Finance Minister Ishaq Dar has committed himself to reducing the fiscal deficit to 4. The toll of life is still horrific. The so-called friends of Democratic Pakistan forum had made pledges to extend financial support to Pakistan but failed to honour their commitments.
Sugar, cement and shoe industry is on its downfall while textile industry is breathing its last. A large chunk of population lives below poverty line. About Economic problems of pakistan million young people enter the labour force of the country every year, to absorb such a huge proposition of unemployment youth in jobs, we need to have at least 7 percent economic growth rate for at least five years.
Economic problems of pakistan economic and political administrators need to pay special attention to modernize and regularize this expanding sector.
He sees around him with a hope of finding the same perfection in everything which his parents had provided him with.
The sluggish economic outlook is characterized by a number of factors. Corruption on the part of tax collector should also be brought to an end. The infrastructure is too weak to support the march of economic growth. There was a visit to Islamabad by US Secretary of State John Kerry in which he announced that his country will restart the suspended strategic dialogue between the two countries.
The government in its budget scheme projected the growth rate at 4. Currently rate of unemployment as per official resources is 7. Women must be as independent as are their male counterparts and must enjoy same rights and responsibilities. There are reports that a number of textile manufacturers have relocated their industry in other countries such as Bangladesh, Vietnam, Sri Lanka and Tanzania etc.
Secondly, urgent introduction of structural and institutional reforms are needed to put the economic cart on the motorway of sustainable economic adviser to the Federal Govt.
Moreover, domestic trade should be promoted. Even strategies are devised in an inconsistent way and every new government abandons not only policies but also projects undertaken by the previous government. The national debt currently stands at But now it has touched lowest ebb-about m USD has been reported to have invested by foreign investors during the fiscal years The services sector, nevertheless, is a redeeming feature of the struggling Pakistani economy.
There is great scope for increasing tax revenue and plugging the budget hole, but successive governments have struggled to take on vested interests within society.
Bad governance has contributed significantly to the incidence of poverty and slow economic growth rate. There are events of kidnapping, bank looting and bomb blasts. The government generates most of its revenues from indirect taxation, which is equal for the rich and the poor.
The key to improve the economic outlook lies in increasing the tax-to-GDP ratio. In these lines we will try to expound some of the most pressing and unavoidable implications of a failing economic system. The people must be given the freedom to raise their voice to highlight their grievances or concerns.
Budgetary deficit and balance of payment are always procured from the developmental funds that are already on periphery of the budgetary schemes.
In the coming pages, we will try to explore the causes of economic problems; their effects on the socio-political landscape of the country and finally discuss same suggestions to salvage the economic recovery.
This is the difference. Dependence on external capital inflow should be minimized by captivating domestic resource mobilization and reducing non-developmental expenditures. Low agricultural yield and nominal industrial products resulted in inflation and poverty.
Meritocracy is the only code of conduct in progressive societies.
Throughout the history, the most powerful countries were the ones which laid stress on knowledge and information. Low export and high Import: Population expansion has been a real issue of concern for all governments.
Causes of Inflation in Pakistan include: According to the report, about Economic Problems Of Pakistan And Their Solutions 8 Energy crisis: Energy crisis is the most important and critical economic problem which has affected the growth of the state unfavorably, the load shedding of Electricity, petroleum, CNG and Natural Gas has produced various problems and has resulted in the conclusion of several and many.
Finding solutions to Pakistan’s economic problems Expanding the tax base will require documenting the economy that remains outside the government’s reach. By Shahid Javed Burki. Essay with outline on Economic Problems of Pakistan.
Pakistan is facing a challenging economic out-look decisive and far-reaching policy action is needed to address this challenging out-look.
ECONOMIC PROBLEMS OF PAKISTAN Outline 1. Economy of Pakistan is in serious crises. 2. Political instability is the major cause along with many others.
3. In Pakistan, the system of taxes does not work well. 4.
Corruption and bribery of the government officials hinder smooth functioning. 5. PROBLEMS FACED BY PAKISTAN,RECOMMENDATION FOR ITS SOLUTION INTRODUCTION: In the context of Pakistan, owing to the fact that it is a developing nation, there is no wonder that it is engulfed with a number of social and economical problems.
major issues in the economy of pakistan / basic characteristics of developing countries like pakistan Introduction: A country where the average income of the people is much lower than that of developed countries, the economy depends upon a few export crops and where farming is conducted by primary methods is called developing country.Download