Hopes on hold as lection approaches

Reforms implemented by Pervez Musharraf have shown good results. The hope now is that next month’s election of a civilian government will not take Pakistan back to the bad old days.

Ask anyone in the corridors of power in Pakistan how the country would have coped with recent political and military turmoil had its finances been as weak as they were three years ago and you are likely to be greeted with a nervous smile.

Nobody cares to speculate what the outcome for Pakistan’s economy would have been had the September 11 attacks taken place three years ago, before general Pervez Musharraf and his team began to implement a reform programme.

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