Tuesday, July 2, 2024 04:40 PM
Pakistan faces governance and economic hurdles, including usury issues and corruption, requiring urgent reforms for sustainable growth.
Pakistan is currently grappling with significant challenges in its governance system and economy. The lack of accountability and responsibility among officials has created hurdles in the country's progress. Over the past three decades, the economy has been struggling with persistent issues and minimal improvement. Despite its potential for growth similar to neighboring countries like Vietnam, Bangladesh, and India, Pakistan's economy has been unable to achieve its targets, resulting in a recession in the industrial sector.
One of the critical issues facing Pakistan is the prevalence of usury, which is considered forbidden in Islam. The Shariah court has declared the usury system as haram, emphasizing the urgent need for its elimination. The high interest rates associated with usury have impeded investment and economic advancement, particularly in sectors such as agriculture, which could significantly contribute to the country's development.
Furthermore, challenges persist in areas like electricity theft, corruption within revenue institutions, and the adverse effects of social media on society. There is a call for the media to portray a positive image of Pakistan and actively contribute to shaping public perception. Reforms in institutions and the mitigation of economic pressures are deemed crucial for the country's advancement.
Pakistan is confronted with a complex array of economic and governance challenges that demand immediate attention and collaborative efforts from all stakeholders. Addressing issues like usury, corruption, and inefficiencies in key sectors is vital for fostering sustainable growth and development in the country.