30 Million Face Poverty Amid Economic Collapse in Pakistan
In a stark and alarming development, approximately 30 million people in Pakistan have been thrust into poverty amid what experts and opposition leaders are calling the worst economic collapse in Pakistan in decades. The Pakistan Tehreek-e-Insaf (PTI) party has launched a scathing attack on the current government, accusing it of widespread mismanagement and policy failures that have crippled the country’s economic backbone.
PTI Blames Government for Economic Collapse in Pakistan
The PTI, led by former Prime Minister Imran Khan, has directly pointed fingers at the ruling coalition for the deteriorating economic situation. According to PTI leaders, the economic collapse in Pakistan is not a result of external forces alone but largely due to flawed governance, poor fiscal planning, and lack of vision.
Shibli Faraz, a senior PTI member, stated, “The scale of poverty we are witnessing is unprecedented. Families are struggling for basic necessities, and there is no roadmap for recovery.” The party highlighted that the working class, especially daily wage earners, are bearing the brunt of spiraling inflation and skyrocketing utility bills.
Rising Emigration a Symptom of Deepening Crisis
Another troubling indicator of the economic collapse in Pakistan is the significant rise in emigration. In the past year alone, more than 1.1 million Pakistanis have left the country in search of better opportunities abroad. Many of these are skilled professionals such as doctors, engineers, and IT experts, seeking stability and financial security.
Analysts argue that this brain drain will have long-term consequences on Pakistan’s ability to rebuild its economy. “When educated youth and professionals flee, it leaves a void that cannot be filled easily,” said Dr. Hassan Javed, an economist at a Lahore-based think tank.
Inflation, Unemployment, and a Weakening Rupee
The indicators of economic collapse in Pakistan are not limited to poverty and emigration. Inflation remains at an all-time high, with food and fuel prices doubling in the last two years. The national currency continues to slide against the US dollar, putting additional pressure on imports and the general cost of living.
Unemployment, particularly among youth, has reached critical levels. Many university graduates are unable to find jobs, leading to growing disillusionment and mental health issues. For the rural population, the situation is even more dire, with failing crops, poor access to healthcare, and insufficient infrastructure compounding their struggles.
Government Response: A Divided House
Despite the severity of the economic collapse in Pakistan, the ruling government appears divided and indecisive. While some officials blame global conditions such as the COVID-19 pandemic and the Russia-Ukraine war for economic woes, others admit to lapses in domestic policy.
Prime Minister Shehbaz Sharif has appealed for international assistance and claimed that new IMF talks are underway. However, critics argue that borrowing more money without structural reform is merely delaying the inevitable.
A Nation on the Brink
The economic collapse in Pakistan has gone beyond statistics. It is visible in the despair of families selling household items to buy food, in the children dropping out of school to earn a few rupees, and in the professionals waiting in long queues at passport offices.
What was once a country with rising potential now stands at a crossroads. With political instability, economic turmoil, and a restless youth population, the future remains uncertain unless urgent, meaningful reforms are introduced.
The Road Ahead: Can Recovery Happen?
Experts believe that recovery from the economic collapse in Pakistan is possible, but it requires more than temporary fixes. There needs to be a national economic policy focused on sustainability, transparency, and inclusivity. Investment in education, job creation, and local industry must be prioritized. Most importantly, political consensus and good governance are crucial for any long-term change.
As the people of Pakistan continue to suffer, the question remains—will their leaders act before it’s too late?
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