Moving Past Stabilisation.

After receiving criticism from the opposition, the International Monetary Fund's (IMF) terms imposed on Pakistan are seen as harsh by the government as well. While appearing before the National Assembly's Standing Committee on Finance, Finance Minister Shaukat Tarin surprised many when he did not defend the IMF conditions.

Predominantly, any further hikes in the power tariff are not acceptable. Nor can the people afford further increases in taxes. Another rise can reverse the gains that the government has made so far in trying to overcome the worst of the pandemic. The tax target for the next fiscal year will hit the vulnerable hardest, already struggling at the bottom of the social pyramid. The welfare arrangements by the government-already barely scratching the surface-will simply not be enough.

Instead of rising tariffs and taxes, the government must get rid of the loss incurring public entities by privatising them. Additionally, the IMF must revise its stringent policies regarding power tariff hike and indirect taxes.

There must also be an attempt to curtail circular debt through other means...