Imran Khan's misplaced priorities batters Pakistan's economy
Feb 02, 2022
Islamabad [Pakistan], February 2 : Pakistan Prime Minister Imran Khan's faulty priorities have compounded problems for the country's economy which is facing issues related to inflation and unemployment.
To make things worse, instead of addressing the aforementioned issues, the federal government continues to spend its entire energies in charging opponents on corruption. Only recently they fired their accountability head for being soft, as analyzed by News International.
On the one hand, everyone - be it politician, bureaucrat or business owner - is complaining about how difficult it has become to work, while on the other hand, the prime minister who lives in his own fantasy world wants to make it tougher for everyone by insisting on a system which is based on persecution, according to News International.
Meanwhile, the state of affairs for the middle- and lower-income population of Pakistan has become more and more difficult. The number of people wanting and waiting to be given free meals at roadside dhabas has visibly increased.
Further, the rise in prices has been so sharp that it has now become extremely difficult for people to make both ends meet, according to News International.
Opposition parties in Pakistan have raised a number of issues such as the hounding of businesses by the National Accountability Bureau unavailability of natural gas to industry, ill-planning for Liquefied Natural Gas supplies, indecision on support prices for staple crops, relations with the central bank and overall focus on one sector of the economy: real estate.
As all the indicators of the economy are on a downward slope, the focus of the government has been to excessively tax goods, which is being done to counter the current account deficit, as analyzed by News International.
A recent example of Pakistan government incompetence can be seen in how the issuance of the sukuk by the government took place in the international market.
Since October last year, the Pakistani rupee has depreciated by nearly five per cent. That is what one calls double jeopardy as reported by News International.
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