Pak on the path to economic bankruptcy
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| Editorial comment
It would not be wrong if it is said that Pak is reaping the fruits of its action of continuously troubling India through its home-grown jihadi terrorism. |
Islamabad (Pakistan) – Poverty-stricken Pakistan has been unsuccessful in solving the issues of inflation, corruption and its mountainous debt. There also has been an enormous increase in terrorist activities. The direction and plight of all Pakistan’s issue from August 2018, when Imran Khan assumed the PM’s office, have become more complicated. Pakistan’s debt to China has increased to Rs 1.38 lakh crore. Hence, Pakistan has had to lease some of its territories to China. This puts a question mark on Pakistan’s sovereignty.
The extent of Pakistan’s inflation
Devaluation of Pakistan’s Rupee (PKR)
- 1 USD = 182 PKR (In 2018 it was 123 PKR)
- Inflation : Historic increase of 15%
- Price of food grains, petroleum products : 10% increase
- 2.5 times increase in foreign debt : Presently, it is Rs 6.47 lakh crore
- Edible oil prices have increased 4 times : The cost of edible oil in 2018 was Rs 125. Now it costs Rs 550.
- Unemployment rate : The rate of unemployment in Pakistan has reached 4.65%. In 2018, Imran Khan had promised 1 crore jobs to the people; but hardly 50,000 people got jobs.
- The agreement between the Pakistan Government and ‘Tehrik-E-Taliban Pakistan’ a terrorist organisation failed
- The Pakistani Government had signed an agreement with terrorists after 2019. In November 2021, the group killed 12 Pakistani soldiers despite an agreement with this notorious Tehreek-e-Taliban Pakistan (TTP).