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Pakistan now a bigger basket case than even Bangladesh

Black_cats

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Pakistan now a bigger basket case than even Bangladesh​

Devil’s brew of economic crisis, political chaos and natural disaster is arguably edging Pakistan toward failed state status

By FEISEL KHANNOVEMBER 29, 2022
Print
Pakistan-Floods-Monsoon.jpg
Pakistan suffered from unprecedented flooding this monsoon season. Image: Twitter / Conde Naste / Getty

The infelicitous phrase “international basket case” might better apply to Pakistan today than when it was applied to Bangladesh in the 1970s — Pakistan’s former eastern half. Bangladesh has surpassed Pakistan economically and in quality of life.

There is even talk of Bangladesh graduating to upper middle-income country status. Quite a reversal of fortune as no one talks about Pakistan that way.

Pakistani economists lament that Bangladesh overtook Pakistan in just a couple of decades. Pakistan’s remittance earnings are greater than its stagnating export earnings, and both combined can’t pay for its imports.

As long as the unholy economic trinity of real estate development, retail business and the sugarcane barons remain outside the tax net, Pakistan will not be able to generate enough fiscal revenue to pay its bills, much less improve its socio-economic welfare indicators.

Pakistan has serious long-term structural economic problems, and the costs for this year’s devastating floods will be in the tens of billions of dollars. Suffering from mammoth floods every 10-12 years, which are becoming worse and more frequent due to climate change, Pakistan is one of the world’s most water-stressed countries.

Rebuilding the destroyed infrastructure will be impossible for a country that is already heavily indebted, desperate for an IMF bailout and begging for financial assistance from the world community. Inflation was high even before the floods hit and is now about 25% and climbing.

Miftah Ismail, who negotiated the US$1.17 billion temporary IMF bailout, was Pakistan’s fourth finance minister in five years. Ismail resigned and was replaced by ex-finance minister Ishaq Dar.

Dar has ruled out a loan default, although he has asked for $27 billion in bilateral-debt rescheduling, presumably to ensure the repayment of sukuk (Islamic bonds) due in December.

The ability of its economy to manufacture and export high-value-added items — essential for sustaining growth in real worker wages and living standards — is lower than comparable countries.

Further complicating the political situation is former prime minister Imran Khan who was removed in a vote of no confidence in April 2022. Still, Khan appears to be gaining in popularity daily and is planning mass rallies to destabilize the current government and force early elections.

General Bajwa, the head of Pakistan’s army and a particular target of Imran Khan’s, has retired, but his replacement, General Asim Munir, is also likely to be in Khan’s cross-hairs. This will further exacerbate political tensions and increase the likelihood of domestic unrest.

Pakistan is a country that is unstable at the best of times. It now confronts a veritable devil’s brew of natural disaster, economic crisis and political instability.

Feisal Khan is in the Economics Department at Hobart and William Smith Colleges, New York.


@Imran Khan any suggestion?
 

Trailer23

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Yeah..., you can f#*k off to your hell-hole of a Forum -
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They have a very popular Thread running on Pakistan - maybe you can make a contribution there.

How come you never post articles about your festival where your family cover themselves in Cow sh!t, or your mom drinking Cow p!ss & all the other cool stuff that takes place at home?

#
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Catalystic

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Pakistan is a security state due to its geographical location. Hence the biggest threats its been facing forever, from internal as well as external enemies.
Our brothers in new Bangladesh do not deal with security challenges and wars on daily basis. They don’t have millions of refugees to keep and not not have a shithole like afghanistan nextdoor. They have it easier. They’re in a location that’s not important geopolitically.

Pakistan has not reached its destiny as yet. But slowly it is going towards that.
Allama iqbal’s famous poetry:

“Liya jaiga kaam tujh se dunia ki imamat ka”
How we all Pakistanis wish to see that in our lifetime…..pata nai wo waqt kab aiga. Here’s hoping its sooner rather than later, inshAllah
 

CriticalThinker02

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Pakistan is a security state due to its geographical location. Hence the biggest threats its been facing forever, from internal as well as external enemies.
Our brothers in new Bangladesh do not deal with security challenges and wars on daily basis. They don’t have millions of refugees to keep and not not have a shithole like afghanistan nextdoor. They have it easier. They’re in a location that’s not important geopolitically.

Pakistan has not reached its destiny as yet. But slowly it is going towards that.
Allama iqbal’s famous poetry:

“Liya jaiga kaam tujh se dunia ki imamat ka”
How we all Pakistanis wish to see that in our lifetime…..pata nai wo waqt kab aiga. Here’s hoping its sooner rather than later, inshAllah
As long as the military hijacks and continues to keep the country as hostage so that the upcoming generals can continue to loot the country for their own personal gains, Pakistan won't even survive forget about prosperity.

The Quaid was wrong, there is one power on this earth that can undo Pakistan and that power is the Pakistan Military, they were the ones who created the likes of Nawaz Sharifs and Zardaris and continues to prompt them up for their own selfish gains, if Pakistan falls it will solely be the fault of the Pakistan Military and no one elses.
 

epebble

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Pakistan is a security state due to its geographical location. Hence the biggest threats its been facing forever, from internal as well as external enemies.
Our brothers in new Bangladesh do not deal with security challenges and wars on daily basis. They don’t have millions of refugees to keep and not not have a shithole like afghanistan nextdoor. They have it easier. They’re in a location that’s not important geopolitically.

Pakistan has not reached its destiny as yet. But slowly it is going towards that.
Allama iqbal’s famous poetry:

“Liya jaiga kaam tujh se dunia ki imamat ka”
How we all Pakistanis wish to see that in our lifetime…..pata nai wo waqt kab aiga. Here’s hoping its sooner rather than later, inshAllah
All Pakistan Governments and many Pakistanis like Afghanistan to be in the current state. The wise Prime Minister, Imran Khan was very happy that the previous government has been overthrown and Taliban rule has been restored in Afghanistan. So, to say Afghanistan is a problem is akin to a person urinating on his feet and complaining he is wet.
 

peagle

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Pakistan now a bigger basket case than even Bangladesh​

Devil’s brew of economic crisis, political chaos and natural disaster is arguably edging Pakistan toward failed state status

By FEISEL KHANNOVEMBER 29, 2022
Print
Pakistan-Floods-Monsoon.jpg
Pakistan suffered from unprecedented flooding this monsoon season. Image: Twitter / Conde Naste / Getty

The infelicitous phrase “international basket case” might better apply to Pakistan today than when it was applied to Bangladesh in the 1970s — Pakistan’s former eastern half. Bangladesh has surpassed Pakistan economically and in quality of life.

There is even talk of Bangladesh graduating to upper middle-income country status. Quite a reversal of fortune as no one talks about Pakistan that way.

Pakistani economists lament that Bangladesh overtook Pakistan in just a couple of decades. Pakistan’s remittance earnings are greater than its stagnating export earnings, and both combined can’t pay for its imports.

As long as the unholy economic trinity of real estate development, retail business and the sugarcane barons remain outside the tax net, Pakistan will not be able to generate enough fiscal revenue to pay its bills, much less improve its socio-economic welfare indicators.

Pakistan has serious long-term structural economic problems, and the costs for this year’s devastating floods will be in the tens of billions of dollars. Suffering from mammoth floods every 10-12 years, which are becoming worse and more frequent due to climate change, Pakistan is one of the world’s most water-stressed countries.

Rebuilding the destroyed infrastructure will be impossible for a country that is already heavily indebted, desperate for an IMF bailout and begging for financial assistance from the world community. Inflation was high even before the floods hit and is now about 25% and climbing.

Miftah Ismail, who negotiated the US$1.17 billion temporary IMF bailout, was Pakistan’s fourth finance minister in five years. Ismail resigned and was replaced by ex-finance minister Ishaq Dar.

Dar has ruled out a loan default, although he has asked for $27 billion in bilateral-debt rescheduling, presumably to ensure the repayment of sukuk (Islamic bonds) due in December.

The ability of its economy to manufacture and export high-value-added items — essential for sustaining growth in real worker wages and living standards — is lower than comparable countries.

Further complicating the political situation is former prime minister Imran Khan who was removed in a vote of no confidence in April 2022. Still, Khan appears to be gaining in popularity daily and is planning mass rallies to destabilize the current government and force early elections.

General Bajwa, the head of Pakistan’s army and a particular target of Imran Khan’s, has retired, but his replacement, General Asim Munir, is also likely to be in Khan’s cross-hairs. This will further exacerbate political tensions and increase the likelihood of domestic unrest.

Pakistan is a country that is unstable at the best of times. It now confronts a veritable devil’s brew of natural disaster, economic crisis and political instability.

Feisal Khan is in the Economics Department at Hobart and William Smith Colleges, New York.


@Imran Khan any suggestion?

Bunch of idiots peddling in fantasies, nothing more.

Pakistan has been in a failed state category as far back as I can remember, yet it continues ever strongly. Momentary setbacks are one thing, especially those created by external forces, but it's the long term trajectory that matters.

These articles will never stop, but these stupid writers will be long dead and buried, before anything happens to Pakistan.
 

Turingsage

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Lets not forget Pakistan kept East Pakistan as a colony to exploit. All industry were meant only for the West Pakistan. Pakistan did not give a shit about Bengalis , their language , their culture and would cede no political power.
It swallowed up $67 billion in USA aid without sharing with the Eastern wing.
Bangladesh had to fight a civil war that killed a million then had to start from year zero. It faced sessionist insurgencies had to deal with Burma and the Rohinga refugees . A Burma run by another military dictatorship hostile to Bangladesh.
Pakistan was the progenitor of the Taliban. Pakistan was very very proud of the Taliban and now claim are bad neighbours.
Pakistan killed of all intelligencia of Bangladesh in 71.
University professors, teachers, Artists, writers, journalists , were all executed.
They truly started from Zero and compare the 2 now.
 

bluesky

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@Imran Khan any suggestion?
Why ask @Imran Khan? Did he cause floods in Pakistan? You must be a real nut to open a thread on the present distress Pakistan faces today because of the recent floods.

Better we should look at the pictures at hand in your Cheronabadi Bangladesh. Watch a few BD pictures, then.


 

epebble

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Bunch of idiots peddling in fantasies, nothing more.

Pakistan has been in a failed state category as far back as I can remember, yet it continues ever strongly. Momentary setbacks are one thing, especially those created by external forces, but it's the long term trajectory that matters.

These articles will never stop, but these stupid writers will be long dead and buried, before anything happens to Pakistan.
The author is certainly not infallible. But he is a Professor of Economics. This is his CV


Since he is making his arguments based on sound facts, his concerns are not as farfetched as they may seem.

BTW, the picture above is from 2010. So, even though it is not from 2022 devastation, it rises the fear that such devastating floods are becoming frequent.
 

Windjammer

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Lets not forget Pakistan kept East Pakistan as a colony to exploit. All industry were meant only for the West Pakistan. Pakistan did not give a shit about Bengalis , their language , their culture and would cede no political power.
It swallowed up $67 billion in USA aid without sharing with the Eastern wing.
Bangladesh had to fight a civil war that killed a million then had to start from year zero. It faced sessionist insurgencies had to deal with Burma and the Rohinga refugees . A Burma run by another military dictatorship hostile to Bangladesh.
Pakistan was the progenitor of the Taliban. Pakistan was very very proud of the Taliban and now claim are bad neighbours.
Pakistan killed of all intelligencia of Bangladesh in 71.
University professors, teachers, Artists, writers, journalists , were all executed.
They truly started from Zero and compare the 2 now.
Not to mention, Indians who wear the crown for being number one shoplifters in the world didn't spare poor Bangladeshis by even ripping out and stealing lamp posts from streets of Dacca and then transporting them back to India. I guess old habbits die hard.
 

EasyNow

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Pakistan is a security state due to its geographical location. Hence the biggest threats its been facing forever, from internal as well as external enemies.
Our brothers in new Bangladesh do not deal with security challenges and wars on daily basis. They don’t have millions of refugees to keep and not not have a shithole like afghanistan nextdoor. They have it easier. They’re in a location that’s not important geopolitically.

Pakistan has not reached its destiny as yet. But slowly it is going towards that.
Allama iqbal’s famous poetry:

“Liya jaiga kaam tujh se dunia ki imamat ka”
How we all Pakistanis wish to see that in our lifetime…..pata nai wo waqt kab aiga. Here’s hoping its sooner rather than later, inshAllah

Dont take this wrong but Pakistan is the greatest example of wasted talent and opportunity on Earth today.

There is a strange mix of high ego and low self esteem that is very puzzling.

I mean you guys achieved nuclear deterrence, but then got embroiled in endless local squabbles.

You stand up to nuclear India all day long, but cower to the local mullah every week. You are blessed with raw materials, central location, space and population but constantly consider yourself under threat and incapable.

I mean do you really think BD had it easier than Pakistan? BD a disaster prone, politically unstable, overpopulated, underdeveloped nation who no one has taken seriously for decades?

That is the low self esteem - Pakistan should have smashed the records in the last 40 years. But you've gotten used to feeling so insecure that you have made it a self-fulfilling prophecy.

Any other people in Asia, given charge of a space like Pakistan would've worked wonders.
 
Last edited:

mudas777

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Pakistan now a bigger basket case than even Bangladesh​

Devil’s brew of economic crisis, political chaos and natural disaster is arguably edging Pakistan toward failed state status

By FEISEL KHANNOVEMBER 29, 2022
Print
Pakistan-Floods-Monsoon.jpg
Pakistan suffered from unprecedented flooding this monsoon season. Image: Twitter / Conde Naste / Getty

The infelicitous phrase “international basket case” might better apply to Pakistan today than when it was applied to Bangladesh in the 1970s — Pakistan’s former eastern half. Bangladesh has surpassed Pakistan economically and in quality of life.

There is even talk of Bangladesh graduating to upper middle-income country status. Quite a reversal of fortune as no one talks about Pakistan that way.

Pakistani economists lament that Bangladesh overtook Pakistan in just a couple of decades. Pakistan’s remittance earnings are greater than its stagnating export earnings, and both combined can’t pay for its imports.

As long as the unholy economic trinity of real estate development, retail business and the sugarcane barons remain outside the tax net, Pakistan will not be able to generate enough fiscal revenue to pay its bills, much less improve its socio-economic welfare indicators.

Pakistan has serious long-term structural economic problems, and the costs for this year’s devastating floods will be in the tens of billions of dollars. Suffering from mammoth floods every 10-12 years, which are becoming worse and more frequent due to climate change, Pakistan is one of the world’s most water-stressed countries.

Rebuilding the destroyed infrastructure will be impossible for a country that is already heavily indebted, desperate for an IMF bailout and begging for financial assistance from the world community. Inflation was high even before the floods hit and is now about 25% and climbing.

Miftah Ismail, who negotiated the US$1.17 billion temporary IMF bailout, was Pakistan’s fourth finance minister in five years. Ismail resigned and was replaced by ex-finance minister Ishaq Dar.

Dar has ruled out a loan default, although he has asked for $27 billion in bilateral-debt rescheduling, presumably to ensure the repayment of sukuk (Islamic bonds) due in December.

The ability of its economy to manufacture and export high-value-added items — essential for sustaining growth in real worker wages and living standards — is lower than comparable countries.

Further complicating the political situation is former prime minister Imran Khan who was removed in a vote of no confidence in April 2022. Still, Khan appears to be gaining in popularity daily and is planning mass rallies to destabilize the current government and force early elections.

General Bajwa, the head of Pakistan’s army and a particular target of Imran Khan’s, has retired, but his replacement, General Asim Munir, is also likely to be in Khan’s cross-hairs. This will further exacerbate political tensions and increase the likelihood of domestic unrest.

Pakistan is a country that is unstable at the best of times. It now confronts a veritable devil’s brew of natural disaster, economic crisis and political instability.

Feisal Khan is in the Economics Department at Hobart and William Smith Colleges, New York.


@Imran Khan any suggestion?
Pakistan as a nation needs a revolution where Sadam like people can grab hold of the country reins and any one raises head gets chopped off that's the only thing we need.
There are faults in our economics, education, people selfish attitude and if that was not bad enough our own army is holding country to the ransom. What hope a nation can have in that case when we inflict damage to ourselves each and every day instead of focusing on improving our lives and world is moving ahead of us.
 

Tom-tom

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As long as the military hijacks and continues to keep the country as hostage so that the upcoming generals can continue to loot the country for their own personal gains, Pakistan won't even survive forget about prosperity.

The Quaid was wrong, there is one power on this earth that can undo Pakistan and that power is the Pakistan Military, they were the ones who created the likes of Nawaz Sharifs and Zardaris and continues to prompt them up for their own selfish gains, if Pakistan falls it will solely be the fault of the Pakistan Military and


Solid thinking, pak had their golden opportunity with imran khan, he needed military full support. Perhaps even support in being finessed in international diplomacy skills. He was your man, but your elite inbreds even tried to shoot him.

no one elses.


Pakistan is a security state due to its geographical location. Hence the biggest threats its been facing forever, from internal as well as external enemies.
Our brothers in new Bangladesh do not deal with security challenges and wars on daily basis. They don’t have millions of refugees to keep and not not have a shithole like afghanistan nextdoor. They have it easier. They’re in a location that’s not important geopolitically.

Pakistan has not reached its destiny as yet. But slowly it is going towards that.
Allama iqbal’s famous poetry:

“Liya jaiga kaam tujh se dunia ki imamat ka”
How we all Pakistanis wish to see that in our lifetime…..pata nai wo waqt kab aiga. Here’s hoping its sooner rather than later, inshAllah


Your a brainless sheep, with this mentality pak will go done.
 

Imran Khan

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Pakistan now a bigger basket case than even Bangladesh​

Devil’s brew of economic crisis, political chaos and natural disaster is arguably edging Pakistan toward failed state status

By FEISEL KHANNOVEMBER 29, 2022
Print
Pakistan-Floods-Monsoon.jpg
Pakistan suffered from unprecedented flooding this monsoon season. Image: Twitter / Conde Naste / Getty

The infelicitous phrase “international basket case” might better apply to Pakistan today than when it was applied to Bangladesh in the 1970s — Pakistan’s former eastern half. Bangladesh has surpassed Pakistan economically and in quality of life.

There is even talk of Bangladesh graduating to upper middle-income country status. Quite a reversal of fortune as no one talks about Pakistan that way.

Pakistani economists lament that Bangladesh overtook Pakistan in just a couple of decades. Pakistan’s remittance earnings are greater than its stagnating export earnings, and both combined can’t pay for its imports.

As long as the unholy economic trinity of real estate development, retail business and the sugarcane barons remain outside the tax net, Pakistan will not be able to generate enough fiscal revenue to pay its bills, much less improve its socio-economic welfare indicators.

Pakistan has serious long-term structural economic problems, and the costs for this year’s devastating floods will be in the tens of billions of dollars. Suffering from mammoth floods every 10-12 years, which are becoming worse and more frequent due to climate change, Pakistan is one of the world’s most water-stressed countries.

Rebuilding the destroyed infrastructure will be impossible for a country that is already heavily indebted, desperate for an IMF bailout and begging for financial assistance from the world community. Inflation was high even before the floods hit and is now about 25% and climbing.

Miftah Ismail, who negotiated the US$1.17 billion temporary IMF bailout, was Pakistan’s fourth finance minister in five years. Ismail resigned and was replaced by ex-finance minister Ishaq Dar.

Dar has ruled out a loan default, although he has asked for $27 billion in bilateral-debt rescheduling, presumably to ensure the repayment of sukuk (Islamic bonds) due in December.

The ability of its economy to manufacture and export high-value-added items — essential for sustaining growth in real worker wages and living standards — is lower than comparable countries.

Further complicating the political situation is former prime minister Imran Khan who was removed in a vote of no confidence in April 2022. Still, Khan appears to be gaining in popularity daily and is planning mass rallies to destabilize the current government and force early elections.

General Bajwa, the head of Pakistan’s army and a particular target of Imran Khan’s, has retired, but his replacement, General Asim Munir, is also likely to be in Khan’s cross-hairs. This will further exacerbate political tensions and increase the likelihood of domestic unrest.

Pakistan is a country that is unstable at the best of times. It now confronts a veritable devil’s brew of natural disaster, economic crisis and political instability.

Feisal Khan is in the Economics Department at Hobart and William Smith Colleges, New York.


@Imran Khan any suggestion?
they will come out of this . this is life sir
 

N.Siddiqui

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Just eight months ago Pakistan GDP was grwoing at 6.00% and in the previous year it was 5.6%. Industrial sector LSM was growing at 10.4%.

All the economic indicators were positive and towards an upward trajectory.

So when Pakistan sorts out the current political mess, the country will again be poised for growth. The current situation is dire.
 

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