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Economic sovereignty March 15, 2021 This refers to the news report ‘Cabinet approves SBP Amend 2021 related three bills: Hafeez’ (Mar 10). Certain additional conditions, ostensibly impinging on the nation’s economic sovereignty, have been imposed by the IMF for reviving the stalled programme. Misplaced focus on reining in inflation instead of targeting growth and investment have been the traditional recipe of the IMF. The measures such as a hike in inflation and tight money supply hold back investment and stifle growth. A halt in economic growth leads to rising inflation and unemployment. The economy enters into a vicious circle of recession and inflation with serious supply constraints. There is absolutely no reason why the country cannot be run without the assistance of the IMF. The outflow of dollars can be easily cut by curbing the import of luxury, wasteful and unnecessary items – that end up making the import bill of $ 8-10 billion. It will prevent the need ....