DEMOCRACY in Pakistan has yet to yield significant improvements in living standards and provide a stable environment for businesses to thrive. Despite this, the recent elections saw 60.5 million Pakistanis using ballots, more than ever before in the nation’s history.
It indicates people’s profound trust in democracy and a belief, perhaps perceived irrational by many observers, that an elected government has the potential to serve the public better and advance the nation’s long-term interests. The crucial question looms: Will the new government live up to this trust and deliver on its promises?
Unfortunately, the situation is incredibly intricate, and the success hinges greatly on the competence of the new economic team in navigating these challenges. Pakistan confronts daunting economic hurdles: inflation has soared to an unprecedented rate of over 30 per cent, while economic growth remains almost stagnant if one considers the population growth rate.
All discussants on the topic unanimously agreed on the high stakes involved, recognising that the next finance minister faces the formidable task of meeting the expectations of both the public and the business community while simultaneously adhering to stringent stability targets.
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