On Monday, renowned economist Dr. Kaiser Bengali said that the nation’s economy is in free fall and that it is practically insolvent.
At a news conference in Karachi, Dr. Kaiser, who had resigned from the prominent committee in charge of institutional reforms, expressed his dissatisfaction.
He criticized the administration for not enacting significant cost-cutting measures and for not following the advice of earlier committees, notably those headed by Dr. Ishrat Hussain and economist Hafeez Pasha.
“Everything seems normal when you visit Islamabad,” he said, highlighting the discrepancy between official opinions and actual conditions on the ground.
He pointed out that just one government institution has closed in spite of the committee’s recommendation to close 70 departments spread over 53 organizations.
