By Manahil Fatima Mughal
If we see the current situation of Pakistan then doubtfully, political instability has caused great havoc around the globe. It glots a state socially, politically and most importantly, economically. Similarly, Pakistan has forced several issues because of political instability.
The 2022-2023 Pakistan economic crisis is an ongoing economic crisis and part of 2023-2023 political unrest in Pakistan. It has caused severe economic challenges for months due to which good gas and oil prices has risen.As of December 2022, Pakistan holds external debt and liabilities of $126.3 billion. Nearly, 77% of this debt, amounting to $97.5 billion is directly owned by the government of Pakistan to various creditors ; an additional $ 7.9 billion is owned by government_ controlled public sector enterprises to multilateral creditors.
But now, the economy has weakened in FY 2023( July 2022 – June 2023) to date. Exports and remitences fell 10% year one year in July -March, and the Purchasing Manager’s Index been bogged down is Contractionary territory.
According to the Asian Development outlook (ADO) April 2023, ADB’s flagship economic report, Pakistan’s grass domestic product (GDP) growth is projected to slow 0.6% in FY2023 from 6% last fiscal year as the economy struggles to recover.
Pakistani economy is currently trapped in low growth,high inflation and unemployment,falling investment, excessive fiscal deficits, and a deteriorating external balance position.
For improving economical system of Pakistan government should work on unemployment. It should give the help opportunities to young generation ,who work for humanity. Because due to unemployment poverty cause and made crimes in country .
If we see the political status of Pakistan, Officially a federal Islamic republic Pakistan had a long history of alternating periods of electoral democracy and authoritarian military government. Military presents include General Ayub Khan in 1960’s, General Yahya Khan, General Zia -ul- Haq in the 1980’s, and General Pervaiz Musharaf from 1999.
The current political situation in Pakistan has gotten way worse than before. Having been hijacked, the tenure of Imran khan’s regime from 2018-2023 is more likely to be prolonged by other PDM( Pakistan Democratic Movement) parties, which will cause rampant catastrophe in the country.
The 2022-2023 Pakistan political unrest or 2022-2023 Pakistani political crises established after the ousting of forme Prime Minister Imran Khan through a no confidence motion in April 2022.
In 2022, the Pakistani political crises began when the opposition joined hands and submitted a no-confidence motion against Imran khan’s government in the national assembly.
