Why is Pakistan on the way to bankruptcy?
Why is Pakistan in this state?
Is Pakistan's military a pawn of America?
Will Pakistan break up?
Due to the shortage of foreign currency, Pakistan is currently facing a crisis. However, even during the time of the pandemic, Pakistan's economy was in good condition. In the 2020/21 fiscal year, Pakistan's GDP growth rate was higher than that of India. Just a year ago, all indicators of Pakistan's economy were positive.
Since the removal of Imran Khan's government through a vote of no confidence in Parliament last year, Pakistan's economy has been on a downward trend. In order to remove Imran Khan from the position of Prime Minister, 20 members of his party were bought with money by American agents, compromising Pakistan's military and opposition party. In the subsequent parliamentary elections, they voted against Imran Khan. Due to the influence of some powerful American agents, no government in Pakistan's 75-year history has been able to remain in power until the completion of its term.
In August 2018, Imran Khan came to power in Pakistan. Creating an entirely new political party, he faced a huge challenge. Within two years of coming to power, Pakistan's total GDP decreased from $357 billion to $300 billion.
The devaluation of Pakistan's currency was one of the reasons for the decline in its GDP. Due to the anti-American stance of Imran Khan's government on the Afghan issue, Western countries withdrew their support from Pakistani businesses and various international investment institutions stopped investing in Pakistan's market. As a result, Pakistan's currency lost nearly 50% of its value.
Despite facing difficult circumstances in the first two years of Imran Khan's government, Pakistan's economy started to turn around due to remittances from abroad and Chinese investments. Although the GDP of Pakistan decreased from $357 billion to $300 billion in the first two years, in the following two years, Pakistan's GDP increased again to $376 billion.
Under Imran Khan's administration, Pakistan's reserves increased from $6 billion to $21 billion. Pakistan's remittances increased from $15 billion to $28 billion. During the post-pandemic period, when Pakistan formulated its independent foreign policy, where the main focus of Pakistan's foreign policy was to prioritize its own interests over the interests of the West.
It is due to Pakistan's foreign policy that America continues to plan to remove Imran Khan from power. Later, before the Ukraine conflict, Prime Minister Imran Khan visited Russia. On the same day, Russia launched an attack on Ukraine. As a result, Western countries blamed Pakistan for Russia's aggression.
Due to these circumstances, Pakistan's economy has suffered, and the people of Pakistan are facing difficulties. However, the current government is making efforts to stabilize the situation and improve the economy.
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