To try to make sense of Pakistan’s current economic crisis and the threats to its economic sovereignty, Ziauddin University organised an interactive session titled ‘Our vision of Pakistan: impediments to development’ where experts came together to offer insights into the way forward.
The keynote address by renowned economist Dr Kaiser Bengali outlined how the economic trajectory that the new government has embarked on is littered with decades of institutional decay and rampant corruption; the path forward to make Pakistan economically sovereign requires urgent and intensive interventions without which no positive results can be achieved.
“With Pakistan’s external debt having crossed $100 billion, the sword of debt hangs over our head. Why and how have we reached here? Two gaps have contributed to this — the dollar gap and the rupee gap. Data shows that there has been an absolute decline in exports and imports have fallen too,” said Dr Bengali.