Economy will suffer (03122008)

Advisor to Prime Minister on Finance Shaukat Tarin has rejected the impression that Pakistan economy will suffer in the wake of raised temperatures between Pakistan and India in the aftermath of the Mumbai carnage. "We are trying to ease tensions that escalated after the recent spate of terrorist activities in Mumbai as early as possible," he added. Noble thoughts indeed from a noble man, who is yet to become fully coached in the art of politics and doublespeak!
But one thing Tarin cannot be accused of is the political sagacity. Only a naïve who is also deaf, dumb and blind would believe that the Mumbai carnage will not affect Pakistan's economy. The reference to naïveté is obvious but deaf, dumb and blind because the sound and fury of the gunfire all over Karachi, its news coverage in the print and electronic media is there for all to see, no genius is required but it certainly requires genius of a different kind to completely ignore it.
Fact is Pakistan's economy is already affected, violence has started in Karachi, the threat of an attack by India and an all out war is looming over the country, the Indian government has officially accused Pakistan and identified Muridke, near Lahore, as the source of terrorist support. In such circumstances the most obvious target is the economy. What little hope there was of getting Pakistan's economy back on sound footing by reversing the tide of capital outflow is now dashed with the current developments.
While it can be understood that the Advisor to PM on Finance has an almost impossible job to do and the external situation is not making his life any easier but he still enjoys some credibility, which he must use with care and give accurate assessment of the situation so the business, trade and commerce can plan better, rather than getting caught on the wrong footing.