The World Bank’s recent warning about Pakistan's rising poverty rate underscores a dire situation that demands immediate attention. With projected economic growth rates of between 2.8 per cent and 3.6 per cent for the next two years, it is clear that these figures are insufficient to alleviate poverty. Despite some signs of economic stabilization, the persistence of high inflation and reduced public investment is exacerbating vulnerability among citizens. The World Bank highlights the urgent need for structural reforms, including overhauling an inequitable tax system and reducing state intervention in the economy.
Focusing on public-private partnerships in the energy sector is also crucial. The inefficiencies and high losses in these entities cannot continue unchecked, as they represent a significant drain on resources and hamper economic growth. The ongoing economic challenges require not just temporary fixes but a comprehensive strategy that prioritizes the welfare of the most vulnerable. A commitment to equitable growth and effective governance will be essential in ensuring a better future for all Pakistanis.
Seemar Babar
Rawalpindi
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