THIS refers to the editorial ‘PTI’s performance’ (Aug 29). Many years ago, Ayub Khan celebrated the infamous ‘Decade of Development’ apparently on the advice of the sycophants surrounding him. In less than a year, he had to quit power as he failed to read the pulse of the nation. The government’s celebration of three years of its rule is premature and ill-advised, and one hopes history does not repeat itself.

On the economic front, the situation is scary. With underperforming agriculture, the nation has become a big food-importing country. Also being imported is cotton, which at one time was a prized cash crop that earned millions of dollars in exports.

The industrial sector continues to struggle as most of the units that exist are assembling and packaging plants with little value addition. The surge in the sales of cars is not a barometer of improved economy, rather indicative of increasing divide between the haves and have-nots.

Pakistan remains dependent on imports for most of its finished goods, raw material and the capital goods. Exports cover less than 50 per cent of the imports, resulting in a massive trade gap. The rise in the import bill means a persistent current account deficit which is not good for the economy, and the weakening rupee has its own negative impact. With things being what they are, there is little point talking about the state of the social sector.

One hopes that sanity would soon prevail, and, instead of ‘celebrating’, the economic team would get down to doing what needs to be done.

Arif Majeed
Karachi

Published in Dawn, October 10th, 2021