At a time when war is going on around many Islamic countries, some countries are directly involved in it and it is having serious negative effects on many Islamic countries and how many are affected. The Organization of Islamic Countries (OIC) has closed its eyes in many cases. Europe has not crawled into the ears of the American countries and many other countries, but the war-torn environment can be described for the countries whose majority are members of the Organization of the Islamic Conference.
For these countries namely Palestine, Syria, Lebanon, Iraq, Iran and many other countries, questions are now being raised about the functioning of this organization. In this oppressive, war-torn environment, Pakistan is fighting its own economic war. Soon the situation is pointing to a new scenario, that is the results of the US elections and the expected changes after January 20. The American elections are not so much auspicious for Pakistan that the status of Pakistan as a strategic partner in American politics has not been the same for many years.
In such a situation, Pakistan has done well to raise its relations with China to the height of the Himalayas, and gazed at Russia from the same height, and Russia has also given positive signals and many practical measures have also been taken for the Pakistani economy in order to accelerate it. They seem to be moving in a positive direction.
When the new government came in on December 20, 1971, Pakistan was struggling to stand on its own feet after its independence. In such a case, within a few years, a steel mill agreement was concluded with Russia. Immediate implementation began. The mill made rapid progress towards its completion and it was announced as early as 1977 that the steel mill would run three shifts and employ 70,000 people in each shift when the mill reached its peak. However, the mill was up and running well into the 1980s. Steel mill was the backbone of Pakistani economy. However, the Chief Minister of Sindh has gathered courage from which it is hoped that good news will be received soon.
Pakistan is located in a region that is deeply affected by every war and peace. Meanwhile, the Afghan war was going on and after 9/11 we were rocked by explosions, terror attacks, which consumed our domestic tourism. Long story short Pakistan is still fighting an economic war. At a time when the emerging economies of the world are facing a long-term crisis. Where has the neighboring country reached Bangladesh’s exports are more than ours. Compare the Pakistani currency with other countries in the region.
The Pakistani rupee immediately compensates for its weakness. In such an environment, it is being said that there are some signs of improvement in the economy. IMF officials were also saying this several months ago. There is so much noise that inflation has come down, although the world market has played a part in it, where food prices have come down, oil prices have also come down. Agriculture has performed well in Pakistan. Last year flour was 170 rupees per kg, now it is up to 100 or 110 rupees. It is about these 5 months of the last financial year when 47 billion 52 crore rupees were spent by importing 5 lakh 57 thousand metric tons of wheat. This time, all these savings have gone into the import account and have been used in signs of improvement in the economy. The stock exchange is touching new highs.
From one hundred thousand to one hundred and three thousand, its progress has stung everywhere that the economy is improving, but the unemployed, the starving, the wounded hearts of the electric bomb, the merciless gas bills, as The poor have been hurt, the inflation has reached single digits, it is true, but the poor don’t believe. However, the government has said that the trade deficit has decreased by 18.60 percent in November 2024 as compared to November 2023. If we compare July-November 2024 with July-November 2023, the trade deficit has decreased by 7.39 percent. After all, there has been a decrease. It will be considered as a positive sign.
The government is advised to maintain and widen the deficit till the end of the year by 25-30 per cent in the trade deficit, then the economy may be on the mend. Foreign exchange inflows can be increased rapidly. The import bill, which has increased by 4% in 5 months, should be controlled immediately as the total import volume during July-November 2024 was 22.34 billion dollars compared to 21.5 billion dollars during July-November 2023 of the previous financial year. It was up to a dollar.
Therefore, if the imports are evaluated in an unbiased way, many goods are looking like this and the government even banned some of them in the last financial year. was Among the import of food items are luxury cars, vehicles, mobile phones and many other items, however, there are many food items that are subject to tax. to be reduced including cooking oil, dry fruits, some vegetables and some fruits which are imported and especially tea leaf some cheaper Do it so that some poor can drink cheap tea and say that inflation has come down.
