The government is damned if it raises petrol prices, and damned if it doesn’t. How does economist Yousaf Nazar see this economic crisis in Pakistan unfolding, Asma Shirazi asked on her show Faisla Aap Ka on Thursday night.
Nazar started out by explaining the kind of political environment that has been created: The PTI says if it doesn’t win, it will burn everything down. The judiciary has become active. Then the government is almost silent. Either it doesn’t want to do anything or is hesitant.
“When I see all of this, as a Pakistani I feel we are hurtling to a crisis,” Yousaf Nazar said. “We could have avoided it. We needed the government to make decisions. I can tell you as an economist what to do, but if the government doesn’t firmly decide, this crisis will get worse.”
It was essential for major political parties to agree on some basic ways to address the economic crisis. “But it is a war zone out there politically. Whatever is done will be used to score political points. It was not as if something could not be done. It would have been difficult but not impossible.”
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