Economic Crisis

Pakistans Economic Crisis by Prof. Khurshid Ahmad Pakistan has been in the grip of economic crisis since its creation. With excommunication of a few prosperous geezerhood, the general economic precondition of the people remained hard-pressed all through the last 50 years. However, the intensity and gravity of the economic deterioration and the state of realistic anarchy and disorder that is prevalent during the present rule (more in particular during 1998) has simply no parallel. Though the crisis snowballed during the last 26 years due primarily the wrong policies adopted - premier Sharif and his team ruled the roost for at least the last 15 years. Pakistans depleting economic conditions can also not be entirely attributed to sanctions imposed after May 28 atomic tests. Although sanctions confirm a partial effect, yet the major amaze of worsening economy (and which need to be accepted boldly) has been the misguided policies that the authorities pursued. If the leadership overlooking the real causes believes some IMF/WB loan extension bail out package as the only way out, then there bes no lay off to the present mire; then it is only the question of conviction that the country turns insolvent. The decisive moment is at hand. Procrastination aside, government must start making basic structural changes now.

keep going visits to revered Washington or supplication before the foreign monetary bodies shall work no more. It is a bitter realness that the countrys leadership (the present rulers and opposition) does not seem to comprehend the economic problem, what to talk of solving it. The situation is that of hit stagnation and recession. Factors effecting economy: To have proper understanding of the issue, picture real causes and suggest appropriate strategy, it thus seems necessary to have a look at the basic indicators of economy since 1972. The summary of past 26 years of Pakistan economy brings forth the next facts:     Lack of policy-making: No effort has been made... If you want to earn a full essay, order it on our website: Ordercustompaper.com

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