Newly appointed Finance Minister Shoukat Tareen has announced his strategy to overcome rising inflation in the Country. While unveiling his plan, Tareen said that the government has established twelve working groups in the Economic Advisory Council to plan short, medium, and long term polices for different sectors of the national economy. Finance Minister was addressing a news conference in Islamabad on Wednesday. According to Tareen government is working on policies to put the national economy on upward trajectory through incentivization of the industries, housing sectors, agriculture development and other sectors. He expressed resolve to increase foreign export of IT products from 2 billion to 8 billon dollars per year, increase in loans to the youth for creating businesses. The New Finance Minister expressed his interest to walk with IMF and World bank in days ahead and ruled out the possibility to exit the IMF program in near future. While commenting on price hike of the daily use commodities, Tareen said that price stability and provision of relief to the common people is the key focus of the government economic policies.
Prime Minister Imran Khan posted third Finance Minister in the chair to manage to economic challenges and it would be second attempt of Shoukat Tareen to play in the chair. There is nothing new for the public in the recipes displayed by the Finance Minister, which earlier exhibited by the Shaikh. Both Shaikh and Tareen have enjoyed the position of Finance Minister twice and fully aware of the all strings attached to the chair, however, there has been no significant change in their discourse so far.
In fact, it is problem of governance rather than finance, government must review it’s financial priorities and management instead of changing faces in Finance Ministry because these poor guys have nothing to do except clearing government’s mess and accounting money in the national exchequer. It is advisable that during remaining two years, Prime Minister must change the system instead of faces, bring pivotal change in country’s administration, economic decisions must be taken by economic advisory council instead of cabinet. Elimination of Politically motived developed projects and distribution of development funds through MNAs and MPAs could be help full in stabilizing the country’s economy and bringing inflation in chain.