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Pakistan's economy remains under severe strain due to a debt crisis, with the country facing challenges in repaying $1.2 billion in outstanding payments. [27] In Pakistan, inflation maintains its upward trajectory, as indicated by the most recent official data, which shows a year-on-year increase of 35.4% in the consumer price index for March 2023.
Poor governance and low productivity per capita in comparison with other low to middle-income developing countries have contributed to a balance of payment crisis, where the country is unable to earn enough foreign exchange to fund the imports that it consumes. [5] Pakistan's economic crisis is the biggest crisis since its independence. [6] [7]
A political and constitutional crisis emerged in Pakistan from, 3 April 2022 to 10 April 2022 when, National Assembly's deputy speaker Qasim Khan Suri dismissed a no-confidence motion against prime minister Imran Khan during a session in which it was expected to be taken up for a vote, alleging that a foreign country's involvement in the regime change was contradictory to Article 5 of the ...
The national cabinet, led by the Prime Minister of Pakistan has executive power and the president is the head of state elected by the electoral college. [3] Pakistan's political system is based on an elected form of governance. [4] The democratic elections held in 2008 were the first to conclude a 5-year term in the nation's political history.
Pakistan's economy in the 1990s suffered from poor governance and low growth as it alternated between the Pakistan Peoples Party under Benazir Bhutto and the Pakistan Muslim League (N) led by Nawaz Sharif. The GDP growth rate sank to 4 percent and Pakistan faced persistent fiscal and external deficits, triggering a debt crisis.
2 April – After the resignation of Buzdar, the meeting of the Punjab Assembly was convened on 2 April 2022 to elect a new Chief Minister. [4] Meanwhile Muhammad Khan Bhatti, Secretary of the Provincial Assembly said that the candidates would submit their nomination papers today while voting for the election of a new Chief Minister is likely to take place tomorrow or Monday.
The Politics of Pakistan (سیاسیاتِ پاکستان ; ISO: Siyāsiyāt-e-Pākistāna) takes place within the framework established by the constitution.The country is a federal parliamentary republic in which provincial governments enjoy a high degree of autonomy and residuary powers.
During that period economy of Pakistan remained in poor shape and Pakistan had to go to IMF again for record third in the period of Bhutto government. [3] As per few sources, this was the most corrupt government in the history of Pakistan. This time Pakistan got an amount of US$294,690 (equivalent to $589,251 in 2023) on 13 December 1995. [3]