THE last two years has remained very difficult for the present government to cope with economic challenges and the breakout of Covid-19 earlier this year only complicated those problems. However, since the pandemic situation is improving now, there is also optimism that the situation is heading towards improvement now.
The cabinet at its meeting chaired by Prime Minister on Tuesday held threadbare discussions on the economic situation and expressed satisfaction over the economic indicators including reduction in current account deficit as well as the foreign exchange reserves. It really goes to the credit of Prime Minister Imran Khan that despite severe domestic criticism, he stuck to his policy of smart lockdown in order to secure both lives and livelihoods. And now the country has gradually been reopened after reduction in pandemic cases. Though the threat is not over and the authorities concerned need to remain alert on that front but resumption of economic activity is imperative to take forward the country and provide relief to the masses whose purchasing power has reduced significantly due to price hike of essential commodities especially the sugar and wheat flour. All this also has badly undermined the image of PTI in the masses. Hence, the government needs to do a couple of things. Firstly, it should start executing Ravi city like mega projects at the earliest as these will help generate immense job opportunities as well as provide the much needed succour to the industries allied with the construction. Secondly, the focus should remain on extending full support to both the agriculture and industrial sectors in order to enhance exports as coupled with enhancing tax collection is the only course the country can address its economic woes. Then most importantly, the federal government in cooperation with the provinces should come up with a mechanism to check the prices of essential commodities. Time has come to go beyond rhetoric and lip service and initiate strict action against the mafias robbing the pockets of poor consumers.
Improving economic situation
