Economic experts held an air of resignation and frustration on Friday when talking about Pakistan’s financial challenges and the way forward on day one of the 16th Karachi Literature Festival (KLF).

The panel, consisting of well-known names such as former finance minister Miftah Ismail, economy journalist Khurram Husain, Adviser to the Finance Minister Khurram Schehzad and prominent industrialist Arif Habib, spoke at length at the moot about the issues plaguing the economy.

Husain highlighted the plight of those earning daily wages, underscoring that their purchasing power was destroyed by 30 per cent since 2021 despite ease in inflationary pressure now.

“We are no longer in the midst of a ferocious inflationary fire — that fire has been extinguished — the default cliff has been pulled back so that’s one place the economy stands but here’s where the good news ends,” he said.

He pointed out that the current period of stability was on the back of the same tools every........

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