Reviving Pakistans Economy A Path to Sustainable Growth

Pakistan’s economic challenges stem from a cycle of borrowing that hasn’t led to sustainable growth. Between 2008 and 2023, the country borrowed $129 billion but paid back $136 billion, leaving it with over $130 billion in debt. The International Monetary Fund (IMF) projects Pakistan will need $124 billion in the next five years, primarily for debt repayment.

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To break this cycle, Pakistan must prioritize industrialization and export growth. A long-term national development program is essential, focusing on manufacturing and value-added exports. Supporting small and medium-sized enterprises (SMEs) can drive job creation and innovation, especially for the large unskilled youth population.

The government should improve governance and invest in skills training, ensuring that aid goes towards enhancing human capital and infrastructure. By fostering a competitive environment, Pakistan can leverage its resources and unlock the potential for sustainable economic growth.