Daily Times

Rupee slashed to a record Rs 288.5 against the greenback; international bonds crashing to deeply distressed levels and Moody’s forecast of an imminent defaulting case the IMF bailout does not materialise, Pakistan’s precarious economic situation continues to be hit by flamed arrows from all directions.

Yet, no respite is in sight and the executive is fast running out of excuses to make light of its own shortcomings. At the most critical juncture in the history of the country, the prime minister cannot be found anywhere while the leading political parties are all busy furthering their agendas at the expense of the country. How long can these dismal affairs continue?

Clearly, the treasury is in no shape to stomach a seemingly endless series of crunches and the same is the condition of the masses. As inflation soars higher and higher (said to be surpassing the much-talked-about Sri Lankan debacle) and little to no relief can be read on the cards, it is only a matter of time before anarchy spreads further. The number of people being pushed down the poverty line is increasing by the day, and millions struggle to put food on the table.

The so-called middle case has been hit the worst as they contemplate which needs to prioritise out of their shoestring budget against one of the worst economic crises. People, who used to be pretty comfortable a year ago, have been exasperated by the deepening cost-of-living predicament.

With many forced to take up multiple jobs while their government struggles to keep the economy afloat, the desperation to water down fires rages on. An ideal state would have proactively worked upon a mix of micro and macro policies that reduced poverty and maximised revenue in the same breath.

To our great misfortune, so dire are our straits that all measures to fix the economy or offer relief to the masses are falling flat on their faces. Desperate times call for desperate measures. Perhaps, once the immediate lifeline is back on the table, the ruling elite could finally begin to think outside the box. At the end of the day, divine providence cannot be held responsible for the prosperity of Pakistan without us mortals putting in our share of the hard work. *