ANJUM IBRAHIM

Difference between micro and macro

“There is a major, major difference between macro and micro. Anyone with experience of the one cannot be assumed to be good at the other.”

“Well, admittedly micro economics, say running Engro, does not mean that you can run the economy – the applicable economic theories of the two are very different.”

“That explains why Asad Umar was removed as the Minister for Finance though he has been resurrected as the Vice Captain with responsibilities for all important China Pakistan Economic Corridor, all important because that is the only source of investment inflows, then he is the head honcho for the National Command and Control Centre focused on the government’s response to the Corona virus and…”

“I agree, so Hafeez Sheikh put that in your pipe and smoke it!”

“Hafeez Sheikh doesn’t smoke besides while he did replace Asad Umar and has gotten rid of all those who challenged his directives – Secretary Finance that he inherited, was summarily removed within a week of Sheikh taking over, then Hammad Azhar was removed as Revenue Minister…”

”Yeah, yeah, but Sheikh is no longer part of The Khan team addressing the public though I would have assumed as the minister for finance he would be critical in fund disbursements.”

“That’s not because he challenged The Khan openly or overtly. He has a history of openly challenging everyone but not those with the power to fire him.”

“Indeed, in the spirit of a true bureaucrat! Anyway you know the Economic Coordination Committee headed by the Minister of Finance takes micro decisions which are at odds with the macro decisions and…”

“How come?”

“They are industry specific.”

“Right, but other ministers attend those meetings as well and give their input.”

“Sheikh Rashid said that as a member of the ECC his views were not taken on board, some reports were not shared with him and…”

“There is something Sheikh Rashid has in common with Meera.”

“They both make their presence felt like it or not!”

“Yes and they both are always available to the media and the media seeks the two as they make outlandish claims with each one more outlandish than the one before…”

“I know one thing that Sheikh Rashid does better than Meera?”

“Smoke a cigar while escaping on a motorbike?”

“Speak in English!”

“Let’s have a competition between the two: Meera has been in the US for a while and I hear her English has improved considerably while Sheikh Rashid has been confined with those who have no English…”

“Don’t be facetious.”