sir the whole problem happened in 2008 when PPPP retrospectively employed everyone that was dismissed in 1998..and who voted for that amendment?
both PML PPP
having said
china will not take steel mills, Pakistan cant fix(due to lack of money)..so i expect it to linger on for next 2-3 years till our financial state improves..but i am hopeful that it will be fixed as long as it remains on agenda..itsnot rocket science..the govt simply cant spare a penny when its in tight IMF guided reform package
remeber we went t IMF to get money, and we were put in this situation by previous govt by its artificial lower infaltion and rupee manipulation..it started in 2016 and everyone saw it and cried but nobody listened
i am confident that the rupee would have been 120-130ish today had the corrective measures been taken in 2016..the resultant low productivity and higher loans simply pushed it to where it is now..
and you can see all regional countries like India and Bangladesh also approx devalued their currencies to same extent
developing countries need high saving and for that it need to keep inflation and devaluation to certain extent otherwise its going to become less competitive..
THERE IS NO SHORTCUT TO DEVELOPMENT