Islamabad : No country can progress by encouraging fundamentalists and giving shelter to terrorism. Pakistan has become a living example of this in the whole world. Progress is far away, at present the Government of Pakistan is scrambling to save the country from downfall. But how did Pakistan reach this pit? Political instability and wrong policies of constantly changing governments have brought the Islamic country to the brink of ruin. Presently Pakistan has become a warring country in itself without any outside interference.
Asian Light reports that Pakistan, which has fostered and sheltered extremism and extremism in the name of Jihad, rarely paid attention to long-term economic development. His focus was more on giving up war or proxy war with his neighbor than on the development of his people. At present, the clouds of bankruptcy are hovering over Pakistan. The Shehbaz government is seeking a $7 billion bailout package from the IMF to prevent the country from slipping into a ‘do or die’ situation.
worse days to come
IMF delegation is on a visit to Pakistan but with the economic package, hard times are fast looming for the people. According to the report, to get this loan, the Shahbaz government will have to take many anti-people decisions like drastic cut in subsidy and increase in revenue. The report cites a statement issued by rating agency Moody’s which said that ‘the country’s ability to repay its debt is the weakest among sovereign countries’.
33 billion dollars to be repaid in 2023
Quoting a United Nations Development Program (UNDP) report, Asian Light reports that Pakistan is facing a debt of over $250 billion. It is more than Pakistan’s carrying capacity. In the year 2023, he will have to repay the debt of $ 33 billion. Pakistan Rupee’s continuous fall, reaching a record low of 267.48 per dollar, is making the crisis worse.
Why so much in India-Pakistan?
After partition in 1947, India and Pakistan started their journey towards development together. But today there is a difference of land and sky between the two countries. England, which once ruled India, has now lagged behind India in terms of economy. India became the fifth largest economy in the world because it strengthened agriculture, technology, science, education, medicine, security and infrastructure. Even today India is taking along its neighbors like Nepal, Bhutan, Sri Lanka. But Pakistan sowed the seeds of terrorism instead of agriculture and was always in the mood to backstab its neighbors. This is the reason that today there is a difference of land and sky between the two countries.