The best thing about Dr Waqar Masood Khan, a former Secretary of Ministry of Finance, is perhaps his sincerity of purpose that has found its best expression from the headline of his op-ed for Business Recorder: "Fiscal deficit remains main threat to economy". In other words, widening fiscal deficit constituted a major threat to the country's economy during a period in which he himself was the top official of Ministry of Finance. His articulation, therefore carries a stronger sense of credibility. He has concluded his op-ed by arguing that "The dilemma we face is that not much would be done until a new Government is in office. The Caretakers had a poor start as they initially indicated that they would open a dialogue with the Fund (Article-IV) but a hard response from a member of the Senate has made them change their mind, vowing they would not be engaging in any talks. The country has to suffer in silence for two more months as the people continue to suffer the vagaries of economic indiscipline. Even when the new Government is in place, it would not be bringing cakes and pastries for partying. They would have to saddle with the harsh realities of cleaning up a mess of an unprecedented scale. So, the nation has to fasten its belts as it braces for a hard landing over at least a six-month period after the new government has a chance to layout its plans and put them into action."

The caretakers and the next government would be required to pay heed to whatever a former Secretary of Ministry of Finance is advocating or suggesting in the greater national interest.

Copyright Business Recorder, 2018