It’s not every day, nor everywhere, that an interest rate announcement shocks the central bank governor more than anybody in the country. He was apparently happy enough okaying the 100 basis points cut – inflation had let off a little, oil was cheaper, etc. But the finance secretary is always there in the monetary policy committee meeting, for some reason. Maybe it’s so he can give the boss a call for a quick heads up. And Dar sb, busy distancing himself from PSO, circular debt, current account, was still quick on the take and made it to the press first. Now the interest rate drop he did take credit for. Didn’t leave the SBP governor feeling very autonomous, did it?
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It might be getting a tad uncomfortable at home for the more liberal and outgoing bunch, but that doesn’t mean forward looking – and loaded – Pakistanis can’t globalise in their own peculiar way. Granted, it gets too much sometimes; with bomb threats, and conservatives getting uncomfortable with the singing and dancing at marriages of the rich and famous, and so on and so forth. So now those who can do it the way only they can. They have these affairs in far more catchy, and expensive, places. Some have done it in Paris, some in Bangkok, and others at other chic resorts. There’s special packages, tours and all. Strange how much the ability to think out of the box is enhanced, especially when the bank balance can afford it.
