Once upon a time, Pakistan was projected to be one of the fastest growing economies back in the 1960s. The GDP was projected 6.8% and as India’s GDP was around 3.5 %. The economist started comparing pakistan with the USA, and it literally had the backing of many countries. The international delegation's special priority and investments were increasing with demand and access. Many countries started researching about how Pakistan was growing economically so well.
From economic power to becoming a rogue state and eventually collapsing day by day. Due to few political and international issues, which directly had impact on the economy and the overall stability. Frequent political instability and military coups changed the entire state affairs. When the government keeps on changing the policy and administration has a severe negative consequences. Slowly the deterioration has begun with new rules, new laws and new systems. Every other leader keeps occupying the main frame and army generals have toppled the government multiple times.
The political governance has been unsuccessful, with no prime minister completing a 5-year tenure due to rebels and military coups. The Pakistani procedure of repeated failures in all the sectors brought massive dependency on debt, which eventually China took advantage of. The USA support, which keeps on changing based on situations, also created an economic rift. By choosing quick and wrong friends, the debt increased, eventually leading to 23 times IMF bailouts asking for more aid and pleading to save them.
Another massive jolt was Imran Khan’s government, which introduced massive subsidies by cutting petrol prices by 21 rupees and for diesel almost 51 rupees along with massive hate narrative against India. The people of Pakistan have given huge support, as they were happy with massive subsidies. When the new government emerged after Imran Khan, they drastically changed the subsidy rules, which created massive protests along with higher inflation rates. The prices skyrocketed, making things even worse. On one side, they are failing to make their own state and on the another side, they are fighting conflicts internally and externally.
Eventually, the Chinese debt trap and the USA stopped its support of financial aid. Frequent disturbances, chaos and uncontrolled decisions have led to a greater collapse of Pakistan. When you compare India with Pakistan, our democratic system has had political stability for many years, there was no military coup. The systems work effectively with giant corporate companies investing, providing jobs and economic growth. Whereas Pakistan is controlled by military powers, making it unstable with stopped funding and investments. India improved its economic growth with time and with successfully running democracy, where as Pakistan destroyed their own nation by sponsoring terrorism and by becoming a rogue state.
