OPINION
Abdullah Niazi
A Freu-Darian slip of the tongue?
waters. On the other hand is Ishaq Dar, who has a proven track record of maintaining a ‘strong’ currency at all costs. What is a little strange perhaps, and we must stress that it is only a little strange and not a lot considering the stature of Ishaq Dar, is that even the PML-N seems to be clamouring for Mr Dar to return and replace Ishaq Dar. In a recent tweet, the official account of the PML-N tweeted a picture of Miftah Ismail but in the caption wrote “finance minister Ishaq Dar.” At first, it seemed that perhaps it was a Freudian slip - the e would request that everyone take a moment PML-N social media handle remembering fondly a time of great prosto send their thoughts and prayers towards Fiperity when Pakistan’s economy was in the fiscal wild west. nance Minister Miftah Ismail. And no, he does But then it began becoming clear that PML-N associated acnot just need our prayers right now because he counts were tweeting quite strongly for the former finance minister is on the precipice of cutting the biggest deal to make a comeback. A recent statement by interior minister Rana of his professional life with the IMF, but because of the shadow he Sanaullah had him openly admitting that Dar was “guiding” the govcontinues to live under. ernment’s economic policies. It is always a tough gig to follow into office a great man. In his https://twitter.com/UzairYounus/status/1539198080851095554 two stints as finance minister, particularly in the current one, Miftah Naturally there have been detractors to this. All visionaries are has proven to be a sensible actor that manages to strike a balance told at some point that they are mad. People have said that despite between honest-policy making and loyalty to his party cadre. He Ishaq Dar’s towering persona, his 32-Watt smile, and the calm his seems to possess the trust of the prime minister and has moved him presence instils in the nation, perhaps he is not strictly speaking an on important issues like petrol prices. economist and hence not the best person to lead the economic agenda Despite this, the embattled finance minister is fighting off more right now. than a recession. He is also constantly reminded of the man he may https://twitter.com/arhuml92/status/1539625912873918464 never live up to - the PML-N’s iconic former finance minister and One feels for Miftah Ismail here of course. Much like any person, perpetual samdhi Ishaq Dar. he has made mistakes. The response to the petrol subsidy, for example, Living up to Dar was always going to be a challenge. It is testawas not quick enough. But at the same time he has done a decent job ment to his towering intellect and economic prowess that an entire at implementing the necessary, despite the difficulty of the decisions. school of economics popularly known as ‘Darnomics’ has popped Perhaps that is why his situation has been seen sympathetically in up and become a household name in Pakistan. Dar, to his credit, is some quarters. not one for false modesty and has been seen publicly accepting and https://twitter.com/mosharrafzaidi/status/1539586736837337089 acknowledging the services of Darnomics to the country. A recent And there is of course the little detail that all of this noise might heartwarming exchange shows how the sentiments of the nation, dehave been kicked up by Ishaq Dar himself. He has not been shy in spite the best efforts of Miftah Ismail, continue to be with the finance making mind (and rule) bending graphs and posting statistics on his minister of hearts Ishaq Dar. twitter handle. He has also been sharing on private channels youtube https://twitter.com/MIshaqDar50/status/1539355182886273024 analysts claiming a big ‘change’ is coming on the 15th of July. In addiIt makes sense in many ways that the nation is clamouring for tion to this, the PML-N, despite the social media slip-ups, is denying Ishaq Dar to return. After all, on the one hand you have Miftah Ismail, the rumours. Former Sindh Governor Muhammad Zubair very recently who has raised petrol prices, has returned to the IMF, and is consaid in a talk show that he had not heard any mention or whisper of tinuing to steady a ship that is going through some seriously choppy Miftah Ismail being replaced by Ishaq Dar in any senior circles of the PML-N. That does not, however, change the fact that the shadow of Dar will always hang over Miftah Ismail. The writer is assistant Why would it not? The shadow of Dar and his Darnomics hangs over all of us today as well. The obsession editor at Profit. He also with a strong rupee, the failure to regularise the taxation system, and unsustainable and inequitable growth writes for The Dependent. are all legacies of Ishaq Dar’s time. It is a shadow that must haunt Miftah Ismail on a personal level. He can be reached As a businessman in charge of Ismail Industries, he must have struck a lot of deals in his life. But he is at abdullah.niazi@ currently in the middle of striking the biggest and most important deal of his entire career. At such a time, to be pakistantody.com.pk undercut by whisperings and musings of a former finance minister must be disheartening. And Miftah is not alone. All of us are under the shadow of Ishaq Dar, and no one is likely to forget the impact he has had for a very long time.
An Ishaq Dar shaped shadow hangs over Miftah Ismail and all of us
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