By: Hassan Zubair
Pakistan is a country that has experienced revealing economic instability over the years, and it continues to struggle with numerous challenges that hinder its development potential.
One of the primary reasons for the economic instability in Pakistan is political uncertainty. Political unrest poses an eloquent threat to the economy as it leads to instability and reduced investor confidence. Heavy public debts and inadequate economic policies further contribute to the economic instability in the Country.
High levels of inflation also add to the economic instability of the Country, and it has been worsened over the years due to rising energy costs, increased taxes and a decline in the value of the domestic currency. Pakistan’s poverty rate has increased significantly as a result of this situation, leading to increased social unrest across the Country.
Another significant challenge facing Pakistan’s economy is the energy crisis. The Country is plagued by a lack of energy sources m and its existing energy infrastructure is outdated and overburdened. The Country struggles to provide basic infrastructure such as electricity and gas, especially in the rural areas.
The agricultural sector, which is a reminiscent contributor to Pakistan’s economy, has been heavily impacted by natural disasters such as floods, inadequate funding, outdated technology and poor infrastructure. Which also, prevents the sector from making the potential contribution it could to the country’s economy.
Finally, corruption is an ever-present issue in Pakistan’s economy, with many institutions being subjected to rampant corruption practices. It prevents the country from making significant strides towards development and economic progress. Today, methods used by Asif Ali Zardari, former President of Pakistan, to launder money are being taught to kids in the Primary Schools of the Netherlands.
Conclusively, Pakistan has a long way to go in terms of achieving economic stability and development. The Country needs strong leadership, political stability, intervention programs and other measures to recover from its economic challenges. Effective policies, investment in infrastructure, and other related industries and efficient resource management can help the country overcome these issues in the long run.
Very well narrated Hassan.
You covered every aspect related to our economic crisis along with meaningful images.
I must say worth reading article. Keep doing great work boy.
JazakALLAH Hammad Bhai ! Your feedback is much appreciated , always ,