What are the major issues of Pakistan economy and what will be there solutions. Pakistan is country which is being blessed by all the factors which can make the country grow and make it as one of the developed countries on the globe but still Pakistan is unable to sustain and get stable as they should have done. The main reason for this drawback is the economic problems which the country is going through which have made the conditions even worse for the people living in here, resulting in unemployment, civil disobedience and ultimately chaos. Let us have an over view of few crucial economic problems and their possible solutions.
Pakistan Economy Issues / Problems & Solutions
The major issue of Pakistan Economy is the difference between the import and export of the state. It is very crucial for the stability of the economy of any state that they should export more and import less which should bring a positive balance of trade but Pakistan is going through negative balance of payments that is their imports are higher than their exports. So for that purpose Pakistan has to emphasize more on export and reduce imports so that the economy of the state gets stable and strong.
Pakistan is an agro based country which means that the economy of the state heavily depends upon the agriculture and farming, so more and more focus should be made on the promotion of agriculture in the country as it will have two positive impacts one is that the country’s main strength will grow and on the other hand the country will be able to increase the exports as the agricultural products are the major constituent of the total exports of Pakistan.
The curse of terrorism has just put a full stop on the foreign investment in the country; no investors from abroad are willing to invest in Pakistan due to security risk of their investment. So Solution of Pakistan Economy Problems is that Pakistan should bring stability in their security systems and should ensure the safety of the foreigner’s investment by eliminating the terrorism and other security threats. This will encourage the foreign investment in the country so new projects will be established and employments will be generated that will increase the per capita income of the country.
The power and energy crisis has also hindered the economic growth of Pakistan as insufficient energy has just crated a destructive condition of Pakistan. These energy crisis includes Electricity load shedding which have shut several industries and projects, high prices of fuel and CNG as well as natural gas load shedding has made a dead lock to economy. For that purpose Pakistan has to find other sources of power generation which should include the nuclear energy, solar power energy, coal energy and the wind energy which can cope up with this horrible situation and shifting to other sources will reduce the burden from these limited sources and will put Pakistan back on the path of success and economic growth.