Sep 18 – Amid worsening economic conditions, Pakistan’s citizens continue to grapple with rampant inflation and rising unemployment, leaving basic necessities increasingly out of reach. Karachi resident Ashraf Khan voiced his frustration, attributing the economic hardships to the government’s poor decision-making.
“The current economic situation in Pakistan is severely impacting people, with incomes continuously falling,” said Khan. “While the government claims inflation rates are dropping, it’s essential to focus on the purchasing power of the people and the state of the job market.”
Khan emphasized that despite government claims, the general public is yet to see any relief from inflation. “The so-called reduction in inflation isn’t visible because the average person’s income keeps shrinking due to fewer job opportunities,” he added.
Khan also pointed out the government’s mismanagement, particularly the surge in non-productive expenditures. “Government spending has reached extreme levels, and we’ve failed to implement any significant developmental projects or attract foreign direct investment. This economic decline is the result of a long-standing pattern of poor decisions,” he said.
Corruption within Pakistan’s public sector remains a key issue, with little accountability for those involved, according to Khan. He further lamented the impact of Pakistan’s unstable political environment and terrorism, which have stalled or shut down developmental projects. “The rising protests across the country reflect the public’s growing frustration with the government,” he added.
Alongside inflation, Pakistan is facing an employment crisis, worsened by a growing youth population. According to a report from ARY News, the Planning Commission recently briefed the Senate Committee on Planning about these economic challenges, highlighting the lack of job opportunities and slow economic growth. Chairperson Quratul Ain raised concerns about the rapid population increase, urging for immediate population control measures.
Pakistan’s GDP growth currently stands at 3.5%, well below the 7% needed for sustained development, further complicating efforts to reverse the country’s economic decline.
Source: capitalfm
