Despite advice from PML(N) Vice President Maryam Nawaz to say goodbye to the government rather than bury the public under more inflation, Prime Minister Shehbaz Sharif expressed determination to take difficult decisions. Addressing a press conference on Thursday Power Minister Khurram Dastgir supported taking tough decisions on energy and fuel prices now instead of facing tougher choices six months later. Earlier Finance Minister Miftah Ismail had said government was not increasing petrol prices “for now”, but these could be “adjusted anytime in the future” keeping in view international prices.
The government’s economic team is already holding talks with the IMF in Qatar. Meanwhile the PML(N)- led alliance has taken the first step to cut down the exorbitant import bill by slapping a ban on the import of nearly 800 items in 33 categories, including food products.
The removal of subsidies is being delayed as a bargaining chip to seek the extension of the government’s tenure for 15 months avowedly to implement pro-people policies to offset the brutal impact of the withdrawal of oil subsidies. But this is causing a big loss to the economy. Fuel subsidies will cost the government Rs 75 billion over a fortnight from May14-May 27.
What one sees happening is a battle of nerves. PTI chief Imran Khan is in haste because he is not sure if he would be able to maintain the momentum created by his rallies for long. He wants the government to leave immediately and elections be held in the next three months.
The ECP has made it known that the constitutional and legal requirements that need to be fulfilled do not allow snap elections as desired by Imran Khan. PM Shehbaz Sharif’s interaction with the Karachi business community on Friday indicates he is determined to turn round the economy instead of resigning. He was optimistic that his plans would bring the economy back on track. He expressed the hope that the country will flourish once people unite. Addressing the business community he expressed the resolve to move forward with everyone by his side.
