Sir, the impact of economic policies is not instantaneous. It only shows up only with slow and variable lags. The economic results seen today are the results of the last several years' policies. Just like the PTI govt inherited problems from previous government, so did PDM. Everyone who has been in power is to blame for the state of the economy. The only argument can be about the extent of the blame.Historically speaking, most of those decisions that have tied Pakistan to foreign powers, were made by the establishment. Each era, resulting in even more long-term damage than the previous.
While Khan was not able to deliver on all promises, economic conditions had stabilized and improved. The end of his term saw Pakistan's highest exports and remittances, the exact duo needed to pull Pakistan out of its balance of payments crisis.
The factories that had shut down due to PMLN overvalued currency policies, were now open but struggling to find workers. More factories were being constructed, so exports were expected to drastically increase when online.
Then came back PMLN and their obsession with artificially overvalued PKR. They used the foreign exchange reserves to subsidize the PKR, making imports cheaper and exports less competitive. So at least a billion dollars was wasted into thin air for no reason. When the reserves started dropping dangerously low, they restricted imports including raw material, so factories already struggling with decreased demand for overvalued exports, had to shut down again.
Now the country's exports and remittances dropped $7 billion, more than what it's getting from the IMF. You can see the irony here? The establishment scored its own goal. To improve relations with foreign powers, they nuked their own economy.
The only alternative to the IMF programme was default, which would have been catastrophic . Both Imran and Shahbaz tried to delay the IMF agreement for political expediency, though Shahbaz was more amenable to establishment danda. If the PTI government had signed the deal in time, the economy would have been in a better place today, though IK would have been less popular.