Reza Baqir says next year’s external financing needs are fully secured, which is reassuring, but there are years after that too.
The fact is that the same numbers the govt was touting a few months ago are today painting a changing picture.
The situation is precarious, even though there are glimmers of hope shining through the cracks in some places.
Split between who owns executive powers and who exercises them means there is weak ownership over outcomes.
Ultimately the budget, and its aim to pump growth, will be left standing on two legs only — free oil and free dollars from abroad.
Budget for FY22 faces massive risks such as inflation and a resurgence of the trade deficit.
With the breadth of tax and duty cuts given to industry, the IMF will want to know how they intend to pay for all of this.
The prime minister is under extreme pressure to pump growth further next year, as well as enhance spending.
Against all odds, Pakistan’s economy is growing, but not everyone is seeing it. Are only the rich benefitting?
The first lesson is to never — ever — buy a growth story that is unaccompanied by reforms.
The needle seems to have moved, even if slightly, on the matter of the Pak-US relationship.
If there is an indicator that matters to ordinary people it is real wages.
Why is a thing more real when you can touch, taste or feel it as opposed to something that is only experienced?
The electorate knows better than to swallow the government’s rhetoric.
It staggers the imagination to consider the scale of the muddling through we are seeing at the top as this crisis escalates.
Tarin will have to succeed in order to cement his position within the cabinet.
It seems that Imran Khan is feeling the pain of the adjustment that he has had to undertake.
How things go with the IMF are critical to how the political scene will evolve.
The Americans call this ‘muddling through’, a situation when those in charge don’t know what they are doing.
It is a principle of sovereign lending that those prerogatives a ruler cannot manage are eventually taken out of the ruler’s.