Naveed Miraj
Given the current liquidity crunch, where the foreign exchange reserves are not enough to meet imports of three weeks, completing the ninth review with the International Monetary Fund (IMF) has become a necessity as this will not only ensure disbursement of 1.2 billion dollars from the international lender but also unlock inflows from other multilateral lenders as well as friendly countries.
In this context, the arrival of the IMF team which held negotiations with Finance Minister Ishaq Dar in Islamabad on Tuesday, will be a matter of satisfaction for the government, but on the other hand, the people are also genuinely worried as they fully realize that the axe will fall on them to secure the deal.
Already the people have seen its first episode in the form of the removal of the unofficial cap on the exchange rate which resulted in massive depreciation of the rupee as well as thirty five rupees increase in prices of petroleum products.
Whilst these two measures will further push up the inflation rate already hovering around twenty five percent, the government is envisaging about thirty percent increase in electricity and about sixty to seventy percent raise in the gas tariff to meet the requirements of the IMF, which definitely will give sleepless nights to those already struggling hard to make both ends meet.
It won’t be wrong to say that the situation is not far when the bread earners will start committing suicide for failing to feed their families and dependents.
It is really unfortunate that the IMF deal is always struck at the expense of the public but those sitting at the helm of affairs stay save from its adverse impact as they continue to enjoy their perks and privileges.
Instead of looking inwards, those sitting in the government always look at ways to suck any remaining blood of the public. The country has not reached this stage because of the general public but the flawed policies of the successive governments but it is regrettable that the people are paying the price for it.
The apathy of the government can be gauged from the fact that the incumbent government comprises of over seventy cabinet members and many of them are those who have not been allotted any portfolio, implying there are no ministries or departments left that can be entrusted to them but this appeasement policy is playing havoc with the lives of common man.
The people are justified to ask both from Prime Minister Shehbaz Sharif and Finance Minister Ishaq Dar whether they will also cut the size of the cabinet and reduce their other unnecessary expenditures in current situation. If this does not happen this time around and the whole burden was shifted on the people, then it will amount to taking the country towards total chaos and anarchy.
Better sense must prevail and by practically demonstrating austerity and employing cut on their expenditures, the government must transmit a positive message to the public to soothe their nerves.
Then most importantly, the government must also present a roadmap to stop the begging bowl from further ballooning and to take the country on the path which is the hallmark of an honorable and dignified nation. The very roadmap can only be implemented by rising above power politics and ensuring political stability in the country.
