Economic Crisis in Pakistan: Challenges and Prospects

Introduction

1. Global economic crisis
2. Economy of Pakistan at a crossroads
3. Causes of economic decay In Pakistan

Challenges of Economic Crisis in Pakistan

1. Dwindling foreign exchange reserves
2. Current account deficit increasing exponentially
3. Stagnant Small and Medium Enterprises (SMEs)
4. Reduced Foreign Direct Investment(FDIs)
5. Shameful picture on human development index
6. Social fabric of Pakistan torn by a never ending war on terror
7. Myopic financial policies leading to fiscal quandary of Pakistan: Relying on IMF
8. Regressive taxation exempting the wealthy and squeezing the poor of Pakistan
9. Clienteles politics directly conflicting progressive reforms in fiscal policy
10. Rampant corruption and money laundering further festering the economic crisis of Pakistan
11. Mass illiteracy: biggest hurdle in the way of producing a well-trained workforce concentration of wealth in a few hands

Prospects of Economic Crisis in Pakistan

1. Increasing political awareness translating into positive political will necessary for economic progress in Pakistan
2. Investment by foreign countries and individual
3. Peaceful environment due to curtailment of terrorism: conducive environment for economic stability in Pakistan
4. Burgeoning middle class auguring well for economic prognosis of Pakistan
5. Policy initiative keeping public opinion at the center: a sure way for a stable economy
6. China-Pakistan economic corridor (CPEC) as a harbinger of economic stability
7. Advances in science and technology
8. Continuation of democracy laying a framework of stable Pakistan
9. A robust foreign policy centered on regional cooperation to achieve trade viability
10. Restoration of relation with neighboring countries

Conclusion

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