Currently the neighboring country Pakistan is in a severe economic crisis with the same economic crisis policies that are not sustainable. There are many people who are living by eating only one meal. Pakistan which was once a developing country with India and China why is there such a situation now and why has Pakistan gone into such a bad situation Economic crisis means that a country is completely in financial trouble and is unable to meet the basic needs of the people of the country and is unable to satisfy even the hunger. This is what is happening in Pakistan. If you look at the economic conditions of Pakistan at present it is 376 billion dollars, but the debts of Pakistan are 274 billion dollars which means that 73% of the total value of Pakistan is enough to pay off the debts. And you can understand how the situation is but the economic situation of Pakistan is being heard but in February 2023 the economic situation of Pakistan is well heard. The world has come to know about the situation completely for the first time. The important problem is the rise in prices in their country especially in the price of essential commodities. In that country a liter of milk is 190 rupees and a kg of rice is 316 rupees. Also near Govt. Papers or exams have been stopped the money to feed the lions in the zoo or they have been sold for less than the buffaloes means that their condition is getting worse. After the collapse of the entire economy of Pakistan restrictions were imposed in the country in the name of reform.
That is with the intention of reducing the use of petrol in the country the employees of the country were given the opportunity to work from home.
According to State Bank 59 lakh crore Pakistan rupees till August 2023 is more than the GDP of Sri Lanka, Nepal, Afghanistan. In simple words if Pakistan is paying off 100 crore rupees a day it will take 123 years to pay off the debt of Pakistan. In the last three years the government of Pakistan has made 20 lakh crores, since 1958 it has borrowed 23 times from the World Bank IFSC no country in the world has borrowed from the IMF so many times. In fact Pakistan former PM Imran directly says that even if the whole of Pakistan is sold the country’s debts will not be settled which means that the country is drowning in debt. But now the situation has come to Pakistan but Pakistan was one of the fastest developed countries from 1960 to 1990. Once Pakistan was a better economy than India. One thing that is unbelievable in today situation is that the income is 25% more compared to the income of a person in India who was once economically so high. Pakistan is now fully immersed. Governments are often collapsing and if there are ruling parties who protect the government then the opposition parties are the ones who bring down the government so the government has not thought of doing politics completely and the decisions taken by the frequently changing governments have become unsustainable so foreign companies are not showing much interest in investing in Pakistan. Many big businessmen are also making a country like Dubai, Saudi Arabia, Kuwait so most of the youth in Pakistan have lost job opportunities.
There are 108 unicorn companies worth 100 crores in our country but there is not a single company like that in Pakistan. If there are no jobs and unemployment will increase. Fifteen lakh people have applied for the job it can be understood that how are the job seekers and opportunities there but there are no jobs in Pakistan or last year two lakh 30 thousand people left Pakistan for other countries. This year seven and a half million people left Pakistan and went to other countries for employment so the government there has completely failed in providing jobs to the youth and they are not providing opportunities to the youth to start their own businesses. As the purchasing power increases new companies will come to manufacture those goods and the government will get income from every item that the people buy and the government will get an opportunity to use the returned income to develop the country again for the benefit of the people this is called wealth creation with the wealth created in the country, roads, schools, hospitals etc. can be built and good governance can be given to the people but this is not happening in Pakistan where the governments are completely focused on free schemes. In addition what the former Prime Minister of Pakistan Imran Khan did was that he completely emptied the countrys wealth by subsidizing free beds to the people as long as he was in power so he not only borrowed 1500 crores every day to continue those schemes but many of his predecessors did the same.
Pakistan is also not in a position to repay the loans taken from other countries because the foreign exchange balance in the central bank of Pakistan has fallen to 3.2 billion dollars and this money is not even enough to pay interest to other countries. In January 2022 Pakistan foreign exchange balance is 16.6 billion dollars with which it is very difficult to pay foreign loans and the value of Pakistan rupee has fallen to 289 against the dollar. No, Pakistan is not coming forward that they will follow any conditions for that but China is waiting for some assistance to Pakistan like UAE and Pakistan. Another important reason for Pakistan current situation is that Pakistan debt has increased by 200% in the last six years but Pakistan exports have increased by only three percent in the last year. While Pakistan imports 80 million dollars worth of goods it exports only 31 million dollars worth of goods. They are importing double the amount of goods they are exporting to foreign countries thus reducing the amount of foreign traffic that Pakistan should have The same is called place tips. For example if I buy something for 100 rupees and give it to someone else for 50 rupees the loss is called deficit. If these tray tips are high there will be collapses on the foreign route so the value of that country currency will fall in the international market so the value of their currency will fall like this will Imports of essential goods from Pakistan have decreased to a large extent due to the decrease in the foreign routeshould come
But now with the stop of imports oil prices have also increased a lot looking at all this situation it has become very difficult for the people of the poor middle class family to even eat a single meal because only three people are paying tax that is only one percent of Pakistan is paying tax 1 lakh per person per month It is not enough to get a salary of rupees it is not enough the money received in the name of free schemes is also working for the people but the reason we have reached this situation in Pakistan so far is the political policies. The country will definitely develop but Pakistan is not using the development schemes Although coal is available in Pakistan and the Pakistan is in a situation where it needs to import coal from other countries for electricity generation. Besides India the Himalayas are also in Pakistan. The Himalayas have very valuable mineral wealth. After seeing this China made friends with Pakistan and tried to steal the valuable wealth in the Himalayas. Another major reason for the downfall of Pakistan economy is that China acted as a favor by giving loans to Pakistan in return for encouraging terrorism. If any country gets the impression that one day it has relations with another country and nurtures terrorism then they will not do business with that country so easily in another country they will even think of having relations with that country. Now the situation of Pakistan is that Pakistan has nurtured terrorism out of revenge on foreign countries and has joined the list of countries that support terrorists and many countries have severed ties with Pakistan.
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