Pakistan in the Grip of Economic Crisis

Three decades of extravagance and rescheduling of debts has put Pakistan under great economic in the year 2018 and 2019. Now the inflation has reached more than 40%. The petrol prices are sky rocketing and the dollar rate has been increased to it highest level. The rates of Electricity, gas and of other items are at an all time high. Never was Pakistan in such bad economic crisis as it is now. The export has gone down to its lowest and the imports have increased. The State Bank and Ministry of Finance are now controlled by IMF. No country except Greece has ever prospered with the help of IMF. This organization is motivated with Geopolitics and controlled by USA. The rules of IMF aim to reduce the per capita income; it will not allow the economy to grow. It will increase the poverty level supporting the rise of social evils which could break the fabric of society. It seems that hybrid war against Pakistan is at its highest level to break Pakistan or to bring Pakistan to its knees so that it may comply with USA program against China and to interrupt China Pakistan Economic Corridor. United States believes that if CPEC project comes into existence, China may come to the level of USA in Economic competition. USA is doing everything possible to contain China. USA has created a war like situation in Gulf, bringing Abraham Lincoln Aircraft Carrier, Cyber and Laser weapons to frighten and subdue Iran but perhaps the ultimate objective is to check CPEC. The other theory is that Trump will keep war like situation for more than one year to benefit to re-elect in US elections. Pakistan in this game has been sandwiched between USA and China. Pakistan has been pressurized through economic blows.

On the other side, Imran Khan Government lacks skill and wisdom. It could not satisfy the Business community nor could convince that Pakistan economic crisis is such that it touches the survival of the country. It has issued amnesty scheme to which the response is poor. The businessmen are not convinced that Imram Khan is capable enough to lead the country and help the country to come out from the crisis. The ministerial team is incapable to meet the huge challenge that Pakistan is facing on all fronts. Imran Khan has no experience to deal with crisis. He is taking U-turns. His appeal level has come at very low level. He may be an honest among many corrupts but that is not enough to convince countrymen to come out to help Imran. Those people who have wealth are leaving country as he and his ministers have frightened them with their statements. In 20 years’ time period 160 Billion dollars cash has flown from Pakistan. The country is divided among corrupts who are in large numbers and those who insist accountability. Accountability process is slow giving time to the Corrupt politicians to gather and charge their supporters against the government for the inflation as the price of everything has gone very high and people are very much disturbed. Everyone is paying indirect Tax and Imram Khan Government has been imposing more taxes to make itself unpopular. A man who earn Rs. 15000 a month and owns a motor cycle has to pay the same Tax, on the purchase of fuel, as that of wealthy man.

Public is in no mood to demonstrate but the tax increase could make them come out in the street. Further, Mr. Imran Khan has no guts to convince Bureaucracy to assist and run the government but has annoyed them by threatening them while having now option in their hand. ZA Bhutto did reshuffle the bureaucracy and controlled it but its grace and it spark was destroyed. The present bureaucracy is frightened and influenced by previous rulers so Imran Khan has remained without support except that of his burger party and hawkers. No Technical, skillful peoples’ support, no economics experts are supporting him. He lost the appeal and people are bewildered as suffering of people is multiplying every day and his government lacks the capability to bring out the country from economic crisis.

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