Pakistan’s economy is almost on emergency mode; nobody’s worried!
During Jan-Oct FY08, imports of food stood near to $3.5 billion, fertiliser $823 million and fuel, a gigantic $8.6 billion. With the global oil and food price rise, and growing political instability, Pakistan might just be on the road to an economic disaster. And the warning signs are already on alarm mode. There has been a drastic reduction in fertiliser production as well as wheat produce. Add to this the over 17% oil budget rise, which happened solely because of the global oil price increase. An economic collapse is not a rare phenomenon if one sees developing nations, the most recent being Zimbabwe. Pakistan seems to be mirroring almost all the issues that plagued Zimbabwe. Sadly, all that remains now is for the fire alarm to blow!
During Jan-Oct FY08, imports of food stood near to $3.5 billion, fertiliser $823 million and fuel, a gigantic $8.6 billion. With the global oil and food price rise, and growing political instability, Pakistan might just be on the road to an economic disaster. And the warning signs are already on alarm mode. There has been a drastic reduction in fertiliser production as well as wheat produce. Add to this the over 17% oil budget rise, which happened solely because of the global oil price increase. An economic collapse is not a rare phenomenon if one sees developing nations, the most recent being Zimbabwe. Pakistan seems to be mirroring almost all the issues that plagued Zimbabwe. Sadly, all that remains now is for the fire alarm to blow!
Source : IIPM Editorial, 2012.
An Initiative of IIPM, Malay Chaudhuri
and Arindam Chaudhuri (Renowned Management Guru and Economist).
and Arindam Chaudhuri (Renowned Management Guru and Economist).
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