Adapting economically

The dialogue between PML-N, its coalition allies, and the main opposition party, PTI, has been fortunately initiated at a time when Pakistan is threatened by a surge in global uncertainties while it is still struggling to achieve durable macroeconomic stability. The dialogue is supported by a strong countrywide consensus to rethink our strategy on revamping and restructuring the economy to open up space for inclusive and sustainable economic growth. Pakistan’s economy grew by a mere 0.92 per cent in the first quarter of the current fiscal year, a steep fall from 2.3pc recorded in the corresponding period of FY24. Outdated systems that have lost much of their social utility are the main cause of our severe distress, but the slippages are opening up alternative opportunities to build a better future. As President Asif Zardari says, “The world is changing and we have to adapt.”