Daily Times

Because our dirty linen continues to be washed before the public eye every other day, there remains no need for one to read the tea leaves in order to gather how perilously close we are to the cliff’s edge. But just to send the envelope flying across the table, the dark clouds hovering over the auto sector have confirmed an unbelievable drop of 73 per cent in overall sales. While the aura of reluctance does not require any afterthought considering the skyrocketing petrol prices; high-interest rates–making leasing almost impossible for the common man–and a general feeling of uncertainty in the market, a depressed demand would mean another series of dealership closures and plant shutdowns. As of last month, a diminished consumer footfall had led to a loss of at least 250,000 direct and indirect jobs in the industry.

The data sigh just as sombrely about other sectors. Joblessness remains the order of the day as nearly each and every business (from large-scale manufacturing to services) is exasperated by the constant struggle to pinch pennies. In the name of making ends meet, countless Pakistanis are being pushed on the streets to fight a war against unprecedented inflation. Those who were supposed to be their messiah are, sadly, too overwhelmed by the Machiavellian politicking to be bothered by the bloodied battle to put bread on the table. From the looks of sheer callousness, one of these days, someone in the ruling camp might stand up and wonder why are the 225 million Pakistanis not eating cake.

If not for the well-being of the masses, rife speculations about failure to secure funding from the IMF making “a state of moratorium look unavoidable,” should have been enough of a jolt for Islamabad. Soon to complete its first year in power, the coalition government has been nothing but a rudderless affair; failing to water down a single fire among the million raging across its kitchen. The financial czar, who was supposed to magically pull dollars out of his hat, has not tired himself of the endless blame games. The much-celebrated administrator-in-chief has yet to leave a lasting impression other than attracting a few eye-rolls over the largest cabinet in the country’s history. When the situation demanded a “Yes, We Can” attitude, the PDM government made it a habit to shift its weight from one foot to another; its fleeting glances sheepishly admitting that it is too late in the game. How this obsession with kicking the can further down the road would help us keep our heads over water, only time will tell. But speaking about today, the straits could not get any direr (yet they definitely will)! *