Pakistan’s bid to escape economic doldrums by scapegoating the IMF is futile, according to a revealing report. The country struggles to deliver sustained growth for its 250 million citizens, bogged down by multifaceted impediments across its 20 leading export items and six critical sectors. Structural reforms hang in limbo.
Insights from a government panel, set up by PM Shehbaz Sharif to chart a course beyond the expiring IMF bailout, stem from stakeholder consultations. It sharply rebukes the narrative of IMF overreach as a ploy to obscure the state’s reform lethargy.
Chronic pain points—unstable energy tariffs, policy flip-flops, tax distortions, supply chain inefficiencies, institutional disarray, and bureaucratic burdens—aren’t breakthroughs; they’re recycled gripes from years of reports.
The IMF has pushed for enabling business ecosystems, yet officials counter with accusations against the bailout, dodging accountability for inefficiencies and politically favored rentier networks.
A related piece highlights risks of entrenched low growth sans strategic pivots and real austerity. Since assuming power in 2022, the administration has offloaded fiscal pain onto citizens via regressive taxes and subsidy removals, bypassing cuts to privileged outlays.
Ordinary Pakistanis bear the brunt, signaling that blame-shifting delays the profound changes needed for revival.