Everyone is incompetent in Pakistan. There are no exceptions. Capital/investments fly or dry out when a nation is on the brink of default which Pakistan is nowadays (hence, the slump in RDA). PTI was en route imposing hikes under the head of GST each month other than allowing adjustment of fuel prices per their commitment to IMF after the program was to get reactivated. It was only when the political climate heated up (and departure looked imminent at the back of establishment indifference to his pleas for assistance) that Khan g realized it was time to break the bank so as to leave any new incumbents with landmines. Those cost the country 125 billion PKR on a monthly basis. Obviously, you had to run a huge fiscal deficit (and then finance that deficit by debt accumulation, for existing debt servicing, etc.).
The "growth" came at the back of the 4.3 trillion PKR deficit budget. All this while lip service was paid to the sustainability of the growth. We are seeing how sustainable the bubble is now. What could one have hoped for considering the pathetic pace of developing and operationalizing SEZs throughout the PTI govt. The national productive capacity did not increase by a quantum where it could have substituted for imports in a meaningful manner and created exportable surpluses that were large enough to moderate the CAD that perpetually haunts any growth spurt in Pakistan (ultimately draining it and leaving behind a painful period of stagflation).
tribune.com.pk
