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Reasons of Economic Crisis in Pakistan

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Reasons of Economic Crisis in Pakistan

The economic condition of the country is going down and down because of internal as well as external factors. The government is unable to cope with this grave situation. On one side , inflation is rising while on the other FDI has reached nearly zero mark. Pakistan, as an Islamic state has been under great economic, social, political and energy stress.

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Here below we have mentioned some Reasons of Economic Crisis in Pakistan in Urdu language.
Pakistan's Economic DownturnReasons of Pakistan's Economic DownfallReasons of Pakistan's Economic Downturn The reasons of economic crisis in pakistan are following.

Power Crisis:
Power plays a pivotal role in the economic development of the country. Unfortunately, Pakistan is facing acute gas, oil and electricity shortage. For energy needs we rely 50% on gas, 29% on oil, 11%on hydal power whereas 7.6% on coal. Despite of having large coal reserves and immense hydal resources, the electricity shortage has crossed 8500MKI. This is one of the major reasons of economic crisis in Pakistan.
During the tenure PM Gillani, the government added 300MKI of electricity in national grid (as claimed by PPP goverment). But the people of Pakistan are still languishing due to long power outages.
The labour community is the worst effected class as most of the factories and mills have been closed due to power shortage. This phenomenon has deepen the economic crisis.

Deteriorating Image of the Country:
Pakistan has an image problem therefore most of the countries don’t like to invest in our country. The investors from abroad seems reluctant in opening their businesses here. Several multinational companies have left the country because of some grave issues like terrorism, corruption, political instability, administrative instability, bad law and order situation, illiteracy etc. There are 20 multinational companies which are working in Pakistan while other countries have thousands of MNC’s, helping those countries to make economic progress.

Corruption:
From the top to the bottom, the corrupt practices are rampant in our country . In 2011, Pakistan was the 42nd most corrupt country in the list of 183 states. Courts, health departments, education institutions, security departments and services departments, all are involved in corruption to the nose. This is why the economy of the country does not progress as the people are unable to get justice in the government sector. Also transparent and just society progress quickly.

Inept Leaders:
The affairs of the country are run by efficient and honest leadership. But Pakistan is unfortunate in this case. There is an acute shortage of honest and hard-working leaders in the country, who are patriot. The economy of Pakistan can be improved if pro-investors policies are implemented in letter and spirit and foreign investors are invited to take the benefit of the growing economy.
In the light of above discussion the crux of the matter is that Pakistan leadership must show some honesty in improving the economy of the country . Otherwise poverty and starvation will cause more deaths and suicides.
Already more than 33% of our population is languishing under the poverty line and more people will slide under this line.

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