After the partition of India & Pakistan, Pakistan has had 18 prime ministers but none of them have completed their 5 years of leadership. In Pakistan most of the political parties only shows the benefits to themselves. after Sri Lanka, Pakistan is in the same situation of economic crisis where they have only 3 weeks of imports cost left. Now, the inflation rate of Pakistan's economy has increased by 32% daily. The main reasons behind downfall of Pakistan's economy are:
1. Natural disasters (Crisis)
Recently in year 2022, Pakistan suffered a huge amount of disaster in landslides which caused Millions of losses. wherever, many donations was given to the victims for relief & losses. But, before the climate disaster The Pakistani Government already were on final stage of economic crisis. In the situation of crisis the climate disaster made a big impact on Pakistan's economic crisis.
2. CFIDP (Chinese Financing Infrastructure Development Project)
The other main cause of Pakistan's economic crisis is accepting the agreement from China in Development of Infrastructure Projects. The incomplete of work and high charges in interest rate caused Pakistan's Government in crisis. The projects of Chinese Financing in Developing Countries Infrastructure have caused crisis in developing countries.
3. Politics and Corruption
The main reason behind the crisis is the mismanagement of government and politics. All the politics wants to show their popularity or craze to the peoples rather than developing and maintaining the country's situations. Corruptions are seen in government offices.
4. Fight with Taliban
Pakistan have no good relationship with Taliban and are fighting from past till now. The trade was also closed between them after the Taliban captured Afghanistan which caused impact on economy of Pakistan. Most of the Pakistani peoples are protesting against Government and requesting Indian Government to open the border between them and let be the part of Indian citizen.
5. High imports & Low Exports
Pakistan is one of the highest Tea importers of all time. But, today the Government request people to drink less Tea in a day where average Pakistani people drinks Tea 3-5 times a day. According to official data the imports rate is over 80 Billions of dollars where the exports rate is only 20-30 billions of dollars. this triggers on Pakistan's economy for having high imports rate than exports. Now, Pakistani Government are planning to sell the Nuke due to crisis.
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