Floods wreaked havoc across Pakistan, wiping off 84 per cent of agricultural produce and 82 per cent of livestock. But that natural catastrophe was only the precursor to a financial crisis, showing how climate change can severely dent the economy. Days after its Prime Minister Shehbaz Sharif reached out to India seeking help to revive Pakistan's fortunes, its Finance Minister has left matters to divine intervention.
The minister Ishaq Dar was speaking on the state of the economy, when he said that Pakistan's progress is "Allah ke zimme", which means that the country's prosperity is god's responsibility. The comment comes at a time when weekly inflation has surpassed 31 per cent in Pakistan, onion prices have surged by more than 500 per cent and rates on rice, pulses and wheat are up almost 50 per cent. Visuals of clashes over flour in the streets amid a shortage of wheat, have highlighted the gravity of the hunger crisis looming over India's neighbour.
The Pakistani Rupee is also in a free fall, and hit record lows of 262 against the US Dollar, before recovering to Rs 250. But this hasn't done much to bring stability and reduce prices, while the Finance Minister's reliance on supernatural factors isn't helping Pakistani citizens seeking reassurance.
