Political Warfare in Pakistan — Reserves stand at 10 Billion Dollars to Survive
High time for Pakistan to contemplate political warfare and inflation, which is likely to rise by 20%; Qaiser Ahmed Shaikh, member of parliament N-League on 14th May 2022, showed a significant concern.
Political Warfare
Political warfare has inflamed the remnants of Peace and Justice in Pakistan. The people have sacrificed their whole lives to strengthen the country. Some worked as farmers, others strengthened industrialization, and those who couldn’t find work went outside the country and supported the economy. Also, the establishment proved to be the most loyal and more assertive side of Pakistan.
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Despite being a small country compared to neighboring countries, Pakistan stood gracefully. Unfortunately, Pakistan got a bad hit from Political Leadership. Corrupt leadership resulted in Money Laundering to weaken the already indebted country and divided Nation.
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Amid the political crisis, the economic stability of Pakistan is also at stake. A newly seated government lacks the ability to control the prices of the commodities. On the other hand, the rupee value has declined with every passing moment. Pakistan has left with no more than 10 billion dollar reserves.
Poor Leadership
Moving toward the Real Answer, “The Greed to sustain on Seat,”- Government cannot afford to raise the prices such as Petroleum to maintain the voters. With total debts and liabilities of Rs.50.5 trillion, Pakistan cannot further bear the loss in reserves. The economy of Pakistan is on the verge of collapse. It’s high time to show accountability towards the country.
Pakistan cannot repay the foreign loans of 8638 million dollars due to the crisis. Thus, the external sector vulnerability is multiplied to further weaken the country’s stability.
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Although exports of the country have increased, significant imports such as Petroleum is undeniable with unnecessary subsidy. Also, after announcing non-voting rights to foreign Pakistanis, remittances are expected to decline. It is like Pakistan has been traveling in a circle with no end. The same economic and political situation since its’ inception. None leadership is ready to take notice and work on the country’s financial stability.
Lack of Confidence of Investors and Lenders
Investors and lenders are not confident enough to lend money. They have no idea of Pakistan’s economic and political condition. There is a huge responsibility that lies on the institutions of Pakistan, such as the Supreme Court of Pakistan, to take immediate action to maintain law and order in the country.
Immediately, Pakistan needs a solution to counter the economic and political crisis. There must be fair elections to ease the current political situation. Spontaneously, it will answer all the confusing questions of investors and lenders. Such steps will find a way to revive the economic crisis before its collapse.
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