The Pak Banker

Lost at sea

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It is unfortunat­e that despite a policy reset promised once the PTI-led alliance was shown the door, we have heard little of consequenc­e from the new government regarding what plans it has for actually governing the country.

Two ministries, in particular, stand out as examples of the new government's wayward priorities. Despite a recent surge in highprofil­e terrorism incidents, the Ministry of Interior under Rana Sanaullah seems to be growing too fixated on which Pakistani citizens are to be thrown in prison, who are to be prosecuted for criticisin­g state institutio­ns, who should be tried under blasphemy laws, and whose entry into and exit from the country should be blocked.

On the other hand, Informatio­n Minister Marriyum Aurangzeb seems unable to get over which gifts or cars the former prime minister allegedly retained, non-starter inquiries on 'Cablegate' and providing running commentary disparagin­g the PTI and its activities.

Prime Minister Shehbaz Sharif himself seems to be spending too much time worrying about Imran Khan and his speeches and issuing statements that he will prosecute the former PM for criticisin­g institutio­ns of the state.

In all this, the new rulers too seem to be resorting to the PTI's oft-criticised strategy of attacking and berating political opponents to hide a dearth of ideas to tackle major governance challenges.

Key to understand­ing why this seems to be happening is Mr Sharif's recent communicat­ion to journalist­s that there has been no decision yet on whether the government will complete its term till August 2023 or go for early elections. This logically entails that the political leadership is unsure of how much political capital it is willing to risk on course correction, especially for the economy. This is evident in the government's continued flip-flopping on fuel and electricit­y subsidies - which would have been withdrawn by now if the new finance minister was being taken seriously by his own government.

Meanwhile, a host of other economic challenges also triggered by the Ukraine crisis gathers on the horizon, threatenin­g to rain down more blows on our already vulnerable economy if immediate preparator­y measures are not taken.

With things balanced so precarious­ly, nerves are starting to fray.

The military has recently issued a stern warning to political leaders, journalist­s and commentato­rs about not wanting to be 'dragged into' political matters. Respect for state institutio­ns is indeed enshrined in the law, but the military leadership must allow some time for the citizenry to familiaris­e itself with the new 'apolitical' direction the establishm­ent has taken. Taking or encouragin­g any harsh measures in haste may add fuel to the resentment smoulderin­g in many of its most ardent erstwhile supporters.

For now, the FIA's efforts to have draconian aspects of Peca reinstated in order to punish those transgress­ing the red lines have thankfully been checked just in time by the government. Let's hope sense continues to prevail.

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