Hyderabad: 3 July 2023: Pakistan received Bailout in the nick of time. The country is going through its worst economic crisis.
Pakistan got $3 Billion dollars. Whereas in the recent flood Pakistan lost $30 Billion dollars. Pakistan
Barely had the money to cover 1 month of imports. Debt payments were due. Pakistan had to pay $25 billion this year alone.
The IMF bailout is a breather. Throughout history Pakistan got 23 bailout in its 75 year history, highest in all around the world. They come with the experience of managing a 75 year old begging bowl. Follow a predictable pattern.
While commenting, the Former World Bank advisor Abid Hassan said: Over the half decade of IMF assistance didn’t bring a tangible reform, it was more of a band aid. Band aids are not a cure, they just stop bleeding for a while.
Inflation rose to 38 percent, record high. Those who hold the power keep looting the economy, keep looting the people. Pakistan disease is political, so the same group of people ask the international community to pay the bill.
Even the current bailout won’t solve the issue. The days of government are numbered, IK is waiting for the election.
There is chaos in one of the powerful departments too, three top officers sent back to home in discipline and were accused of not doing enough. They were not doing enough to secure military offices.
There is chaos at the border, a security check post was attacked in northwest Pakistan, 3 soldiers died, and TTP was behind it. The Taliban regime in Afghanistan gave shelter to them and supported them to carry out the attack.
Volatility at border
Pakistan committed to reform the plan, they have to, but the question is will Pakistan walk the talk? The record is not inspiring. They may have got the bailout. But that is not the guarantee of anything, the situation and rusted policies are still the same, and that will drag the poor Nation again towards the IMF.