Managing the economy would require a major change for everyone. Mass and blanket import bans including palm oil, cars, strict enforcement of businesses opening hours 9-5 only (to reduce huge electricity consumption) etc etc.
Sh1t is hitting the fan already .. let's see if sensible economists are brought in to deliver chemotherapy the economy requires. PDM etc will always fail to deliver and if IK manages to get power he will fail too without delivering the required chemotherapy.
What you need is decisive leadership.
1) How we converted a calamity in form of covid to an opportunity. The rabid naysayers who were barking 24/7 for a lock down were later saying economic achievement was due to COVID (rather than acknowledging the brilliance in dealing with the crisis in the face of abuse)
2) Russia Ukraine crisis, how we rushed to secure discounted oil/lng/wheat deal, to balance off the vicious international commodity inflationary cycle.
Can't have jokers ( can't even defend the integrity and sovereignty of our country) in power like now and expect miracles.
These same jokers turned golden years of international low commodity prices and stability into disaster.
My previous tweet..
PTI took the toughest of decisions of any government in the past and was handling economy better than anyone else could do in the face of COVID ( the best performing economy in comparison to all our regional countries) to handling the most ruthless commodity price inflationary cycle. ( most notable Bent reached $130/barrel, Spot LNG market frenzy).
This foreign imposed government got only a fraction of challenges which IK got when he took over the office.
1) IK government had to deal with 4 years of backlog inflation ( due to artificially manipulated and over valued currency) let loose.
The toughest ask of any government in history.
2) Gas prices were heavily subsidised which IK government had to raise prices multiple times, they managed to pass the critical WACOG bill aswell.
3) Electricity prices were never raised in plmn government on the other hand expensive IPP contracts were signed left and right.
4) Reserves were far less when IK government took over combine that with CAD accelerating at $2b per month as compared to $0.5b in Feb 2022 and $1b in March 2022.
GDP growth for the first 9 months of this FY is around 5%.
Not to mention Vaccine import and TERF rollout. ( which contributed most to CAD this FY).
5) Exports registered at $3b for the first time in March, Remittances highest by a huge margin, IT services export record. ( All these things helped in managing CAD which is less than in 2018 in the face of vicious broad based commodity inflationary cycle, vaccine imports and TERF rollout)
6) Regarding IMF if people forget easily PTI passed the toughest legislation along with the toughest economic decisions to get the IMF tranche in
Feb this year.
7) Fuel subsidy in March was just Rs 32b, it was designed with a limit. ( The knowledge I have is from the profits of government owned enterprise which made record profits). This government is not even passing on the price hike from their tenure of one month while blaming it on pti and on ground more than doubling the subsidy.
8) Regarding LNG India just got cheap LNG cargoes from Russia, Pakistan was planning to import the same as soon as April by implementing both Crude swap agreement, Cheaper LNG and cheaper wheat. On the other hand this government bought the most expensive LNG on record ( average of 4 cargoes they bought).
These are some of the highlights, I will IA write a detailed thread on this when I find time. Because 90% of what you hear in the media is bullshit.
