Editorial

Dr. Busharat Elahi Jamil

The worst economic crisis in the history of the country has hit Pakistan. In fact, Establishment and the political forces played their role to gradually push Pakistan towards the hell of the monitory deficits. No doubt, the political elites can be held responsible for making weak economic strategies and diplomacies on the cost of the countrymen’s living economics. Since 1947, the privileged and authoritative classes have been getting stronger and wealthier unbelievably throwing all the discrepancies and liabilities in the cradle of the common masses. On top of the heap, they still demand sacrifices from the public without sharing anything to compensate the demages owed to their filthy wealth. Pakistan is an ill-starred nation forfeiting since 1947, in the name of national prosperity, unity and so-called development but unfortunately deprived from positive outcomes. Even in 2023, Pakistanis are deprived of their basic rights and in a status of begging for the basic needs. The recent figures state Pakistan’s public debt soaring up to 275 billion USD (around 63 trillion PKR) with the foreign reserves hitting the rock bottom (around 5 billion dollars), the least in the economic history of Pakistan.  Pakistan is suffering from the uppermost ratio of insufficient per-capita income.

Comparatively, in 2018 according to the World Bank figures number of poor population were 46.5 million (21.9%) in Pakistan. Furthermore, according to the Asian Development Bank in 2019 proportion of employed population was below 1.90$ a day (age 15+) being 3.7% only. In 2020, poverty ratio magnified by around 5%, which increased from 4.4% to 5.4%, in 2020 more than 2 million people fell below the poverty line (World Bank). In 2023, around 60% population of Pakistani is living a miserable life, below the poverty line.

Ruling elites are growing financially wealthier twisting or defying the laws of the country. In these circumstances NAB, Judiciary, FIA and other respective law enforcement agencies seem helpless. In a mockery statement, the symbol of corruption Mr. Shehbaz Sharif the PM announced that he had zero tolerance against corruption, in fact, making fun of the accountability system of the Country. PDM regime have taken every step in last 9 months to eliminate the corruption cases against them but failed to improve the worst fiscal status quo of the Pakistan.

To make Pakistan economically progressive all stratums of life including ruling and authoritative classes should participate to fire the economy of the Pakistan on all cylinders. Judicial system should be upgraded and accountability should be working with no hazard and interruption.  Serious steps are needed to wipe out the corruption and corrupt elements, which are regrettably influential and prevailing in Pakistan. To contain the deficits, imports should be reduced and exports must be multiplied. Furthermore Media, educated classes, economists and religious stratums should support the system to make Pakistan economically prosperous. Last but not the least, deficit in honesty and morality should also be considered.