The economy of Pakistan is the 47th largest in the world in nominal terms of purchasing power parity. Pakistan has a Sami industrialized economy. Which mainly encompasses textiles, Chemicals, Food processing, Agriculture and other industries. Growth poles of Pakistan economy are situated along the Indus River, Diversified economies of Karachi and Punjab urban centers coexist with lesser developed area is other part of the country. 2017 is the worst year in economic history of Pakistan. The poor performance of the economy in year 2010 was caused by floods in summer and poor economic and financial management. Followings are the facts about Pakistan Economic Problems, Pakistan economic outlook , Pakistan economic forecast and Pakistan Economic future in 2017.
Economic Problems of Pakistan, Solutions
One thing is sure there will not be any increase in the income of ordinary man. The number of the poor in Pakistan will also increase. If in 2011, population is 175 million this means that some 70 million people will live in absolute poverty. It also means that more than 40 percent of population of Pakistan will be in absolute poverty. The main problem is that most of these poor lives in urban cities and towns and they have less opportunities as compared with country side poor.
• Economic Problems
i) Economic Loss Due To War On Terrorism
ii) Energy Crisis
iii) Low FDI And Huge Debt Trap
iv) Poorly Managed Tax System
v) Low Export And High Import
vii) Influx Of Local People Form War Ridden Areas And Their Rehabilitation
viii) Lack Of Tourism
• Social Problems
v) Child Labour
vii) Poor Social Sector Including Health, Safe Drinking Water, Sanitation And Basic Infrastructure
viii) Women Are Not Empowered
ix) Human Rights Problem
xi) Sectarianism, Extremism, And Target Killing
xii) Absence Of Rule Of Law
The gap between the rich and the poor must be decreased by ensuring equal distribution of wealth.
- Dispensation of free and quick justice be ensured by strengthening judiciary.
- There is a sheer need to curb corruption at all levels. The institutions of NAB and FIA should be made more powerful to curb corruption
- The curriculum of schools need be reviewed so that children can receive scientific and secular education in their mother tongue. In addition, there is need to develop critical and creative thinking.
- Health care education and free health care needs be provided to all citizens.
- Provision of equal rights to all citizens especially women and minorities be ensured.
- Poverty alleviation programmers’ be initiated to reduce poverty and child labour.
- Population growth is controlled by spreading awareness about the advantages of small families among the masses through media.
- Energy crisis must be resolved on priority basis to revitalize the dying economy.
- New dams should be built and new methods of producing electricity should be utilized.
- Youth be equipped with technical education and new industries be set up to provide employment.
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