Business
Pakistan Surviving On IMF Reviews But Economy Remains Vulnerable As Ever: Report
New Delhi: Pakistan is witnessing the institutionalisation of a “survivalist” economy where every policy choice is dictated by the need to pass the next International Monetary Fund (IMF) review, regardless of whether that policy erodes the tax base for the next decade, while the economy remains vulnerable as ever — headed nowhere except, most likely, into another IMF programme, as per a news report.
The report in Business Recorder by Shahid Sattar reveals that Pakistan suffers from a chronic twin deficit: a fiscal gap (spending more than it collects) and a balance of payments crisis (consuming more foreign exchange than it earns).
“For fifty years, our imports have hovered at double the rate of our exports as a percentage of GDP. Simply, Pakistan is a country that has failed to produce,” it added.
The report argued that the fundamental flaw in the IMF’s approach is a “dogmatic adherence to revenue extraction at the cost of value creation”.
“By forcing the government to meet rigid fiscal targets, and through any means necessary at this point, the Fund has encouraged policies that stifle the very export-led growth required to break the debt cycle,” it further stated.
The historic economic model of state patronage was flawed and resulted in suboptimal allocation of resources.
“But there is a difference between weaning an addict off drugs and starving a healthy person. The IMF programme appears unable to distinguish between withdrawing support and subsidies, and actively destroying the ecosystem required for legitimate businesses to function,” the report further argued.
On paper, the IMF deals with the Finance Minister and the Governor of the State Bank. Technically, all policies within the Letter of Intent are the government’s own ideas.
“In reality, the programme reflects the behest of those holding the greatest political and economic leverage. When policies fail, the IMF claims the government designed them; the government claims the IMF demanded them. This ambiguity serves everyone but the country and its citizens,” the report lamented.
“Unless we reclaim our policymaking from the narrow, revenue-centric confines of IMF programmes, we are not just managing a crisis but rather our own decline,” it added.
Business
After 11 Years At Amazon, A Midnight Email Announced Indian Techie’s Layoff: ‘Suddenly Everything Was Gone’
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After 11 years at Amazon, the Indian-origin techie who lost his job shared that his teenage daughter helped him stay positive.
He is now learning AI and working on a side project. (representative image)
Losing a job after more than a decade at the same company is never easy. For this man, it came as a sudden shock. The Indian-origin tech professional, Hemant Virmani, who lives in Washington, had worked at Amazon for over 11 years before he was laid off in October 2025.
In an essay published by Business Insider, the 47-year-old opened up about how he dealt with the setback. He also shared how his teenage daughter’s resilience during her own difficult time changed the way he viewed his situation.
Layoff Email Changed Everything Overnight
Virmani said he found out about the layoff through a middle-of-the-night email. “Amazon was part of my daily life for 11.5 years, and suddenly it was gone,” he told Business Insider. He had been working as a senior software development manager.
He admitted there is “no right way or easy way” to conduct layoffs. While he had seen others lose their jobs in 2023, facing it himself felt very different. The next morning, he had a 30-minute meeting with his manager, who shared the news in what he called a “positive, human way.” A former manager also met him at a coffee shop to check on him.
Daughter’s Strength Gave Him A New Outlook
In the first few days, Virmani said he struggled to accept what had happened. But he began thinking about how his daughter had handled a difficult time in her own life the year before.
“She had an adverse situation happen to her last year that required recovery. How she reacted in that difficult time inspired me. Her mental model was: ‘Challenges don’t have to keep me from showing up for myself or for others.’ Her positive attitude was an inspiration for me to do the same,” Virmani recalled.
“I kind of learned from her that I had to take this layoff with positivity, keep my cool, and focus on what was next,” he added.
Soon after, he faced another personal loss when his father passed away. He travelled to India and spent about a month with family, thinking about his life and career.
Focusing On What Comes Next
Virmani now calls the break a “refreshing change.” He said he is less worried about the brand name of his next company and more focused on meaningful work. He has started learning more about artificial intelligence and is working on a hobby AI project.
He is applying for head-of-engineering roles and networking actively. He is also taking care of his health, going to the gym several times a week.
“My advice to anyone undergoing layoffs is to realise that layoffs are not about you. It’s about an environment that is driving layoffs. Secondly, now that this has happened, you can’t go back in the past and change it. Look forward to what you can do next. How you react is very important,” he said.
Delhi, India, India
February 17, 2026, 08:46 IST
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