Zeeshan Waqas, vit au Pakistan
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YES, of course…. But not unless stringent measures are taken to improve the current deplorable Economic situation of the country.
Following statistics give a snapshot of Pakistan’s economy.
- Les Current account deficit of the country in 2016–17 increased to more than 12 billion US Dollars.
- Les déficit commercial surged to more than 33 milliards $ in 2016–17. ( Imports around $53 billion , while exports of only $ 20 billion)
- Envois de fonds à l'étranger also showed decline in 2016–17 and remained $ 19 milliards.
- Dette extérieure of Pakistan surged to 75 milliards $ in the first quarter of 2017. ( almost 25% of Pakistan’s federal budget goes in the repayment of principal as well as interest on debt)
- L'investissement étranger direct in the country is around 2 milliards $ seulement.
- Foreign reserves of the country are around 19 milliards $ dollars at in August 2017.
Without foreign aid and loans Pakistan cannot survive at the moment.
Qu'est-ce qui doit être fait?
- Assurer continuity in Democracy in Pakistan. A comparison between Democracy Index(Indice de démocratie - Wikipedia) and World Prosperity Index (Legatum Prosperity Index 2016 :: Legatum Prosperity Index 2016) shows that those countries are more prosperous that have flaw-lass democracy in them.
- Documenting the economy. (only salaried class in Pakistan pays tax. Property dealers, lawyers, doctors, traders, business men don’t pay any taxes. Documentation of the economy would bring them in the tax-net of the country)
- Apporter rupee to its actual value. Rupee is over-valued around 20% at the moment. This has contributed significantly to the surge of imports in the country.
- introduction of incentives to increase the exports of Pakistan.
- Ending the energy-crisis and shifting to cheap energy sources. ( Pakistan can produce more than 100,000 MW through its water and wind resources only)
- Tapping the unused resources of Pakistan. ( Pakistan has a lot of potential in tourism, horticulture, geographical position)
- Shifting to the policy to export promotion instead of import substitution.
- Improving relations with India and stabilizing Afghanistan. This would reduce our defense budget and improve the security situation in Pakistan. Pakistan can import cheap goods from India and can also export items to her. Thus reducing the trade deficit. Improvement in security situation would attract more FDI.
- Making sure CPEC gets completed and Pakistan could reap full advantage of it. This would require providing security to CPEC and improving internal security condition within Pakistan. Moreover, instead of turning a blind eye to the repayment of loans given by China in this regard, Pakistan should not only try to give contracts to the firms that make the lowest bid, but also make a road map regarding payment of the loans.
- Mettre en œuvre le system of Zakat and ushar in its true letter and spirit.
- Formulating and implementing effective laws to curb corruption. There are laws already, but they either have loop holes on the implementing authority itself is corrupt. A top-down approach should be used to eradicate this menace from the country.
- Modernizing the education sector of the country for ensuring that our future generations would be skilled enough to make sure a continuous improvement in the economy.
- Providing enough skills to labor in Pakistan and sending them abroad ( Foreign remittances would shoot by doing so).
- Ending religious bigotry in Pakistan by bringing Madrissa reforms and monitoring religious institutes.