Pakistan, March 20 -- Is this it? Another round of IMF talks, another budget looming, and the same old questions: can we actually fix this economy, or are we just rearranging deck chairs on the Titanic? The recent progress touted by the IMF feels more like a ticking clock than a victory lap.

The reliance on friendly nation deposits, contingent on adherence to the IMF program, highlights Pakistan's precarious financial position. Now we're rushing the budget in a move that reeks of desperation.

The "policy discussions," fancy talk for immediate fixes, are all about plugging holes. But what about the real problems? The FBR is always falling short, and the tax burden keeps hitting the same people - the ones who can least afford it. The unre...