Pakistan Needs Reforms in Economy – Latest News Update

Pakistan’s economy has recently shown an unexpected growth despite economically negative growth in 2020 while in 2021 it is 5.7pc. There is a hope to increase economic  growth rate of 6pc at the end of this year. Moreover, Pakistan has highest income per capita in the history and it was not ever before. 

But there is a serious problem about Pakistan is that Pakistan is currently lying on the feet if International Monetary Funds (IMF) due to the fear of bankruptcy and other malfunctioning. If Pakistan keeps on going like this there is chance that Pakistan economy will be vanished in one week. 
So, all the problems show that their is a structural flaw in the economy of Pakistan and not in the government or military. Even higher officials know that there are flaws which exist but no one in willing to try to bring reforms in the economy of Pakistan. So, Pakistan is facing acute conditions of disequilibrium in terms of economy after four decades. Pakistan instead of focusing on internal issues, is focusing of foreign affairs of China, US and other countries. This has consequences directly on the economy of Pakistan which everybody is suffering from now. It is not very easy to bring the bailouts. 

So, Pakistan’s economy needs strict and novel policies and reforms and if these are not implemented, there are chances that we will face multitude of these problems in future. So, Pakistan does not need more package from IMF rather it needs to reform its own policies. A layman is only interested in basic life necessities and not in rich and elite people things. To him just matters inflation only. So, what is needed now is to give more charity, more relief and more handouts. So, Pakistan’s economy needs novel changes, radical alternatives and new direction to set its own priorities for economic stability. 

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