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Seniors please check outine of economic crisis of Paksitan
Topic : Economic crisis of Pakistan
Outine: 1. Introduction 2. A look back to Pakistan's economy 3. Economic challenges of Pakistan A. Less save more consume B. Less export more import C. Pakistan's share in the world trade is shrinking D. Energy and water crisis E. Balance of payment crisis F. Devaluation of money G. Low Foreign direct investment (FDI) H. Informal ( Shadow) economy I. Low tax to gross domestic ratio K. Pressing micro- macro economic issue L. Population pressure 4. Causes of economic uncertainty A. Political instability B. Corruption C. Over budgetary allocation D. Mismanagement and under utilization of resources E. Lack of consistent policies F. Wealth concentration G. Flawed taxation system H. Untrained labour I. Low capital formation J. Badly lag in the social indicator K. War on terror expense 5. Pragmatic steps to improve Pakistan's economy A. Charter of economy B. Change in national Psyche and mindset C. Building up human capital D. Use of technology E. Young labour force Governance, devolution and decentralization G. Improved source of external funding H. Revisiting stabilization policies 1. Monetary policy 2. Fiscal policy I. Revisiting structural reforms 1. Fiscal reforms 2. Tax reforms J. Miscellaneous 1. Gdp rate should be 25 percent 2. Serious control over expense 3. Maintain price and exchange stability 4. Reduce cost of doing business 5. Exploitation of Shadow economy K. New market exploration L. Tourism and inland water transportation revenue generator for government M. CPEC as a harbinger of economic stability 6. Conclusion Sent from my E5051 using Tapatalk |
#2
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Hello thank you for sharing your outline. I've compiled my thoughts on it below. I hope you find it helpful:
●try to use the actual economic terms for the measures and problems you've included. For example your point 3.A should be low saving-to-GDP ratio. ●Point 3.B and 3.E are mainly the same thing. Balance of payments is a more broad term (includes other transactions besides physical exports and imports) so if you want to discuss these seperately, I'd advice you to have one point-balance of payments and then create sub-headings for it e.g. i) Falling export ratio and prices ii) increasing imports in the past few years for consumption goods iii)The changing dynamics of world trade iv) crippling reliance on imported energy and fuel etc etc. So you can see here that most of the economic crisis you've mentioned, aren't exactly one single problem. They are many underlying problems that are causing the overall issue to emerge. ● For point H. An informal sector isn't a bad thing. It helps to keep people employed. It includes everyone who is not in the official channel i.e doesn't keep money in registered banks or are not registered/in the government record. So basically normal fruit sellers on the corner or the impromptu barber shops at the train station are part of this sector as well but I think you mean the black market which is dangerous to the economy. So I suggest rephrasing the point. ●Point K is redundant- the points you've mentioned before K are all mico and macro indicators of a crisis. ●There are other challenges to the economy as well for example our current debt burden, our dwindling foreign exchange reserves (this one is mostly caused by the balance of payment crisis but is an issue on its own as well), the inexcusable amount of people living below the poverty line, rapid urbanization etc etc ●Your point 4. Is pretty good but J. Needs to be rephrased. Other causes include our over-dependence on aid and loans especially over the past few decades, the population explosion (it is a root cause of most problems and is a problem in itself as well), low employment opportunities, brain drain, lack of a structured banking system (this is a problem because without one the rural areas have a hard time getting credit from official channels and the overall private investment in the country remains low), inability to diversify exports, etc etc ●point 5 is fairly comprehensive. You can add points about about export-promotion policies (or import-substitution of you think that is better), international relations and international image promotion (attract the foreign investors), cooperation with multi-lateral organisations (like SCO) and multi-national companies for development projects, invest in renewable energy (happening under Cpec but we need to take initiatives of our own), human-centered developmemt planning, rural development (help the farmers they are the reason the economy is still running and we have ANY exports in the first place) etc etc. ● I also suggest you should have a seperate point on WHY this is a problem. Some people might argue that economic upcycles and downcycles are completely normal and part of the business cycle so what makes our crisis, a crisis? There won't be a "natural" upswing after these trying times without concentrated human effort and policies. Unless we realise that we have a problem on our hands, one which can only worsen at this point, we can't move ahead. Overall you've done a very good job. I just wanted to point out a few things and I hope you found them helpful |
The Following User Says Thank You to aishalam For This Useful Post: | ||
Rajpoot786786 (Tuesday, February 12, 2019) |
#3
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-----There is only one good, knowledge, and one evil, ignorance---- Socrates |
#4
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Economic Crisis in Pakistan: Present Challenges, Causes, Solutions
1. Introduction: In the 21ST Century, the economy is taken as a ‘Religion’. It is the blood in the veins of the nation-state, vitality in the human muscles, bases of brutal wars & a reason for governments to rule. Pakistan has painfully experienced rising poverty and sinking economy; despite the world’s best canal system, profitable geostrategic position, and unexplored resources. Pakistan’s economy is in a downward spiral. Inflation is at 7%, foreign reserves are dwindling, the government is unable to pay its loans and is in the danger of defaulting on its own debts. 2. Present Challenges (i) Closed Economy- More imports, fewer exports, unproductive consumption-driven economy (ii) High Foreign, Domestic Circular Debts & Balance of Payment Crisis (iii) High Inflation and Discount Rates (iv) Huge Trade Deficit (v) Severe Energy & Water Crisis (vi) Low Foreign Direct Investment FDI (vii) Deindustrialization and Low Agriculture Yields (viii) Corruption, Money Laundering, & Informal Parallel Black Economy (ix) Low Tax-to-GDP Ratio (x) Population Explosion (xi) CPEC & Chinese Economic Dumping 3. Causes of Economic Crisis in Pakistan (i) Political Instability (ii) Non-conducive Environment for Business (iii) Regional Conflicts & War on Terror (iv) Economic Isolation from Neighboring Countries (v) Inconsistent Policies of Government (vi) Sharp Hike in Global Oil & Gas Prices (vii) Flawed Taxation System (viii) Wealth Concentration (ix) Poor HDI Indicators (x) Unskilled Labors 4. Solutions for Economic Crisis (i) Tax & Structural Reforms (ii) Privatization of Loss-Making State Entities (iii) Curb Imports and Increase Exports (iv) Utilizing Geostrategic Location for the Betterment of Economy (CPEC, TAPI,IPI, CASA) (v) Opening Borders for Trade with Neighboring Countries (vi) Promoting Startup Culture in the IT industry (vii) Microfinancing for Small and Medium Enterprises (viii) Rapid Construction of Special Economic Zones (ix) Skill Development of Youth Population/ Human Resource Development (x) Tourism Promotion via Open Visa Policies 5. Conclusion |
#5
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I have one suggestion and one question.
Suggestion: You might want to define economic crises before coming to economic crises of Pakistan. Question: In solution which of your points are addressing the causes (i), (iii), (vi), (viii)? Overall your outline is impressive, clear and to the point. |
#6
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Cause (i) Political Instability, Solution= (i) Tax & Structural Reforms (institutional reforms so that Legislature, judiciary, executive, military mind their own business), (iii) Regional Conflicts & War on Terror = (iv) Utilizing Geostrategic Location for the Betterment of Economy (CPEC, TAPI,IPI, CASA) & (v) Opening Borders for Trade with Neighboring Countries (vi) Sharp Hike in Global Oil & Gas Prices = Not addressed (viii) Wealth Concentration = (vii) Microfinancing for Small and Medium Enterprises I think I should've arranged it in a manner that each solution corresponds to its respective cause. |
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