Noted Business Recorder op-ed writer Dr Waqar Masood Khan in one of his contributions for the newspaper has raised a highly pertinent point with regard to country's state of economy. According to him, the key challenge is complacency that has unfortunately characterized the PTI government's approach to economic policymaking.

Dr Khan, who is a former finance secretary, has therefore plausibly concluded his argument by stating that "Viewed in this backdrop, it is very difficult to share the optimism of economic managers. There is a great deal of hard work lying ahead to overcome the uncertainty that is visible in so many trends, including those we noted above. In fact, the economy is vulnerable to both external (oil prices) and internal (loss of confidence and panic) shocks. To avoid uncertainty and create buffers against the shocks, it is imperative that we move decisively toward a clear stance for doing an IMF programme and conclude it before things deteriorate even further."

The PTI government must not therefore lose sight of the fact that when it comes to economic policymaking, complacency can be dangerous.

Copyright Business Recorder, 2019