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The Quest For Economic Progress

The Quest For Economic Progress

Since its inception in 1947, Pakistan has fluctuated from one crisis to another. Indeed, its very existence
has been a painful one, punctuated by periods of superficial progress and on the surface the emergence as a
meaningful player on the international scene. Nothing exemplifies this more than the Pakistan’s economic
legacy. Created over 50 years ago Pakistan has failed to develop its economy on a similar trajectory to that
of its contemporary peers. The result of this failure has been that tens of millions of Pakistanis today
languish in unprecedented levels of poverty, poor health and illiteracy. The country is plagued by
corruption and saddled with debt to both internal and external creditors at overwhelming rates of interest.
Far from improving, the situation is steadily deteriorating, weakening Pakistan further and leaving it
exposed to manipulative foreign entities such as the IMF and other international institutions and nations.
The very real effects of this today include load shedding of electricity in major cities for over 14 hours at a
time, a near default on financial obligations and harrowing cases of human tragedy ranging from suicide to
selling offspring due to crushing poverty and sheer desperation.

 
The Quest For Economic Progress

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