Synopsis of Three Years of PTI in Power
The government claims to revive the economy of the country besides putting Pakistan on the track of sustainable growth
Pakistan Tehreek-e-Insaf (PTI) government will give the synopsis of its performance of three years before the nation today.
The government claims to revive the economy of the country besides putting Pakistan on the track of sustainable growth.
Here is the synopsis of the PTI government in the first three years of its governance.
Economy
The government remained successful in reviving the economy on the macro front during its tenure and achieved a Gross Domestic Product (GDP) growth of 3.9% in the fiscal year 2020-2021 (FY21).
Pakistan received $2.75 billion from the IMF as part of SDR allocation and the country’s total foreign exchange reserves have exceeded $27 billion in a historic first.
Roshan Digital Account (RDA) crossed the $2 billion mark in the 11th month of its launch in September last year.
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Pakistan has also started exporting mobile phones and other products while Large Scale Manufacturing (LSM) has also increased significantly.
The exports in FY21 rose 18.3% to $25.3 billion compared with $21.4 billion in the preceding fiscal year.
Pakistan now stands on 108 points from 148 points in the World Bank’s Ease of Doing Business rankings.
Diplomatic front
During three years of the PTI government, the diplomatic triumphs include the resurgence of the Kashmir issue on a global level.
Pakistan is in the center stage of the Afghan issue and its role is receiving international acknowledgment.
The country also received international applause for releasing Indian Air Force (IAF) Wing Commander Abhinandan as a gesture of peace in March 2019.
Failures
Despite the economic achievements on the macro front, the government remained unable to control inflation.
The rates of daily-use commodities kept soaring and the consumer-based inflation currently stands at over 8%. At one point, it crossed the 10% mark.
Meanwhile, unemployment has also soared particularly during the last year due to the covid-19 situation.
An unofficial survey claims that over 5 million people have lost their jobs during PTI tenure, citing multiple factors.
Legislation
The role of the parliament has diminished in the incumbent government as the government heavily relied on ordinances during the first 3 years to directly enact new laws.
