Dateline Washington - Pakistan Economy Problems
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Sarah Zaman, Urdu VOA News, Washington This report takes a look at various factors that are affecting the growth of Pakistan's economy. Foreign and domestic borrowing have put a burden of over 100 billion dollars worth of loans on Pakistan and while these loans are supposed to create more investment and jobs, economists are not really seeing those effects in Pakistan. On top of a rising burden of loans Pakistan has faced two massive natural disasters in a short span of five years including the earthquake of 2005 and floods in 2010, this coupled with rising terrorist activity, people displaced due to war on terror and high inflation are adversely affecting economic progress. While many argue that the global financial crisis is also a reason for the recent downturn in Pakistan's economy, economist Zubair Iqbal with the Middle East Inst. says that is not exactly true since Pakistani banks are not very closely connected to large, global banks and while international demand for Pakistan's exports dropped, the prices of imports also dropped which helped Pakistan somewhat. Mr. Iqbal says the real reasons for Pakistan's financial woes are poor structural conditions including rising budget deficit, large interest payments on loans and a private sector that is not very competitive and is being given too many subsidies.
Comments
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No chances for Pakistan's growth unless this country follows democracy, it's better if army take charge.
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this country will break by 25% within the next 40 years.
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this is a test from ALLAH(SWT). we need to develop patience.QURAN CAN NOT BE WRONG. LET EVERYBODY CONSIDER THAT PROBLEMS FACED BY PAKISTAN ARE MINE.I HAVE TO SOLVE THEM. LET US NOT EVERYTIME LOOK TOWARDS OTHERS OR GOVERNMENT. THAT IS THE SINCERE APPROACH. YOU WILL FEEL THE DIFERENCE DEFINITELY. we need to see where is the fault, it is in our minds. LET US START AS BROTHERS AGAIN AND SHOW THE WORLD THAT WE HAVE THE CAPACITY TO SOLVE OUR PROBLEMS.YES SAY AGAIN PAKISTAN ZINDABAAAD
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@TheRaawan That anger frustration and swearing in your voice only point to how u people burn, despite how bad we are. Well, you wont be alone when we pump that helium in your behind and fly u into the stratosphere.
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@TheRaawan We dont compete with India Rawan; we make our own weapons and planes. With your tanks getting heavy failing where they should have run and your planes still testing, your nuclear and missile technology looking busy doing nothing and inferior to ours, there is really no competition between us two conventionally or unconventionally.
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This report is a scarry breath taking news. Pakistan economy level is going to low and kicked us way back in race than we were three years ago. It's time to break the silence. People of Pakistan need to be very generous to country. Pay taxes and hold Government accountable for corruption and speak for their rights. Think about nation and hardwork with great sacrifice(individual personal benefits). Think in favour of Pakistan.
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