Karachi : In Past , to some extent we neglected major sectors in need of investment in the country. This is quite encouraging that now foreign direct investments started pouring in, in the sectors of mining, agricultural , energy and information technology but with that we have to essentially invite spending’s on human development, reason being healthcare services , education, acquisitions of skills, public transport and clean water is lacking. For example, a man going to work by changing 3 buses cannot be an efficient and healthy worker said ateeq ur rehman (economic & financial analyst).
Our Economic growth is the biggest challenge of all times which is now being dominated by young and growing population. The young population of the country wants Economic prosperity and security, which is only possible by having a track, frame work, strategy and rule based system, which is to some extent is missing.
If we go into the deep of situation we notice that poverty is on rise and middle class is thinning whereas it is not the same in the countries of the region. Factually speaking they have taken care of it by giving importance by easing the financial burdens of a common man and substituting the poverty into prosperity added ateeq.
World Bank currently reports that we are facing acute financial crisis surpassing 10% of GDP thus developing fiscal pressures on us. Just to note we are in the list of Burundi, Fiji, Gambia, Ghana, Malavi, Mozambique, Togo, Zambia, Kenya, etc. by World Bank / IDA (International Development Association)in need of funds, therefore we have to go for repeated borrowing and continues debt servicing paying actual plus interest on regular basis. Our debt exceeded trillions of rupees. Thus facing the huge debt burden and it is unmanageable.
He saif that, to come out of all these problems, the country is in dire need of private sector led investments ensuring Pakistan in a position to run a sound current account , create a favorable balance of payment and FDI to be use in infrastructure development and build reserves.
