Ahead of the general elections in Pakistan the World Bank issued a candid warning for the upcoming governments to make the right choices it clarified that International lenders and development Partners could only advise with International experiences of successes and some financing but the World Bank said that hard choices and course correcting decisions could only be taken within the country World Bank
officials said that Pakistan had been facing numerous economic hardships including inflation Rising electricity prices severe climate shocks and insufficient public resources to finance development and climate adaptation when the country was among the most vulnerable to climate change impacts additionally the World Bank said that Pakistan's average real per capita growth rate was just 1.7 between
2000 and 2020. it is less than half the average per capita growth rate for South African countries over the period and well below the average of comparator countries with similar economic structures the World Bank post shifting policies from underfunded inefficient and fragmented Service delivery and social Protection Systems towards coordinated efficient and adequately financed Service delivery targeting the
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most vulnerable it also advised a shift from wasteful and rigid public expenditures benefiting a few towards tightly prioritized spending on public services infrastructure and investments in climate adaptation benefiting populations most in need according to reports the Pakistani rupee touched a record low of 299.64 against the dollar in the inter-bank market by further sliding 0.63 on Wednesday Pakistan's
country being governed by a caretical government that is tasked with steering the country through a national election earlier in September Islamabad witnessed a downfall in the productive and services sectors reports revealed that companies were scrambling to cut expenses and bring the option of job Cuts salary freeze or reduction in salaries although Pakistan was able to secure the a deal just in time the
conditions imposed by the body are turning out to be tedious to implement under this Pakistan imposed additional taxes of 215 billion Pakistani rupees and slashed expenditures by 85 billion Pakistani rupees in its budget with high inflation and foreign exchange reserves barely enough to cover one month of controlled reports Pakistan has been facing its worst economic crisis in decades .
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