We are living in 21st Century the century of economy and technology . The most important thing for any country in this era is its economy and how to make it stronger . Strong economy is very important for any country to survive in today’s time and every country is pushing hard for economic growth . Economy plays a vital role for countries clout nowadays be it diplomatic relations, strategic interests and all. Leading Economies of today are United States, China, Japan, Germany,India,United Kingdom,France,Brazil etc. All these countries mentioned above have a good clout Internationally all because of economy they are called ‘Economic Superpowers’ . As i am going to talk about Pakistan today its at the 24th Spot with GDP of 283.7 Billion$ a good figure in terms of numbers then there’s other side too at present the country’s external debit is at 83 Billion$ that’s about 1/3 of GDP and it’s continuously rising every month This year they have imported around 55 Billion$ worth of products and they have trade deficit around 32 Billion$. In addition to this they have to pay around 8-10 Billion$ this year as loan repayment to various banks or institutions. Pakistan at this time is totally dependent on IMF and China for economic support but are they going to do for free or in kindness Meh No there’s no kindness in institutions or countries when it comes to money . Pakistan is currently in economic crisis and they are looking for more Loans for Loan repayment and its going to be very very tough as they are going through crisis and the record is not good enough and in addition to this they have nothing to put as mortgage all their valuable assets are already mortgage like Radio Stations, Airports and various state buildings. Their new project with help of China the much hyped CPEC ‘China Pakistan Economic Corridor’ of around 46 Billion$ is a LOAN not investment people who know working of China knows why they invested such a huge sum of money in Pakistan and that too on interest ranging from 6-8 % or more than that as no document is public on this and china will take around 10-13 % or more fixed returns so it sums up to 18% or further from all the projects under CPEC now you would be wondering why only China is investing in Pakistan ? A good question by the way reasons are several main could be firms thinking they won’t get good returns in Pakistan or Corruption is very high in Pakistan. These reason lead to no investment in Pakistan by any other country or firms. Countries exports are going down day by day businesses are running to nearby business favourable countries for ex- Bangladesh, Maldives etc. Businessmen are being targeted and taxed heavily in Pakistan which leads to a deep fear among investors and eventually leads to less investment in Pakistan by it’s own people. The Current blot of Corruption on Political Leaders like PANAMA and various scams in Pakistan is making it more difficult and growing extremism is a addition in it economy is very important for pakistan to stay as a stable country as they have to lay Budget next year in march they should be worried very worried and do every bit to save Pakistan if the situation continues Pakistan could be Bankrupt in just few years or Months you can say.
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