Ask anyone on the streets, and they will say YES, it is correct. In the wake of the economic crisis in Pakistan, World Bank Country Director for Pakistan, Najy Benhassine said that Pakistan’s economic development is limited to the elite which resulted in the country lagging behind its fellow countries, Pak Vernacular media reported.
He noted that Pakistan’s economic model has become ineffective and said that poverty reduction is starting to increase again, the significant reduction in poverty in the past is resurfacing, the thought is growing that the policy must be changed, economic development in Pakistan is not sustainable. Najy Benhassine stated that the economic development in Pakistan is limited and benefits limited people, Pakistan is under the influence of environmental changes, and the deficiencies in the agricultural and energy sectors should be removed.
The country director of the World Bank said that the focus of energy reform should be financial stability, better distribution, private sector and focus on generating alternative electricity instead of expensive ones.
Pakistan most vulnerable in South Asia to balance of payment crisis: Moody’s Report
