Dar, 72, is a chartered accountant who had served as finance minister thrice in the past. He faces the daunting task of stabilising Pakistan's economy which has been in a tailspin.
Pakistan rupee depreciated by 50% in Dec 2017-July 2019. With forex reserves left for one-and-a-half months of imports, Pakistan faces balance of payments crisis.
Pakistan’s economy is on the brink of collapse, and the IMF sanctioned a $6 billion loan last week on the condition that the rupee be left to perform freely.
In 2022, athletes claimed they were asked to wind up training early at Thyagraj Stadium so that the IAS couple could walk their dog. Then came the memes and public outrage.
Instead of buying more Mirages outright in early 2000s, the requirement was tweaked in favour of a medium-weight, multi-role fighter with Mirage-like performance.
Pakistan not only has zero chance of catching up with India in most areas, but will inevitably see the gap rising. Its leaders will offer its people the same snake oil in different bottles.
COMMENTS