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The unprecedented hikes in interest rates, devaluation and ongoing additional surcharges have unleashed a spike in inflation that has severely eroded the purchasing power of the people, and led to the loss of employment opportunities. The dream of generating millions of jobs transitioned into a reality of rampant job losses.
Unnecessary controversies and legal issues have been created and the government has become embroiled in judicial battles, which could have been easily avoided. The much-criticized Circular Debt has raised its ugly head yet again and at Rs.1.69 Trillion is posing a considerable threat
Pakistan has had its share of issues but it is coping with them. The judiciary raised several questions concerning the extension given the Chief of Army Staff while considering a petition. There were never two thoughts on the reappointment for another tenure. The Court wanted the matter properly regulated through legislation that would decide modalities, remuneration, tenure, extension and reappointment. The Government is busy trying to do what the Court has ordered it to do. It is an uphill task because of the political environment and the acrimony that surfaces in Parliamentary discussions. The end result should clarify the whole issue once for all.
The most accepted line of thought is that there is a government and supporting it is the country’s most powerful institution and together they are tackling the issues facing the country and managing the multiple issues that are raising their heads. So far this management has managed to avert a major crisis and is in fact putting the country on the road to stability
Today, the informal economy remains hidden and out of circulation. Neither the state nor the people are benefiting from it. There has to be a long term plan to allow all this informal economy to be integrated back into the formal economy without penalizing those who possess it