Is that faint flicker the oft-promised light at the end of the tunnel? At least, the Pakistan Bureau of Statistics believes so. That the country finally set eyes on a historic low inflation reading after months and months (of bloodbath (which had risen to 38 per cent at one point last year) should have been excellent news for the hardship-stricken masses, something that called for a field day. With food supplies increasing, fuel costs returning to normal levels and stability in the currency market, the headline inflation has improved beyond the government’s expectations. Of course, given our tryst with hard luck, one may be forced to wonder whether these numbers truly indicate a significant improvement, or are they merely a temporary reprieve amidst a larger economic crisis. As Pakistanis continue to grapple with the harsh realities of rising prices and shrinking purchasing power, there have been some positive indicators that suggest a ray of hope on the horizon. Prime Minister Shehbaz Sharif’s upcoming China visit is believed to be a strategic move to strengthen economic ties and attract much-needed investment to boost the country’s faltering economy. However, as is evidenced by the suggested ambitious GDP growth target, there’s a lot that needs to be done to ensure the government stays firm in its commitment to steer the country towards sustainable development. But while state institutions like the FBR, with their surpassing of revenue targets, come as signs of its determination to establish fiscal management, a healthy, resilient economy cannot rely solely on taxation to generate revenue. It can only be hoped that the international linkages this government takes great pride in will ultimately pay off in the form of increased investments. Pakistan’s desperation to diversify our earnings to sustain the debt trap looms large, especially when experts warn that the promising outlook is highly susceptible to risks from all directions. The sentiment on the street may be positive for now, but it only takes one bad cycle in the currency market to wipe off these hard-earned satisfaction indicators. Challenges are bound to grow ever more daunting. *