The World Bank has issued a warning to Pakistan, stating that the country is at a critical juncture where it must decide between maintaining its current state with a significant portion of the population living below the poverty line under elite control or embarking on a path to a brighter future. The World Bank’s Country Director for Pakistan, Najy Benhassine, emphasized that Pakistan faces a human resource and economic crisis.
Policy decisions in the nation are influenced by strong vested interests, including military, political, and business leaders. The country grapples with economic challenges such as inflation, rising electricity prices, climate shocks, and inadequate resources for development and climate adaptation.
Pakistan’s human development indicators lag behind South Asia, and it faces substantial hurdles in education and healthcare, particularly for girls and women. The growth model has led to a balance of payments crises and fiscal deficits, impacting growth and investments.