In search of growth

THERE appears to be growing impatience within the government with the ongoing economic adjustment, and an itch to somehow kick-start growth.

The itch grows out of the realisation that the most certain way to break the Imran Khan fever gripping the electorate is to provide at least a couple of years of rapid economic growth. But how to do this?

In the past, Pakistan has produced brief growth spurts using liquidity injections — both foreign and domestic. Foreign liquidity has come in the form of direct investment and debt...