No better news for the people of Pakistan at this moment than the PM’s historic “relief package;” cutting petrol and electricity prices despite the international commodity rush even if it may hurt reserves. But however welcome as this pleasant surprise may be, it could all turn very sour very quickly if it turns out that the package was floated in a hurry and cannot really be backed by fundamentals, especially if the IMF bailout program is to be kept for its entire duration. After all, the government very recently learned the hard way that its expansionary plans had no place in policy so long as the Extended Fund Facility (EFF) was in effect, which is why it had to literally roll back the subsidy-laden budget inside two quarters. That’s how the PM and all his aides tried to sell the austerity that came with the so-called mini-budget: that all this was essential to keep the aid money flowing. Yet to turn course, so sharply and so quickly, means that either the Fund has changed its position completely or the government has decided to ditch the whole program in return for populist measures, which will at least keep it alive to fight another election. But since there’s really no chance of the country being able to withdraw from IMF funding, or it wouldn’t have made so many sacrifices for it, there could well be more to the package than meets the eye. The opposition is claiming, with some justification, that the pressure from its long marches and the sword of the no-confidence motion hanging over the PM’s head is really to thank for this so-called package. For, there was really no question of the government posturing this way till those threats began to gain momentum. And some in the opposition camp are going so far as to claim that this was an outright acceptance of the fact that the government is on its last legs and needs something desperate to keep the people on its side. And also that PM Imran Khan is now preparing to play the political martyr by lacing policy with people-friendly but unworkable ideas just before his time runs out. It’s still too soon to tell which of these theories is correct, of course, or even how the IMF is going to react, but the people might as well enjoy the concessions while they last. Because they will ultimately have to be rolled back; at the next budget if not before it. *