The twists in Pakistani politics are far more profound than a Spanish telenovela, but there’s no use crying over spilt milk. The ruling party’s financial wizard is back to pick the reins, quite interesting on the same note he had left some five years ago. Since he did not mince any words when calling the Pakistani rupee “undervalued,” the focus, as before, would not shift anywhere other than the currency affairs. Reading the tea leaves, the market has instantaneously reciprocated to the switching of the captain, and the rupee has gained for a phenomenal sixth straight session. However, as our battered industries and bruised prospects of FDI have not miraculously been turned right, the fallacious modus de operandi is bound to stay the same. Amid news of State Bank’s forex reserves losing an unbelievable $340 million in just one week, Mr Dar’s obsession with a strong currency becomes a matter of great concern. While the winning streak against the greenback has managed to repair market confidence and bring at least a little solace to local importers, a strengthened import-based economy, especially when it sends out little to nothing in return, is a recipe for an utter breakdown. Furthermore, the international clamour to suspend debt repayments on the account of catastrophic floods would most likely turn down a notch (if not die down altogether) when the creditors put two and two together and realise the money due to them is being used to create false impressions. A debilitating impact on the export potential and an excruciating blow to the current account, pumping dollars into the market would only turbocharge our economic freefall. The Daronomics may have returned to appease the elders, but the czar better realise the difference between oiling the wheels of a functioning country and stroking the ego of a middle-class household fixated with material impressions. It might have been one thing to sit thousands of miles away and orchestrate a seething campaign against the then overseer on lofty slogans but sitting on the hot seat and trying to juggle the optics with holes in the sinking ship is no walk in the park. *