Food! Crucial for survival and the most significant is nowadays becoming a rare commodity, ironically! while Pakistan is an agricultural country. People can be seen running behind the food trucks, fighting for a bag of wheat, a very common sight however the most alarming. In-fact Pakistan became a state of beggars, am not saying this however it’s the opinion of Pakistani Prime Minister Shahbaz.
Normally where inflation rises4-6 percent, here it rises 30 percent, that means if a commodity costs 100Rupee last year today the same product you will get at Rupee 130. Let’s say onion and an economical household item increased 5 times in its price. Talking about the power crises, shopping malls have the instruction to switch off the lights before 8:30 pm, even in Islamabad, the Capital of Pakistan there comes a serious power shortage, the Unit price once charged as Rupee 8 is now embarked at Rupee 60. Natural or Sui Gas, if you find somewhere, then it’s a miracle.
We have such a shortage of money that the Pakistani embassy in the United States is forced to sell its US property in order to generate some cash. Moreover, PM Shahbaz has been reported as requesting the United Nations for aid. Since 1947 we have been facing serious Political, Economic and Climate disasters. 1971first Political sock, when the country split into two parts, side by side this affected the economy. From the time of creation 29 Prime Ministers came one after another, however none of them have completed their 5-years tenure, such a political unrest! Moreover, 18 times the elected Prime Ministers have been dismissed because of corruption or military coup.
Most recent example is of Imran Khan, World Champions against whom Shahbaz combined 7 political parties to cast a no-confidence vote. Therefore, Pakistan has had to see a self-created Economic crisis, because whenever a government changes, it changes the financial policy, they willfully take opposite decisions to prove the previous wrong, without regarding its effects on the country and economy. Moreover, such political uproars give way to domestic political instability, terrorism and threat of Taliban which again found embodiment in the country’s big picture.
Along, the constant influx of Refugees from Afghanistan and Kashmir, a foreign burden on an already bending economy, days are not far when we will be placed next to Sri-Lanka. If we see the statistics, from previous years constantly Pakistan’s Economy is falling whereas Loans are rising. According to the World Bank this year Pakistan will encounter a 2 percent increase in its Economy while a 23 percent increase in Inflation.
As Pakistan Exports are $ 30 Billion however Imports are around $ 90 Billion, which leads to decrease in Foreign Reserves. The GDP is $ 376 Billion, and Debt is $ 274Billion, indeed that gives us a gift of Interest, for repaying the debt along with the interest 1/3rd of Pakistan’s budget consumed every year. Gloomily in the coming 3 months Pakistan has a liability of paying $ 8 Billion when it has $ 5.8 Billion in its reserves.
Simultaneously, Nature also seems to be showing its wrath on us in the mirror of the Climate disaster, last year Pakistan had encountered Floods that resulted in the loss of $ 30 Billion along with uncountable lives. Pakistan was established by the blood and sacrifice of men although with such a hard fortune, whether the circumstances are the fruits of our own doings or master plan of some hidden agenda however it certainly calls for consideration.