“Pakistan’s economy is going to collapse like that of Greece’s in the next 10 years,” warned Pakistan’s education Minister Jam Mehtab Hussain Dahar.
He said, “Pakistan has been divided into haves and have-nots classes, and if this divide is further deepened, Pakistan’s economy will collapse in next 10 years.”
“Education is linked with economic prosperity but the education sector in Sindh is underperforming despite the fact that Rs700 million of the province’s annual development budget has been allocated to the education sector,” said the minister.
He was addressing the inauguration ceremony of a conference, titled ‘International Conference on Transforming Economic Development: Policies and Strategies’, organised by the Applied Economics Research Centre (AERC) at the ICCBS, Karachi University on Tuesday. There were many other experts present at the conference.
Among the experts speaking at the event, economist Dr. Kaiser Bengali said Pakistan’s import have been increased in comparison to export and this difference between import and export is mounting up debts.
Tension with India is extremely harmful to us, said Pakistan Institute of Development Economics vice-chancellor Dr. Asad Zaman. “Pakistan needs to rethink and reconfigure trading patterns; self-sufficiency is the need of the hour,” he added.
AERC Director Prof Dr. Samina Khalil said that Pakistan is heading towards a social and economic downfall which could sweep away our current economy and our assumptions about the future causing a crisis that would impact the whole world.