The economy of a country depends upon the natural resources of its state. The production of goods makes the economy of the state rise and financial stability. The exports are done with neighboring countries to have the economic status up to the mark. The caretakers or the rulers are responsible for this. The neighboring countries invest if the financial stability is well and if they have their benefit. laying down the infrastructure helps in building a strong economy of a country, but here the scenario seems different. Mostly the leaders are designated to specific positions for their own intrust.
Our state imports are more than exports we don’t have many reserves left to run, so taking a loan from IMF and Arab states has become our tradition to run the state. We are an underdeveloped country comparing ourselves with those nations who got independent later from us makes us feel regret that we could not do something which could have improved us financially. The corruption done in different projects lets us down and no progress at all.
The governance change brings instability to the state. The flood last year created a great loss in the production of agriculture and still there is water the reserves are less so different products are imported from countries. The dollar prices could not be stable in the country in which the price of items increases. As a third-world country, we mostly rely on taking loans from the county and running the state. The natural resources which we utilize are exporting agricultural products to different nations and importing the same product at an expensive cost these policies have ruined the economic condition of the state.
Unemployment is also a main reason. Government launches free courses for students to learn them and become freelancers to earn some dollars which might make the economy stable but the transaction methods are insecure and expensive. The production of energy is that much expensive that it costs a lot which cants not be fulfilled the needs of the country which might cause a slow development in the economy. The energy production sector should be focused more.
Terrorism is also one of the main reasons for the downfall of the economy as the activities of terrorism increases the launch of new projects causing fear, spending money on armed forces, and not having developing project caused the economy of Pakistan to downfall. Terrorism gives a negative image of Pakistan globally. Pakistan is very beautiful and promoting tourism can help our economy to grow. The PSL leagues got stopped due to terrorism which also created a downfall in the economy of Pakistan. Neighboring enemies also don’t want us to progress for which they also have involvement in terrorist activities.
There is a lack of quality education, the rich family persons study at a well-known educational institute that has to provide valuable quality education to students and expose them to the real world. The institute provides them a better opportunity to grow compared to a middle-class student who studies at an average institute where not much focus is given to students to grow their skills which later leads to unemployment when finding a job. Markets demands are different institution teaches an outdated course which leads to loss.
States have 22 crores of the population but only a few pay the tax rest only live a luxurious life without paying the tax the developing country has grown where there is a rule of law. The system of corruption has made us ruined. Everyone here only this of himself not about this nation we are lacking behind the nation with whom we try to compete. The well-educated one leaves here because of unemployment and serves in some other country. who is responsible for this nation we have to think about this nation seriously else we will have the same scenario as Sri Lanka.