IK may have the right intention but he is being taken for a ride left, right and centre, and I highly doubt he understands the complex financial markets no matter how intelligent and sincere he is. "Stabilization" of rupee is a double edged sword. Anyways, here are the links you can go through and update yourself.
https://defence.pk/pdf/threads/ten-million-jobs-or-hot-money.650304/#post-12031791
https://defence.pk/pdf/threads/the-burn-of-hot-money.649660/page-2#post-12024914
Bhai this is the irony, of the all the rulers in my life time I know only about Benazir who was fond of reading, she would go through all English newspapers during breakfast. If she found anything interesting she would instruct her secretarial staff to cut it and file it in a special file she always kept with her. All columns where her Govt, its performance, its ministers were referred urdu or English she used to read it during her travelling and free time. Urdu columns were translated for her.
Met her, at her request as a private banker in 2005, she was one sharp and savy lady, unfortunate for her marriage and subsequent troubles ending her life eventually.
IK is no exception he doesn't read, he doesn't keep himself updated with current affairs, he has surrounded himself with cronies who do not have his best interest at heart and he is learning hard lessons about this (through wheat and sugar crisis), he himself is not a bad guy I know for sure he does want to improve the lives of masses. Unfortunately as much I want to give him handicap I cannot deny this is the team he chose himself he should have been a better judge of character. His performance in the international arena is being dragged down due to poor show in the domestic circuit.
I already mentioned somewhere it is a sad thing to see we have always been bestowed with covert/overt agents of IMF and international donors. They are so brainwashed by their master that they fail to understand this pet formula of increasing interest rate/decreasing imports/ reduction in defense and PSDP/ abolish all subsidies/increase price of utilities like gas/water and electricity/massive devaluation of currency might be an excellent recipe for countries with large industrial base, but for countries with small industrial output it is a recipe for disaster. This formula has always failed for developing (read under developed) countries.
It is always a domino effect devalue currency massively, OK it was high time but imports will become expensive OK so far, essential imports like raw materiel will expensive, medicine will get expensive; fuel will get expensive so what since no subsidy pass on the price, transportation will become expensive, pass on the price to the end user in every case.
Increase the interest rate, cost of doing business increases for small borrowers who borrow between 1 - 5 million called as SME, our major business is focused around SME; bank lend at 3MK+3-6% which comes around between 16.5%-19.5% and earning this much profit from an SME well the businessman will only be paying interest, what is does is either settle the credit line or default. Purchases only essential items and passes on the price to the end user.
Increasing utilities cost, already higher due to import dependence, coupled with increased transportation costs, remember all these utility companies are heavily leveraged mean they have massive borrowing from the banks, when the price is passed on to the end user the price increases beyond paying capacity no winder poor start committing suicide and business start going out of operation and circular debt soaring to almost 2 trillion rupees.
Govt is the largest economic powerhouse and economic activity generation machine cut in PSDP no job creation, no off take of cement, steel, allied industries, No economic activity by the largest player hell no tax collection.
Then people wonder why the inflation is increasing, these IMF agents play innocent as to why inflation is increasing, for them its just a number.
I have just tried to correlate few results of the decisions taken by these IMF agents.
Speak with any economist despite increasing the tax base, despite increasing the petroleum levy many times the tax collection is low and getting lower in way that it will miss the annual targets by almost 20%. In modern economy its a complex equation if you increase the variables at one side of the equation the variables on the other side don't just automatically adjust to balance the equation.
Many complex calculations are required, many probability theories need to evaluated before coming to the final result with risk managed in the optimum way, that is how we financial planners work why should it be any different for economic managers of the country.
The day IK decides to start giving relief to the masses like reduction in utilities and petrol prices they will first delay the action as much as they could drag but when IK will finally put his foot down they will either distance themselves from IK and even resign just so that their masters don't get angry with them.
If we are to ever get out of this mess we need to understand as a nation that paying tax is our national responsibility, and we need to develop a home grown solution to revive and develop the economy. Not this hot money crap/trap.