Socio-Economic Challenges in Pakistan

Abstract

Economic turmoil in Pakistan is due to facets of reasons. The country since its very inception has remained in a vicious cycle of political instability, the lamentable lack of civilian leadership, long military rules and weak institutions. The cumulative implications of the scenario manifest Adhocism, inconsistencies in economic policies, foreign debt and fragile industrial policy. The people of the country have been facing intractable repercussions of economic turn down as increasing poverty, unflinching corruption, and awful conditions of governance. War on terror has further deteriorated economic conditions of Pakistan. The country has got invincible economic losses in the war against terror. The solution of economic problems of Pakistan lies in true democratic order, rule of law, consistent economic policies and the reduction of foreign debt and more investment in the country.