• UGI USER
  • Jan 21, 2023
  • 24 Likes
  • 0 Comments

Pakistan’s economy South Asia’s weakest

News: According to Islam Khabar, Pakistan has the poorest economy in South Asia, and lifting the nation out of poverty will require a monumental effort.

 

  • Pakistan’s economic collapse in the midst of natural calamities, food shortages, and poverty is making headlines.
  • In July of last year, Pakistan experienced unheard-of flooding that left massive tracts of cropland in ruins.
  • The nation’s foreign exchange reserves, which fell to a new low of USD 4.6 billion, are only sufficient to cover import payments for three weeks.
  • According to observers, Pakistan needs $33 billion in assistance.
  • The world pledged support back then and continues to do so. Richer countries have stepped forward with generous offers of close to $10 billion after being moved by the UN Secretary-intervention.
  • General’s Friends like Saudi Arabia and the UAE have contributed four billion dollars this month because they recognise the need.
  • The flood waters haven’t been present for six months. However, an on-land traveller (SF Aizaduddin, Dawn January 11, 2023) reports that they are still submerged and show no signs of new farming or water management. However, that is understandable to a certain extent. But there is a severe food scarcity now that it has been so long.
  • Imagine a country that possesses some of the most fertile, well-irrigated wheat-growing land in the world is in need of flour but has the funds to import it.
  • According to market estimates, a bag of 20 kg flour that was once priced at PKR 1200 is now PKR 3,00.
  • Since six months ago, there haven’t been any flood waters. But according to an on-land traveller (SF Aizaduddin, Dawn January 11, 2023) they are still underwater and don’t exhibit any new farming or water management practises. That is, nevertheless, somewhat understandable. However, given how long it has been, there is a significant food shortage.
  • Consider a nation that has access to some of the world’s most productive, well-irrigated wheat-growing land, and that nation needs flour but has the resources to import it. A bag of 20 kg flour that was formerly priced at PKR 1200 is currently PKR 3, according to market estimates