Why is Pakistan finding it difficult to stabilize its economy?
Question
Why is Pakistan finding it difficult to stabilize its economy?
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Answer ( 1 )
Lack of iron will to restore the economy is the only reason.
Pakistan got it self in debt trap by posing India as fierce enemy projecting a negative image of India to its people and going for arms race. Focusing on trade relationship would had benefited a lot.
Pakstan should look inside the country for its economic growth.
1-Give support to agriculture. Give tax relief to farmers.
2-Tax Policies – Only 1% people pay the tax. so make rules strict and transparent.
3-Industrial growth – industrial sector accounts for about 24% of GDP. Cotton and cotton-based products account for 61% of export earnings of Pakistan. The country has immense reserves of various minerals and natural resources.
4-Youth power – the enormous talented human resource is getting wasted due to lack of educational infrastructure.
5-Trade Partner – Focus on developing trade relationship with India. India has huge market potential for Pakistan products which will be inexpensive due to cheap transportation.