Photonews Logo Photonews logo
  • Home
  • Pakistan
    • Punjab
    • Sindh
    • Khyber Pakhtunkhwa
    • Azad Jammu Kashmir
    • Balochistan
    • Gilgit – Baltistan
  • World
  • Business
  • Entertainment
  • Videos
    Gen V Season 2 trailer
    Videos

    Gen V Season 2 Trailer Cast, Plot, Premiere Details

    July 26, 2025 3 Min Read
    IShowSpeed Daniel La Belle race
    Videos

    IShowSpeed Beats Daniel La Belle in 40-Meter Race, Hits 41M Subscribers

    June 24, 2025 2 Min Read
    Cardi B new single Outside
    Videos

    Cardi B’s ‘Outside’ Single Sparks Buzz Over Offset and Stefon Diggs

    June 20, 2025 2 Min Read
  • Sports
  • Technology
  • Offbeat
  • Blog
  • Contact
Reading: Atif Mian Warns of Economic Crisis in Pakistan: An Urgent Call for Action
PhotoNews Pakistan PhotoNews Pakistan
Font ResizerAa
Search
  • Home
  • Pakistan
    • Punjab
    • Sindh
    • Khyber Pakhtunkhwa
    • Balochistan
    • Azad Jammu Kashmir
    • Gilgit – Baltistan
  • World
  • Business
  • Entertainment
  • Videos
  • Sports
  • Technology
  • Offbeat
  • Blog
  • Contact
Have an existing account? Sign In
Follow US
© 2022 Photonews. All Rights Reserved.
Atif Rehman Mian on Pakistan Economic Crisis
PhotoNews Pakistan > Business > Atif Mian Warns of Economic Crisis in Pakistan: An Urgent Call for Action
Business

Atif Mian Warns of Economic Crisis in Pakistan: An Urgent Call for Action

Web Desk
By Web Desk Published September 9, 2024 2 Min Read
Share
Atif Rehman Mian is a Pakistani-American economist. Photo Credits: IMF
SHARE

Pakistani-American economist Atif Mian paints a grim picture of Pakistan’s economic future, highlighting its vulnerable state.

Atif Mian has called on Pakistani leaders to heed these warnings and implement urgent corrective measures. Critics, however, believe that the leadership is overly focused on internal politics, neglecting the critical economic challenges.

Dawn’s report outlines three primary “debt circles” perpetuating the crisis. The first, the fiscal circle, involves the government grappling with debt interest payments and unfunded pensions, leading to continuous borrowing to cover civilian and military expenditures.

The external circle, as the second major issue, hampers national trade. Pakistan’s trade imbalance, where imports double the exports and a heavy reliance on remittances, leaves little scope for sustainable economic growth.

Read: FBR Plans to Raise Withholding Tax Rates Amid Revenue Decline

The third, termed the weakness of confidence, poses the greatest threat. Growing frustration drives the hopeful youth to leave the country, deterring investment and worsening the dire financial and economic conditions.

Asad Rizvi, former Chief Financial Officer of Chase Manhattan Bank, emphasizes the need for a strategic approach to navigate these challenges. He has urged Atif Mian to share insights on how more developed economies with higher debt-to-GDP ratios have managed their situations effectively.

Read: SBP Likely to Cut Policy Rate in September Meeting

Atif Mian referenced a 1960 statement by former French President Charles de Gaulle critiquing the advantages the U.S. garnered from the dollar’s status as the global reserve currency. De Gaulle labelled it an “extraordinary privilege,” which allowed the U.S. to sustain trade deficits and borrow at low costs, thus imposing an economic strain on other nations.

TAGGED:Featured
Share This Article
Facebook Twitter Pinterest Whatsapp Whatsapp LinkedIn Email Copy Link Print
Leave a comment

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Advertisement

HBL Saving Made Easy
HBL Saving Made Easy

Recent Posts

Sidney Omen Brown death

Sidney ‘Omen’ Brown, Beyoncé and Drake Producer, Dies at 49

Imaan Mazari IHC Chief Justice Dogar complaint

Imaan Mazari Files SJC Complaint Against IHC Chief Justice Dogar

PSX KSE-100 rally

PSX Soars 800 Points as KSE-100 Reclaims 156,000 Mark

Post Archives

More Popular from Photonews

Jair Bolsonaro’s 27-Year Sentence: in Brazil
Top NewsWorld

Jair Bolsonaro Sentenced to 27 Years for Coup Plotting in Brazil

2 Min Read
Charlie Kirk Shooting and shooter
Top NewsWorld

Utah Officials Release Video of Suspect Fleeing After Charlie Kirk Shooting

2 Min Read
Imran Khan bail
Pakistan

Imran Khan’s Legal Team Appeals to UN Over Alleged Torture in Detention

3 Min Read
Entertainment

Sofia Vergara Sparks Romance Rumors with Douglas Chabbott at Oasis Concert

Sofia Vergara, known for her roles in Modern Family and Griselda, is making headlines again. This…

September 13, 2025
Pakistan

Pakistan Cracks Down on Anti-State Social Media Campaigns

Pakistan’s federal government stepped up efforts to stop anti-state campaigns on social media. The National Cyber…

September 13, 2025
Top NewsWorld

Arab-Islamic Summit Demands Sanctions on Israel for Gaza War, Qatar Attack

The Arab-Islamic Emergency Summit demanded sanctions on Israel. Leaders condemned Israel’s war in Gaza and its…

September 15, 2025
Sports

Pakistan Threatens Asia Cup 2025 Boycott Over Referee Andy Pycroft

Pakistan threatened to pull out of the Asia Cup 2025 unless the International Cricket Council (ICC)…

September 15, 2025
PhotoNews Pakistan

Always Stay Up to Date

Subscribe to our newsletter to get our newest articles instantly!

Categories

  • World
  • Pakistan
  • Punjab
  • Sindh
  • Khyber Pakhtunkhwa
  • Balochistan
  • Azad Jammu Kashmir

 

  • Top News
  • Business
  • Entertainment
  • Sports
  • Videos
  • Tech
  • Offbeat
  • Blog

© 2024 Phototnews
All Rights Reserved.

Welcome Back!

Sign in to your account

Lost your password?