Sometimes, a news item appears on the pages of a newspaper as a piece of good news; yet, if that same news is read inside the home of a poor person, its meaning changes entirely. While the arrival of a new tranche from the International Monetary Fund (IMF) into the national exchequer certainly provides a boost to the economy, consider the perspective of the person whose salary runs out by the tenth of the month-someone forced to choose between paying children’s school fees and settling the electricity bill, and who asks the price of every item at the market but returns home without buying many of them. For such a person, announcements regarding economic improvement remain merely “news” until there is a tangible change in their own circumstances.
There is a strange paradox in the discourse surrounding Pakistan’s economy. On one hand, there is talk of improving fiscal discipline, repaying debts, and stabilizing the economy; on the other, the ordinary citizen remains anxious while trying to balance the books of daily life. Income is limited, expenses are rising, and certainty about the future is dwindling. The head of the household no longer merely contemplates how much can be saved that month; instead, they are constantly worried that a sudden illness, a child’s educational expense, or a spike in the price of an essential commodity might completely derail their entire budget. When life becomes a daily exercise in precarious financial calculation, a person faces not only economic pressure but also the loss of mental peace.
The situation of the middle class is the most concerning. This is a segment of society that is neither deemed eligible for substantial government aid nor possesses the resources to easily withstand each new wave of inflation. A salaried employee, teacher, journalist, small shopkeeper, or private-sector worker toils for years to bring their household to a decent standard of living. They aspire to educate their children in good schools, pay off installments on a modest home, and save for old age; yet, rising expenses begin to devour these plans one by one. Families that once saved for the future are now compelled to exhaust their past savings just to meet current necessities.
This is the point where the economic issue transcends mere poverty and begins to manifest as social decline. When the standard of living fails to improve despite hard work, educated youth remain unemployed, and even long-serving employees remain anxious about their children’s future, despair takes root in society. Such despair cannot be dispelled merely by handouts or temporary relief measures. People require an economic environment where hard work is rewarded, a sustainable balance exists between income and expenses, and planning for the future is not reduced to wishful thinking.
The question remains: how will the relief provided by the International Monetary Fund (IMF) tranche reach the common man? While the loan funds can help manage external payments, fiscal requirements, and pressure on foreign exchange reserves, they do not automatically generate employment, lower the prices of essential goods in the market, or increase a family’s income. To achieve this, the government must adopt economic policies whose impact is felt in the lives of ordinary citizens; if taxes are raised to ensure fiscal stability, it must be guaranteed that the tax burden does not continue to fall solely on the already overburdened salaried and low-income classes.
It is easy to point fingers at the ordinary citizen whenever the subject of taxation arises, but the real question is: why is revenue not being collected from the country’s economic resources in proportion to their actual potential? For an individual who pays taxes the moment they receive their salary, bearing additional burdens is becoming increasingly difficult. At the same time, bringing various economic sectors into the documented economy, curbing tax evasion, and ensuring transparency in government revenue and expenditure are imperative. If the state demands sacrifices from its citizens, it must also set a practical example of frugality and accountability in its own affairs. After all, for how long must the common man continue to bear the initial brunt of every economic crisis?
Industry, agriculture, and small businesses cannot be overlooked in the effort to revive the economy. Farmers cultivate crops using expensive seeds, fertilizers, electricity, and diesel, yet they have no guarantee of receiving a fair price for their hard work. Small traders struggle to sustain their operations amidst rising costs, weak purchasing power, and business uncertainty. Industrialists require consistent energy tariffs and policy stability to invest, boost production, and generate employment; providing support to these sectors could spark genuine economic activity. Merely bridging the fiscal gap through borrowing is not a sustainable solution; the country must increase its production and revenue. The plight of the youth is equally concerning. When a young person wanders in search of employment after completing their education, their despair is not merely a matter of personal deprivation; the hopes of their entire family are also tied to them. Parents invest their life savings in their children’s education, anticipating that they will one day stand on their own feet; however, when suitable employment remains elusive despite holding a degree, the money spent on education begins to feel like a heavy burden on the family. Integrating the youth into economic activities through vocational training, skill development, easy loans for small businesses, and the growth of export-oriented industries is a pressing need of the hour.
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