Pakistan’s economy has been severely damaged since 2022 due to weak policies and growing dependence on IMF loans. The ongoing engagement with the IMF has not provided sustainable solutions. Instead, the programme seems to be clipping the wings of Pakistan’s economy. Weak revenue collection, high imports and energy woes continue to plague the country despite all the painful steps the IMF has imposed. And while inflation has declined significantly, the cost of living still remains too high and is only rising.
However, there is still hope. Pakistan can reverse its economic downfall by investing in science, engineering and sustainable development. Without bold reforms and innovation, the country will remain trapped in an endless cycle of economic challenges and stagnation.
Ghulam Shabir
Larkana