Pakistan’s economy is in a crisis like never before. As a result, the Islamic nation is begging from International Monetary Fund (IMF). Is economic bailout just around the corner? This is not the first time Pakistan finds itself in such a crisis. The country has been in this situation twelve times since 1980. However, the current bailout is particularly severe because previous loans from the IMF have not been repaid, and other potential lenders — Saudi Arabia, China, and the United Arab Emirates — are offering loans at a very high-interest rate compared to the IMF. Due to this, IMF officials are negotiating with maximum advantage, offering Pakistan very little room for negotiation. However, obtaining a loan from the IMF has its pitfalls. The IMF's low-interest loans come with numerous conditions related to fiscal discipline and probity. As these conditions directly conflict with welfare policies, they put pressure on the government as citizens expect more welfare-oriented policies during the economic crisis.
As Pakistan stands at a crossroads, we should understand why and how it has fallen into this crisis. For the readers, a close look at this crisis is important to understand why such an economic crisis arises and what Pakistan can learn from India. Let us start by understanding how Pakistan got into this mess. This crisis is certainly not the result of one bad day or a single bad policy decision. The causes are as profound as the crisis itself. However, due to space constraints, we will focus on the state of affairs post 2018, when Imran Khan took over as Prime Minister, and discuss how political instability, unviable economic policies, and the worst floods ever exacerbated the crisis.
CONFLICT OF INTEREST
This story is from the ORGANISER 26 FEB 2023 edition of Organiser Weekly.
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This story is from the ORGANISER 26 FEB 2023 edition of Organiser Weekly.
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GOING INTO ELECTION MODE
AS KARNATAKA IS ALL SET FOR LEGISLATIVE ELECTIONS IN MAY THIS YEAR, FACTORS LIKE THE DEMAND FOR RESERVATION, ANTI-INCUMBENCY AND VARIOUS OTHER CONTROVERSIES WILL MAKE THIS ELECTION QUITE INTERESTING
ISLAMIC NATION AT A CROSSROADS
AMID POLITICAL INSTABILITY AND MILITARY INTERVENTION, PAKISTAN IS GRIPPED BY ECONOMIC CRISIS WHICH IS FURTHER DETERIORATING: IT WOULD BE INTERESTING TO WATCH HOW THIS ISLAMIC NATION OVERCOMES THE SITUATION
A GAME-CHANGER FOR INDIAN ECONOMY
THE DISCOVERY OF 5.9 MILLION TONNES OF LITHIUM DEPOSITS IN JAMMU AND KASHMIR WILL CHANGE INDIA’S FORTUNE AND ITS JOURNEY TOWARDS SELF-RELIANCE IN ENERGY. IT WILL ALSO CHANGE THE FACE OF THE COUNTRY’S EV SECTOR
REVIVALISM FOR TRANSFORMATION
SWAMI DAYANAND SARASWATI, A REMARKABLE EDUCATIONIST AND REFORMER, PLAYED A SEMINAL ROLE IN REMOVING ORTHODOXY AND OTHER SOCIAL ILLS PLAGUING THE HINDU SOCIETY. HE ALSO MADE EDUCATION ACCESSIBLE TO ALL
'PM MODI'S POLICIES BEHIND BJP'S ENTRY IN NAGALAND'
The entire North East is witnessing a change since the Modi Government came into office in 2014.
RESOLVE TO RECLAIM OUR TERRITORY
FEBRUARY 22 IS MARKED AS THE SANKALP DIWAS RESOLUTION DAY). IT REMINDS US OF THE RESOLVE THE PEOPLE OF INDIA, THROUGH THEIR REPRESENTATIVES IN PARLIAMENT, TOOK TO RECLAIM THE TERRITORIES THAT WERE OCCUPIED THROUGH AGGRESSION IN 1948
WHAT'S COOKING?
RUSSIAN PRESIDENT VLADIMIR PUTIN IS NOT KNOWN TO OFTEN MEET FOREIGN LEADERS BELOW THE RANK OF HEAD OF GOVERNMENT, EVEN FOREIGN MINISTERS ARE RARELY GIVEN AUDIENCE. SO WHEN HE HAD AN HOUR-LONG TETE-A-TETE WITH INDIA’S NATIONAL SECURITY ADVISOR AJIT DOVAL IN MOSCOW RECENTLY, IT CAUGHT THE WORLD’S ATTENTION
A WAY TO DELIVER JUSTICE
WHEN OUR CONSTITUTION MAKERS PROVIDED RESERVATION BENEFITS TO THE SCHEDULED TRIBES, THEY WANTED TO SAFEGUARD THE TRIBAL POPULATION WHILE ENSURING AMPLE OPPORTUNITIES FOR THEM TO PROGRESS. UNFORTUNATELY, RAMPANT CONVERSION HAS CREATED A SITUATION WHERE THE CONVERTS ARE AVAILING DOUBLE BENEFITS WHEREAS TRIBALS WHO CONTINUE TO MAINTAIN THEIR FAITH ARE DEPRIVED OF THE OPPORTUNITIES MEANT FOR THEM
LEGISLATIVE AND JUDICIAL PERSPECTIVE
THE ISSUE OF DELISTING IS BEING RAISED SINCE MANY DECADES. EVEN ATTEMPTS WERE MADE IN PARLIAMENT FOR CONSTITUTIONAL AMENDMENTS TO DELIVER JUSTICE TO THE TRIBAL COMMUNITY. THIS MATTER IS ALSO BEING HEARD IN VARIOUS COURTS
JUSTICE FOR JANJATI COMMUNITY
THE 'JANJATI GARJANA DELISTING RALLY' WAS ORGANISED IN BHOPAL, MADHYA PRADESH ON 10 FEBRUARY. THE RALLY WAS ATTENDED BY EMINENT PERSONALITIES FROM THE COMMUNITY. NOTABLY, SUCH RALLIES ARE BEING IN ORGANISED CONTINUOUSLY IN STATES WHICH HAVE SIGNIFICANT TRIBAL POPULATION SUCH AS MADHYA PRADESH, CHHATTISGARH, ARUNACHAL PRADESH AND ELSEWHERE IN THE NORTH EAST