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It is understandable why political and economic stability have been so difficult to come by given that one faction inside the PML-N has been consistently sabotaging the party’s own leadership.
It was uncalled for for Maryam Nawaz to publicly distance herself from Finance Minister Miftah Ismail over the recent increase in petrol prices. She also falsely claimed that her father had left a meeting where the matter was discussed. They merely made it easier for the PML-N’s supporters and allies to attack the embattled finance minister with punches, forcing him to make excuses.
Though Mr. Ismail’s work is selfless, it doesn’t have to be this painful. When the IMF is on his tail to check how the government handles public monies, he has no excuse for practicing fiscal restraint.
See also: Pakistan must “do more” to receive a double IMF payout
According to Mr. Ismail, the price hike was solely implemented to offset pricing discrepancies in fuel sales during the previous two weeks. Any decline in global oil prices under the new pricing structure will eventually filter down to end users, if not during the present cycle then during the next.
While lawmakers on opposing sides have been bickering and fighting over the past few months, Mr. Ismail has been transparent about his plans to clean up the Augean stables of our economy. Although one may not agree with the route he took, it is hard to fault his dedication to the enormous undertaking.
Read: The government faces two choices.
Sadly, then, the primary resistance to him has not come from the PTI but rather from a faction within his own party that continues to adhere to the ideologies of former Finance Minister Ishaq Dar.
It appears that Mr. Dar has been whispering some unsettling thoughts about how the economy should be run into the ears of party chieftain Nawaz Sharif. The animosity of the Nawaz camp towards Mr. Ismail appears to stem from Mr. Dar’s well-known disdain for his junior colleague.
Ever since Mr. Ismail was first brought in to repair the damage caused by Mr. Dar’s currency rate policies towards the end of the previous PML-N regime, Mr. Dar, who has been widely blamed for being the mastermind behind Pakistan’s current woes, seemed to have had it in for him.
See also: Dar’s shaped curve
In addition to appearing to be in disarray, the government’s ship now appears to be dealing with an internal rebellion. The PTI, its principal rival, must be jubilant. Why the ruling parties are behaving like their own worst enemies defies logic.
This should have been a time to maintain focus and stability rather than announcing a split inside the organisation, as stability is gradually being restored to the economy and domestic capital markets are beginning to exhibit signs of calm. The absurdities keep piling up, undermining any remaining trust in this administration. Is there any chance of any maturity emerging?
