Pakistan now a bigger basket case than even Bangladesh

[Maula Jatt]

Just came out of a 5.4, than 6 % growth years...
Like everyother country's journey we have to figure out our political shit show and get our house in order, an internet savvy youth with balls that doesn't take shit from no one and stands up to everyone- either the millitary or mullahs or politicians

UnLike the parents generation of 80s people are more more exposed, more open minded to some extent, more liberal in outlook, more politically aware and connected with the world
our urban youth is hope, a kid from Multan, Karachi, peshwar, queeta, Swat, Lahore is not an ignorant like his parents generation, it's a whole ballgame and mindset

I don't know when we will get political stability but we just need political stability nothing else , an army under control with a presidential democracy,- we have everything on god's green earth

a basket case is another ball game of challenges, it's an unfair statement

 

[langda khan]

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
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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.

Pakistan now a bigger basket case than even Bangladesh - Asia Times

The infelicitous phrase "international basket case" might better apply to Pakistan today than when it was applied to Bangladesh in the 1970s — Pakistan’s

asiatimes.com

@Imran Khan any suggestion?

This is very depressing. I think Pakistan population is not homogeneous. So lumping them under one umbrella does not sound terribly intelligent. It would be tempting to skim the surface and declare judgment that Pakistan as a region and people have never really ruled. That the seats of power of India were always the areas that are in modern India, and the people there. That Pakistan inherited the matle of Muslim rule that by and large was a culture of marauding, looting, killing and military subjugation. All of which on the face of it is the reality of modern Pakistan as well. One could be forgiven for shrugging one's shoulders and lamenting that Pakistanis are good foot soldiers, but generals and rulers and nation builders they are not. They lost all of that when they broke away and left the generals and rulers and nation builders behind.

But I am not like that.

 

[adelphi]

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.

They (Indians) did give away some mules to Bangladesh last month.

 

[Imran Khan]

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.

this is life sir nothing is permanent . countries see so many ups and downs ,our country is here . we are here to stay .