the citizens can be blamed on the IMF. The people are yet to be told of the extent of the benefit the IMF deal will bring.

Alright, the IMF should not be blamed for the devaluation of the rupee, nor for the imminent increase in utility charges. Saying that this is the result of the ruinous policies of our past rulers should also be reconsidered. But two points need to be cleared.

First, it is wrong to demonise only the two political parties that were in power from 1988 to 2018.They did contribute to the mess, but the regimes of generals Ziaul Haq and Musharraf caused greater harm to the economy (and politics) than the much-maligned political parties. In any case, it is time the government stopped raining abuse on its political opponents and sought public backing on the strength of its achievements.

Second, if going to the IMF was a totally harmless matter, why did the government look for an alternative and delay its mercy petition to the Fund? Even if the IMF is imposing harsh conditions in the interest of institutions that are expected to lend money to Pakistan, the ordinary people will have difficulty in deleting the names of signatories to the deal from the agents of their torment.

It is the duty of the government to overcome the economic crisis in the shortest possible time.

The citizens........

© Dawn