Regardless of all the efforts Pakistani government is putting on to make economy and financial structure of Pakistan strong, the analysts still predicted that the country is at high risk of going bankrupt due to ongoing challenges.
Prime Minister Shahbaz Shareef led the Pakistan Democrative Movement PDM agreed on all the rules of International Monetary Fund (IMF) for the early conduct of next deal in order to manage the economy of Pakistan and increasing Inflation in country.
Earlier Shahbaz Shareef said that Pakistan’s ruking democrative party is ready to sacrifice its political career to serve the country. By accepting the IMFs rules and regulation for finalising the fund deal country have to go under strict budgets and inflation but this save the country from future crises.
According to report by economy and financial experts 9000 different containers are stucked at Pakistani seaports, causing the disruption in supply of essential items. Inflation is also marked an increase of 30% and funds are running continously low. If this situation continues it will make the country go bankrupt.
Most of the imports are unable to free their containers from ports due to shortage of dollars and increased tax rates. This phenomena is also having huge impact on import and export of Pakistan.
The State Bank of Pakistan has only USD 4 billion which is barely enough for three more weeks while the urgent need to clear containers from ports. Most of the businesses in Pakistan are at high risk of closure due to supply chain break. Imported products are stucked at ports and shortage of products is automatically causing increase in prices.
Hospitals, pharmacies are also running short of basic medicines and there will be expected shortage of wheat, maize, cotton and daily usage products in country. According to the new report, former Prime Minister Senator Mustafa Nawaz Khokhar also said that Pakistan is already morally and politically bankrupt.
Crises in various sectors
The education sector of Pakistan is also facing serious crises in terms of education quality and modern digital education. Many students left the school in past two years due to lack of fee and low quality of education.
During a political party conference, the former minister said that Political parties are ill in communicating with pubic, there should be proper addressing of issues rather than being busy in irrelevant issues like Panama and Toshakhana case.
He added that the situation is going worse day by day and young population is no more interested in living in Pakistan. According to the recent survey report more than 60% of young population wants to leave Pakistan as soon as possible and many other already left.
Read more | How Can Pakistan’s Economic Woes Get Solved?
This situation is an emergency alarm for government and all the political parties to take proper actions and save country from going bankrupt. Our ancestors played a very important role and gave many sacrifices to get this Islamic Republic of Pakistan.
Everyone should play their role in making Pakistan a happy and economically strong country with brave and educated nation