Now that the polls are over, whoever forms the new government will encounter multiple challenges. One of the critical crises that plagues the country is economic instability. Lack of foreign direct investment (FDI), low forex reserves, inflation, and the decline of the rupee, are all contributors to economic meltdown. The upcoming government should work tirelessly to pull the country out of economic turmoil. It must secure a new IMF programme and be fiscally disciplined, prioritizing essential expenditures and curbing wasteful spending.
Expanding the tax base and improving tax collection are also necessary in order to bolster government revenues without massive borrowing. Investing in export-related industries that make high value-added goods can help boost the economy. Attracting private investment and reforming unprofitable and inefficient SOEs must also be top priorities.
Shehzad Ahmed Brohi
Larkana