Pakistan’s balance of payments crisis

Description

This article analyses the structural causes of Pakistan’s persistent balance-of-payments crisis, including a widening trade deficit, energy-import dependence, deindustrialisation and the power sector’s circular debt. It argues that short-term IMF assistance and bilateral financing can provide temporary stability but cannot substitute for a coherent long-term strategy. The article recommends industrial and technological development, export competitiveness, energy-sector reform and political consensus to reduce external vulnerability and achieve sustainable economic growth.