The former banker signalled the continuation of the $3 billion Stand-by Arrangement’s IMF-mandated stabilisation policies, stating that Pakistan, a nuclear-armed sovereign state, could no longer afford to continue treating its long-standing economic problems with a “patchwork” solution if it wanted to address the issue of low economic growth and inflation. The finance minister’s message was crystal clear: growth will be sacrificed in order to achieve the government’s goal of long-term macroeconomic stabilisation. Additionally, his strategy differs significantly from the PML-N’s well-known financial and economic ideas. Will he have sufficient space to carry out the stabilising measures for as long as they are needed? However, managing the aspirations and expectations of the ruling party without straying from the reform route will be crucial to the finance minister’s stabilisation agenda’s success.

Source: The Patriot March 15, 2024 08:10 UTC