Pakistan’s Economic Challenges

Pakistan’s economy has faced significant hurdles in recent years, including

• High Inflation: Inflation peaked at 38% in mid-2023, severely impacting the cost of living.

• Rising Debt: Public debt reached Rs72.1 trillion by June 2024, with a debt-to-GDP ratio of 67.5%.

• Industrial Decline: Key sectors like textiles and manufacturing have contracted, leading to job losses and reduced exports.

• Dependence on External Support: The economy has relied heavily on IMF bailouts and remittances, rather than sustainable internal growth.