At the end of Wednesday’s round of the Pakistani rupee’s continuous gain against the greenback, the dollar traded hands below Rs 280 in the interbank. Far more reassuring seems the open market following suit amid a dwindling appeal of dabbling in foreign currency. A lot of this newly-minted stability has to do with the iron-clad regulations imposed by the caretaker government on the currency market. Local laws are becoming stronger with each passing day as the strict crackdown is in place and the authorities are unwilling to let any unaccounted outflows slide. However, the fact that the picture is rosy right now calls for even greater speculations regarding when and how the other shoe would drop. Economist after economist has argued that this “record gain” cannot be sustained for long. The minute those flashing the baton lose grip, we would be back to the grim days of the proverbial dark tunnel that seemed to have no ending whatsoever. The debate about the IMF’s unwillingness to look past any overvaluation is raging just as hard while trading communities have begun raising clarion calls for the survival of exporters. Notwithstanding the nature of this golden inning, the fragile rupee’s strong momentum towards recovery does raise a long list of discomforting questions pertaining to the performance of elected governments. If an interim setup whose sole mandate (other than holding elections) is to ensure a smoothing running of day-to-day affairs can sort out its priorities and stomach undue pressures to stand tall, why can’t those who come to the conclave of power after winning over the public consider taking actions that actually matter? One sound way to nip the proverbial storms in the bud could be to investigate the sources of funding for election campaigns. Transparency and accountability might, after all, hold the key to ensuring that the political elite remains attached to the bigger picture rather than the nefarious agendas of the few. *