Winds of Change

The much awaited winds of change are finally being felt and the march to naya (new) Pakistan has begun. A Finance Bill being dubbed a ‘mini budget’ is being implemented, a bond targeting expat Pakistanis called the Pakistan Banao Bond (Make Pakistan Bonds) has been announced to attract dollars, the UAE and Saudi Arabia have come in with massive support, a positive meeting has been held by the PM with the IMF Chief and the Saudi Crown Prince is due to visit and sign the accord for a multi-billion-dollar oil refinery at Gwadar– the terminus of the CPEC being built with Chinese support. A major factor for these developments is the untainted reputation of the PM, his resolve not to allow corruption in his government and the fact that he has no family members riding on his coat tails for favors. This a big change from the past and a new factor in the political institution. All these developments herald the first phase of an economic turn-around-that will stabilize the economy and recue it from the crisis mode in which it was buried.

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