On Record

Southasia - - MALÉ - Sha­hab-e-Saqib, Is­lam­abad, Pak­istan.

The new govern­ment in Pak­istan has a num­ber of chal­lenges to deal with. The most press­ing is­sue re­lates to the eco­nomic over­haul­ing of an al­most bank­rupt coun­try that can­not move an inch with­out re­sort­ing to the World Bank or the In­ter­na­tional Mone­tary Fund (IMF). The newly-elected govern­ment should re­alise the fact that long-term eco­nomic de­vel­op­ment can never be achieved with­out bring­ing in the much-needed po­lit­i­cal sta­bil­ity. In place of makeshift ar­range­ments, the coun­try needs a com­pre­hen­sive strat­egy to cater to its fi­nan­cial needs and that too with­out look­ing to­wards the IMF, which seems un­likely in the cur­rent sce­nario. Time is run­ning out and Pak­istan needs to take some dras­tic mea­sures to avoid eco­nomic fail­ure, a daunt­ing task that re­quires politi­cians, tech­nocrats and the es­tab­lish­ment to sort out their dif­fer­ence and work to­gether.

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