The report exposed PakistanImage Credit source: ChatGPT
The government and economic experts of the neighboring country Pakistan are claiming the country’s progress by juggling statistics, but the ground reality is clearly telling a different story. There is a lot of drum beating in the name of macroeconomic stability, but a recent report has exposed the condition of this poor country. According to the report, Pakistan is running fast barefoot on the path of becoming a ‘failing state’.
Speed of population, ‘brake’ of progress
The condition of Pakistan’s economy has become like that of a family where the number of people eating is increasing continuously but the income is not increasing at that pace. According to the report of Express Tribune, Pakistan’s average GDP growth rate in the last few years has been only 2.47 percent. On the contrary, the population there is increasing at the rate of 2.55 percent.
You can understand it like this that if the number of chapattis being made in the house is the same and the number of people eating is increasing, then it is obvious that someone will have to remain hungry. This slow pace of progress and the increasing burden of population is taking the standard of living of the common people into the abyss.
The gap like ‘black hole’ between rich and poor
Pakistan had not seen such deadly inflation in the last 50 years as is being seen now. The purchasing power of the common man there has now completely died down. The condition of urban areas is even worse. The most worrying thing is that the gap between the rich and the poor has now become so deep that it seems impossible to bridge it.
If we look at the figures, the average income of rich families is about Rs 1,46,920, while poor families have to spend the whole month on just Rs 42,412. Since 2018, the income of the rich has increased by more than 119 percent but the income of the poor has not increased in that proportion. That means the rich kept getting richer and the poor became dependent on every penny.
Youth have degrees but no skills
Pakistan has always been looking for the solution to all its problems in ‘China’. In the last decade, Chinese investment was widely publicized as a ‘game changer’ but this model has also proved to be a complete failure in delivering the expected results. At the same time, the condition of the youth, who are considered the future of the country, is also bad.
Pakistan’s education system has become a degree distributing machine. The syllabus there is from the era of Baba Adam and there is a severe lack of training. The result is that the youth have degrees but do not have the ‘skills’ or skills to get a job in the market. This has created a huge army of unemployed in the country.
Pakistan is rapidly moving on the path of destruction
Experts say that now the water level has gone above the head. The report warns that if Pakistan does not adopt supply-side economic policies and cut down on government spending, the situation will go from bad to worse.