It is imperative that the newly elected government will be confronted with numerous challenges. Presently, Pakistan is facing multi dimensional economic challenges of different intensity. Rising inflation, increasing unemployment, depleted foreign exchange reserves, growing external debt, diminishing GDP & exports, poor taxation system and severe financial burden of national institutes (PSM, PIA, & Pak Railway) are main obstacles in way of economic development. Imran Khan-led government should take concrete steps and establish panel of economic specialists to tackle the economic challenges faced by Pakistan.
Energy Crisis - another major challenge to upcoming government. A shortfall of 7000MW is currently prevalent in whole country. Due to this, unscheduled load shedding on one hand is adversely affecting masses, while on the other hand it has resulted into shifting of industrial units neighbouring countries i.e. Bangladesh, India & Srilanka. To fill the gap, the new government should increase the power generation capacity of Pakistan through immediate installation of more hydro-electric plants, solar parks, wind & coal power plants.
Water Crisis - the next big challenge. According to IMF report, Pakistan is ranked third amongst the countries facing intense water crisis and might run dry by 2025. The major cause of water shortage is construction of dams on Western rivers (Indus, Jhelum and Chenab) by India in contravention to Indus Basin Treaty (1960). To save the country, the government needs to take vigorous steps to construct small and large dams to store water and plead the case against India.
FAFT Grey List - another challenge for the newly elected government. Despite diplomatic efforts, Pakistan is placed on FATF grey list and argued that Pakistan had failed to take actions against terror financing. New government should act against terror financing & money laundering and get Pakistan out of the FATF grey list.
Isolation and hostility with immediate neighbours is hindering progress. India has initiated negative and adversary propaganda against Pakistan on all fronts, Pakistan have suffered immensely in the last couple of years. Long standing Kashmir Issue remains a bone of contention between two South Asian big players i.e. India & Pakistan, which have adversely impacted the overall geo-dynamics of the SAARC region.
New government should initiate confidence-building measures to bring India for the bilateral table talks, keeping the differences aside, so that the issues can be resolved and several policies can formed for promotion trade, tourism, sports, & entertainment industry which could reap in benefit for the both countries.
Expectedly, the upcoming newly elected government will introduce & implement sustainable long term policies to counter all major challenges thereby bringing Pakistan on path of prosperity.
Karachi, July 31.