Pakistan's Economic Crisis/Ep. 6/CSS/Ahmed Ali Naqvi/Current Affairs

#css #currentaffairs #worldinfocus #economiccrisis

ECONOMIC CRISIS IN PAKISTAN
 
Pakistan’s economy is in shatters. All economic indicators are showing poor performance.
Risk of Default is growing. Inflation is expected to be around 23 % while GDP rate is expected to be 2 %.
Causes:
Long Term Factors:
Lack of Industrial Base
Lack of FDI
Energy Crisis
Loss making SOEs
Sluggish Structural Reforms
Security Threats
Poor educationa and research culture
Corruption
Foreign Loans
Short Term factors
Political Instability
Global Energy Crisis
Ukraine War
Covid 19
Situation in Afghanistan
 
SOLUTIONS
Short Term Measures
IMF
Restructuring of Loans
Reducing Imports
Help from Friendly states
Long Term:
Structural Reforms
Privitising loss making SOEs.
Knowledge based economy
Political Stability
Security of Borders
Attracting FDI
Ending corruption and improving governance
Conclusion