Is Pakistan going bankrupt?
Pakistan is going through the darkest period of economic history. The matter has reached the point of bankruptcy in the country. Inflation is an important component of a social and economic system. In your economic system, there must be a certain level of inflation. Because it determines your interest rate. In the country, if this rate increases beyond its fixed limit, the daily items will go out of the purchasing power of the common man. In this situation, the worker, who plays a key role in economic development, wants more for his labor. Due to this, the labor cost increases.
And since the enterprise operates under a capitalist system, it wants to minimize its cost of production. In this case, a new wave of unemployment starts in society by throwing many people out of jobs. As a result, unemployed people become a burden on society unless they find new employment. Now people are burdened with more and more responsibility even for minimum salary and the scope of skill development in society becomes less and less. Foreign investment, which depends on the presence of skilled labor in any country, also tends to decline.
It is important for the common man to know what to do to survive this economic crisis. The first priority should be to minimize your unnecessary expenses. All those expenses which are a part of your life but it is impossible to live without them should be reduced. These include unnecessary use of vehicles, consumption of electricity and fuel, etc.
