Pakistan’s economy is facing significant challenges, reflecting widespread financial hardship. Poverty in Pakistan was recorded by the World Bank at 39.3% using the lower-middle-income poverty rate of $3.2 per day in the fiscal year 2020-21. Major problems in Pakistan’s economy include persistent fiscal and current account deficits, protectionist trade policies, and the increasing burden of foreign loans. The lack of political stability and the high public expenditure required to maintain law and order are critical constraints on economic growth. In Pakistan, around 24% of the population is classified as poor. In 2023, the economy suffered further, with inflation reaching 30.77%. The government of Pakistan must take decisive action to address these issues.

NASEEB PEERAL,

Turbat.