The bitter and alarming fact is that Pakistan’s economy has been totally dependent on foreign loans and aid for decades. Unfortunately, the ruling elite, instead of trying to reduce the back-breaking burden of loans, seems to have been making every effort to further increase our debts.
In order to make the country self-reliant, the federal and provincial governments are required to take the following drastic measures: Curtail their huge lavish expenses, ban the import of luxury items, promote exports, discourage foreign trips on the taxpayers’ expense, crackdown on corruption, reform the salary structure, perks and privileges of the bureaucracy, expand microfinancing for small businesses and skilled individuals and boost investment in the economy.
Hasan Afzaal
Karachi
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