Who is responsible for Pakistan Economic Crisis
The Fuel we import and the price in the international market increases so we are facing an increase in Electric bills and Gas bill. This is Done by previous Gov #PMLN they made an agreement with foreign companies for 15 years contract, from last 50 years all previous gov invest in the energy sector for electricity production and due to this they didn't build a single dam and now we are facing that issue. #PPP #PMLN from 1990 been 3,3 times in federal gov and all the way in the provincial gov since now. (PMLN since 2018). So When our #EODB was at the rank of the 60s in 2007 and we only have 6 Billion Dollars of foreign loans and our GDP in 2007 was 154 Billion Dollars so since that the 2 Gov PPP and PMLN made this loan #$93,531,752,991 (93 Billion Dollars) they got about 87 billion dollars in just 10 years and the export will reach was 300 billion dollars, means while we get about 1333% more loan but the export increase ratio is just twice what we had 2007, and not only this they made huge import on loans due to this the current account deficit increases to around 22 Billion Dollars (-), there were only around 9 billion dollars in the reserve bank and if Khan didn't go for IMF or Loans or Use this reserve than there is a possibility of instability of state wherein neighbor was in War, and all the world powerful agencies were there with our enemies and friends both, were kept eye on us and waiting for such acts so he went for loans and to pay loans and to run state they get loan, and due to this it reaches 122 billion in 2020 and then Mr.Khan made some progress and the current account surplus up to1 billion by decreasing the Import and let the rupees to flow in market and dur to this the dollars rate increases in Pakistan, which the previous gov hold for 5 years by investing billions of dollars in market to make dollar rate around 100. by which the deficit increases and the loan but the local prices didn't increases but they was on minimum level. This means to say the previous gov use patches to run this state and flow instead of changing the whole scenario to put effort into increasing export they more focus on Corruption and protecting their corrupted money and leaders. Now, this Gov made control of the basic issue but due to some agreements and loans many things are still beyond this gov, this gov issue is Bad Governance they do not have control over local markets they involvement of PPP and PMLN in both business community and gov sources many of those gov officers do not work properly and create a mess for this government now in Punjab Buzdar is unable to detect this the basic problems of all these issues and PM Imran Khan too. In Sindh, they know everything but they made prices high only for political gain according to the article, the province has declared a state, only Fuel electricity everything controlled by Provincial Government. Some Interesting Facts that this government made are that they increase the export to 20 billion dollars in a year which never did by any previous gov they are planning to make it 30 billion dollars till March. The IT Sector for the first time made up to 2 billion dollars or export and they are planning to make it 5 billion till 2023, in the industrial sector, construction sector and many more are improved now. But it will take time to be best because the biggest problems are Loans and Energy and this will take time till 2035 if Pakistan improves its Exports and pays loans and resolve energy issue by building Dams as this government is making the 10 biggest Dam project till 2030. All the small issues those thrones are taken out by this government and the speed of progress is increased a bit, hope we rise and shine.
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