IT is not yet clear how deep and how sustained they are, but cracks are now appearing in the edifice that is the hybrid plus regime running Pakistan these days. This is a natural consequence of the cul-de-sac where the economy is now parked. In the early months of 2025, Pakistan hit what I called “peak stability”, which was a state of affairs where the economy had been stabilised, its debilitating deficits bridged, inflation extinguished.