It is an unavoidable fact that Pakistan is going through a difficult phase of economic growth. The problems today are the creation of mistakes done in the past and present situations also contribute to it. The slow growth of the economy has its deep roots in the aspects of political, social and cultural weaknesses. Economic problems include the fluctuations in the value of money, imports and exports, business sector, bureaucracy, interest rates, taxation, etc.
Pakistan is facing a large number of debts. Today, it is so much important for Pakistan to improve its trade with other countries to raise their foreign reserves.
Secondly, the value of rupee, of course, has a major role to play. Due to the declining value of rupee day by day, Pakistan is unable to raise their foreign reserves.
Corruption, everybody is familiar with this term and it can be seen practically everywhere in Pakistan. Corruption has crippled various hierarchical systems in Pakistan. The reason why organizations cannot function efficiently is because of the presence of corruption at every level.
Secondly, the world recognizes the importance of education for the betterment of the country. The illiteracy rate in Pakistan is high due to which people are unable to contribute to the economy properly. High illiteracy is also a reason why poverty exists in Pakistan.