FOLLOWING a concerted drive by the authorities against currency mani-pulators, smugglers and hoarders, some semblance of sanity stands restored in the exchange rate volatility, and the rising price of sugar as there has been a downward trend on both counts.

The current crackdown, however, is not something new or unprecedented. The governments in the past ordered similar crackdowns as short-term publicity stunts. There have been instances when a large number of bureaucrats were sacked for supposedly having a bad reputation, but corruption, smuggling and black marketing have only grown exponentially.

One is, therefore, sceptical that the present crackdown will be a permanent feature to get rid of the activities that damage the economy. However, on a bit more optimistic note, we can wait and see if we can have a permanent solution to smuggling, hoarding and profiteering.

Arif Majeed
Karachi

Published in Dawn, October 21st, 2023