Categories: CommentEditor's Mail

It’s the economy, Stupid

For the last six months, some economic experts (not part of the present set-up) are crying hoax regarding the looming economic crisis we are facing. Our balance of trade seems to be eating up around 1 billion USD every month. The State Bank Reserves are fast depleting, which are currently a little over 12 billion.  It appears that ruthless borrowing from IMF, etc. is letting us down.

There is a fear that the coming IMF loan instalment in March 2018 of USD 11.3 billion may (God forbid) be an extremely difficult one to pay!

I thing that we are importing much more than our exports; hence extreme pressure on our Current account. I hope Pakistan’s financial wizards, including Mr. Dar should take the Nation into confidence and take extreme measures to get out of this economic rut.

We should cut down upon all unnecessary imports, make a policy giving incentives for exports and to those sending remittances from abroad. We may also consider putting a levy on all imports, POL, etc. for the next six months, so as to generate revenues. The Got should also freeze all spending on Mega projects, like Orange Trains/metros, frequent foreign travels by Got dignitaries, etc. so as to save needed money.



Editor's Mail

You can send your Editor's Mail at:

Disqus Comments Loading...
Published by
Editor's Mail

Recent Posts

Overseas ministry to be revamped to serve Pakistanis, investors: PM

JEDDAH: Prime Minster Imran Khan on Wednesday said that the overseas ministry would be revamped in such a way that…

31 mins ago

52pc Pakistanis believe Imran’s tenure will be better: survey

A survey conducted by a research foundation indicated that people have more confidence in the Pakistan Tehreek-e-Insaf-led coalition government as…

34 mins ago

PM, Dr Youssef discuss challenges faced by Muslim Ummah

JEDDAH: Secretary General of the Organisation of Islamic Cooperation (OIC), Dr Youssef bin Ahmad Al-Othaimeen Wednesday called on Prime Minister Imran…

36 mins ago

Reduction in terror attacks but global threat more ‘complex’: report

WASHINGTON: The near-defeat of the Islamic State in Iraq and Syria has forced a dispersal of the group that has…

44 mins ago

Indian troops thrash photojournalist in Srinagar

SRINAGAR: Indian troops thrashed a photojournalist in Srinagar, while he was performing his professional duties, according to the Kashmir Media Service…

1 hour ago

PM Khan reaches UAE, discusses economic cooperation

ABU DHABI: Prime Minister Imran Khan reached Abu Dhabi on Wednesday night on an official visit to the United Arab…

2 hours ago