Beyond stabilisation

PRIME Minister Shehbaz Sharif is right to note that the US-Iran conflict has adversely affected Pakistan and other regional economies. It is no surprise that wars, energy disruptions and geopolitical uncertainty hurt fragile economies like Pakistan. However, his emphasis — often repeated by our economic managers — on ‘stabilisation’ raises a critical question. This is one term that is heard daily in official discourse. Over the years, ‘stabilisation’ has perhaps become the most misunderstood and...