I have had the pleasure of attending recently a very well managed and attended @PakistanLitFest in London organised by @BloomsburyPak@LightstoneP
I was part of a distinguished panel on economy titled “Root causes of the economic crisis” very ably moderated by @NadirCheema.
Attached are excerpts from my remarks at the session in video and notes below:
• At the outset on this debate, we need to figure out the core problem. While the popular notion that ‘we’re confronted with a current account challenge’ is perhaps correct, but it’s the symptom; not the cause of our problem.
• CAD is our Achilles heel, but it is driven primarily by fiscal policy, which essentially propels consumption-led growth.
• The balance of payment crises of 2013, 2018, and 2022 were driven by higher budget deficits. The real problem is our fiscal policy and the mounting government debt.
• As the solution to all our problems in our formidable years was the “CTRL ALT DEL button”, and this is perhaps the time to press that button, and review our fiscal policy afresh.
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A great lineup of speakers gathering in London for the Pakistan Literature Festival. Please join us on 17 June 2023 at Conway Hall, 25 Red Lion Square, London.
KIBF2021 - Day 1. We are truly grateful for the overwhelming response on the first day of the Karachi International Book Fair! Visit us in Hall 1 until 3rd January! https://t.co/twQYBF0x08
Betrayal, a riveting tale of spying, politics & war. A work of fiction about facts scattered all around. By inimitable @omarshamid . Review coming soon.
@WajSKhan@omarshamid I'm just loving this book. Was reading it during an extremely boring meeting and at one point i couldn't contain my laughter only to realise that my laughter had punctuated a rather awkward moment in the meeting 😋. The book cover didn't help thaw the ice either.