It has been three weeks since the economic miracle man landed in Islamabad amid prayers for the USD to hit the 100-rupee mark again. But sadly, good times are nowhere close to rolling. While the upward momentum against a basket of currencies continues, in line with Finance Minister Ishaq Dar’s reputation, the situation on the ground remains just as dire. This acknowledgement of the desperate times has likely toned down his rather aggressive posturing ever since his return from Washington. Emphatic pledges of a “befitting response” promised to Moody’s downgraded ratings stand poles apart from the World Bank’s call for internal measures for economic recovery. In the meantime, another global rating agency Fitch is the latest to cut Pakistan’s credit rating, citing external liquidity challenges and a drop in foreign exchange reserves. Since the treasury well is completely dried, conditions are not as favourable for Mr Dar to prop up the currency, going against the tide as in his previous stints. It would cost an arm and leg for him to complete the daunting task assigned by his party leadership: bring back the political capital. That the interventionist policies are neither sustainable nor affordable echoes in all corners, but a magician would do what a magician does. More distressingly for the PML(N), the international market is no longer interested in supporting Pakistan, which is fast running out of options to put on the table. Default prospects continue to inch lower with every passing day because unless the pledges materialise, empty words cannot offer any salvation to empty coffers. If lenders like the IMF arm-twist Mr Dar into removing the much-touted tax exemptions and power subsidies, who from the party would jump in front of cameras and remind him about the need to “have a heart?” How on earth would he manage to juggle clarion calls of do-more with the noble crusade to lift 220 million out of abject misery? *