Socio-economic turmoil and challenges of policy making in the current era.

With the exit of Pakistan Tehreek-e-Insaf (PTI) government and the ar rival of a new govern-: ment, the economic indicators of our country have taken a turn for worse. With an onslaught of allegation and fake news on multiple forums, there are no clear cut facts and figures to rely on. The common man, like myself is worried that it may lead to a chaotic situation, worse than Sri Lanka. The economic managers of present regime paint a very bleak picture while the same is completely denied by the previous regime. A new blame game has started, leading to more uncertainty, chaos and problems of the population. This confusion would have been easily avoided, if the previous government would have given a clear picture of the economy keeping in mind the following data: 1- The amount of total external and internal debts as on 09.9.2018 as PTI came in to power and when the new government took of-fice on 09.4.2022. 2- During the tenure of PTI, how much loan (both external as well as internal) was returned. 3- Rupee exchange rate as on 09.9.2018 and on 09 4.2022. 4- Total foreign reserve held with the State Bank of Pakistan (SBP) and commercial banks as on 09.09.2018 and on 09.4.2022. 5- The number of direct taxpayer on 09.9.2018 and as on 09. 4.2022 or on 30.6.2021. 6- The total quantum of export and import as on 09.9.2018 and 09.4.2022. If the new government had disagreed with the data provided by previous government, its own economic team could have given its version of facts and figures and it could have led to some degree of sanity. In the absence of any clear facts and fig-ures from the present regime, as it seems, our situation is more like the Sri Lankan government. There is complete uncertainty and sense of chaos amongst the common man. Our external debts are very high. Rupee is all time weak. We are paying more money for imports as compared to our earnings from our export. We have to understand that a dollar saved is a dollar earned. In such a chaotic situation, the speculators in the currency market are very active and take undue gain from the situation, which leads to the pres-sure on the Pakistani rupee, resulting in an even weaker Rupee, prone to further depreciation. While comparing our situation with that Sri Lankan government, which was officially declared as bankrupt on April12, 2022, we must keep in mind that Sri Lanka has a literacy rate of 96.30 percent and their exports of textile and garment stand at 52 percent. The main reason...