Introduction:
Ever since this nation dawned on the world map and the imbalance it experienced during the partition, Pakistan has not tapped on its sustainability in terms of the economic scenario and it’s still recovering from the mistakes it made in the past.
It should be in our best interest that after experiencing the economic turmoil in the last decades, the government accelerated with 4.3 percent of the economic progress however, the citizens remained under the darkness and went short on gas and electricity throughout the whole tenure.
In the current time, the growth has declined by 2.2 percent, which is a major concern for the rulers and the governance running in the country.
Main Reasons For This Economic Downfall:
Inflation:
Pakistan has been challenged via ‘inflation’, which leads to the over-growing prices of the commodities and so on. It has damaged the group of salaried people and accelerated the tax rate for the citizens of this nation.
Furthermore, Pakistan has experienced a higher public debt whenever ‘inflation’ hits the markets equaling to 70% of the overall GDP (Gross Domestic Product). It’s a time when investors are ignoring the future endeavors and none of the opportunities are arising on the horizon.
Malfunction In Regional and International Markets:
Another problem haunting the economists working for the betterment of this nation is ‘malfunctioning of regional as well as international markets’, which leads to discussing the presence of “IMF” imposed on all the under developing countries in the world.
The commodities are getting affected along with the common men as they are suffering on a regular terms after getting charged with a higher price for electricity, water and other basic necessities of the life.