Pakistans economy is in a downward spiral. Inflation rate is reaching at its peak, foreign reserves are falling, and the government is in danger of defaulting on its foreign debt. A spike in global food prices has hit Pakistanis especially hard, and the global financial crisis only threatens to exacerbate Pakistans economic woes.
Our country economy is under its terrible crisis. The environment is affected by intensification of war on terror and deepening of the global financial crisis which penetrated into domestic economy through the route of substantial decline in Pakistans exports and a visible slowdown in foreign direct inflows.
Pakistan’s creditworthiness rating is the second-worst among nations ranked by Standard and Poor’s, superior only to that of the Seychelles.
Asif Ali Zardari felt compelled to offer public assurances that “Pakistan is not going bankrupt.” One of the immediate causes is Political instability, Suicide attacks, Soaring oil prices, Food crisis oil prices, low agriculture yield, Food Crisis, Energy Crisis, Inflation, Deceleration of growth in manufacturing, fiscal deficit, poor tax system, unilateral growth, China factor. The cheaper Chinese products destroyed our industry thus created unemployment, more burdens on economy. Illiterate labor: is less productive, Defense budge, Regional conflict, Overpopulation, IMF loans.
Our mother land is the achievement of millions of sacrifices. Therefore, it is prime duty of every individual, the society, and the state to uphold the constructive norms in order to get honor in the community of nations.
Pakistan is not a poor country, but a poorly managed country; there is a need for restoring confidence of people who have potential to achieve.
KIRAN TAHIR
Lahore
