Pakistan being more IMF addicted regionally relying on borrowed growth

• News By : Web Desk
• 2021-10-22 10:03:25

Hyderabad: 22 October 2021: Pakistan has been aiming to be declared as the Asian Tiger since years. The title is not that easy to be achieved. The country being more IMF-addicted regionally relying on borrowed growth since its inception having barriers to entry and exit in the market with frequent spates of policy instability, lacking an easy access to financial institutions, hasty decision making being devoid of consultation led the country's GDP to grow by less than 3% currently. Most worryingly, yielding losses of 3 million tonnes in Wheat production and lagging behind in achieving targets of cotton production with difference of nearly 7 million bales further added vows to the existing miseries. Additionally, in the last two decades, with increase of imports by 50% and nearly Zero-growth in exports resulted the devaluation of rupee by 80% pushing dollar to touch the sky. Unsurprisingly, with tax to GDP ratio being 10% is not only low in the region but it also cannot feed the humungous population.
Therefore, firstly, it be better for the country's economic decision makers to focus on achieving targets feeling themselves to be earthly persons. Once the economic targets are achieved successfully, they'll automatically be declared as the celestial creatures.

Bakht Ali Jakhrani

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