THIS is with reference to the article ‘Failure of economic governance’ (Jan 16) which made me wonder how a country can be sovereign if its economic fate depends on decisions made by other countries and financial institutions.

One who pays the piper calls the tune, right?

It may sound harsh, but does Pakistan’s foreign policy drive the fiscal policy of the country as well?

For an ordinary citizen like me, it is scary to comprehend the thought that other countries and entities will either rescue Pakistan from an impending economic doom, or I will lose all my savings that I have accumulated penny after penny for my fairytale wedding.

I personally believe that if the economic managers of Pakistan continue to implement the same dysfunctional policies that have been prevalent in the country for decades, things are not going to change for the better.

Years down the line, people will still be quoting Meekal Ahmed, the late economist who about two decades ago had blamed “poor management of public finances and deep-seated unresolved structural issues in the economy” for Pakistan’s economic woes.

We surely did not learn, and we are surely not learning today, but the question is, will we ever learn? Or will it be others learning from our lessons?

Faryal Pirzada
Karachi

Published in Dawn, February 4th, 2023