Pakistan’s economic challenges are caused by financial mismanagement and lack of reforms since independence. Economic stability and growth depends upon major reforms, not on IMF program and foreign loans. Massive savings from the luxuries of the ruling elite will enable more funds for development. This was stated by Dr Nadeem ul Haq, Vice Chancellor Pakistan Institute of Development Economics (PIDE) who earlier served as Deputy Chairman, Planning Commission of Pakistan in WE English program Insight on Federal Budget 2024-25.
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