The Economic Crisis in Pakistan
Updated: Nov 30, 2022
A country borne out of the damaging effects of colonialism was never destined for economic stability; the incessant political struggles of the new governing bodies, juxtaposed with the unceasing transfer of power between political parties didn’t only signal the harrowing effects of ineffective political and diplomatic resolutions, but also the decades long economic disparity of a nation to come.
The current economic situation of Pakistan could not be more bleak. Despite the recent democratic history of the elections, a penetrating reason for the dire situation of the country are the short-sighted decisions made by the previous governments - which not only has led to extreme weakening of the currency against global economic growth but also has discouraged a plethora of businesses to operate within the country.Radical extremism, in the form of political and religious rashness has hallowed the country’s sovereignty from within, leading to a peculiar sense of distrust within the citizenry, where not only most economic governmental operations riddled with corruption,but also with a lack of ambition of any sort.
Whereas the sun hardly uncovers its gleaming lights in the covers of winter, it is the common man that faces the furnace of the debilitating economy, and is burnt by the cataclysmic repercussions of the decisions made by those above him.This unabating pressure is indeed ever-present as middle-class citizens find it ever more distressing and grueling to afford basic necessities of life.Talented individuals, the intellectual cream of the country, unfortunately routinely look offshore to study or work and desperately aim to leave the country as the future looks equally disheartening and unpropitious, if not more.
A country’s development, whether in the political or economic domain, is a result of decades long diligent and persevering work behind the curtain mainly by its own leaders.It’s economic development is a conscious choice that should seek to partake in the ongoing global development with the internal system competent enough to revolutionize itself to keep up to modern times.Whether it be the recent ban on cryptocurrency or mere mobile games, the governments and leaders shortsightedness coupled with undeserving politicians given the privilege to directly impact the lives of millions by the stroke of a single pen has led to a highly dysfunctional administrative system.
Leaders are trying to reawaken the political and democratic spirit deeply instilled in the citizens and are drafting plans to revise economic and governmental policies.The previous government made significant growth in make the anti-corruption departments more responsible and it is indeed the irreversible winds of time that will unveil whether decisions made today will positively affect the lives of coming generations.