Economic stress

Pakistan is caught in an economic and financial crisis. Obviously, there are many reasons for the current state of the economy and its continuous spiraling downfall. Government subsidies to moneyed men, among others, are one of the largest contributors to the economic downfall. The country is incapable of collecting taxes and customs. Even after, the expected financial pumping from the International Monetary Fund (IMF), I am not optimistic that the country’s ailing economy would see much improvement because in every public-sector organization and other domains and disciplines we have plenty of wasters.

In addition, a vast majority of people in this country live in poor conditions. The question remains whether the present rulers can steer the country’s economy away from collapse and provide real solutions to the problems that the average Pakistani is facing on a daily basis. The solution is to create new ways to finance the public budget, and not to rely entirely on loans, be it from the IMF or friendly countries. Above all, luxuries and lies – a culture in public-sector organizations – must be discouraged and simplicity and truth must be promoted for building economic resilience.

Hashim Abro

Islamabad