This refers to the letter ‘Cold facts’ (December 28, 2022) by Dr Najeeb A Khan. The letter condemns the PTI’s performance during their tenure in power, but is lacking essential context. Though it is fair to argue that the PTI should have done better, it is also true that they achieved a growth rate of six per cent, rising tax collections and record exports and remittances. No doubt, there were certain areas of poor decision making. The privatization process remained stalled and the current account deficit widened. However, the latter was due to matters beyond the then government’s control, mainly the Russia-Ukraine war and the subsequent surge in global commodity prices.
On the other hand, Pakistan today is facing, arguably, the worst economic crisis in its history. All key economic indicators have turned negative and there is a genuine fear of default. The economy has deteriorated to such an extent that, even if the government returns to the IMF programme, the relief would be very temporary.
Arif Majeed
Karachi
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