Pakistan Faces Uphill Battle to Revive Ailing Economy

Pakistan's economy is in dire straits due to decades of overspending and debt financing. Interest payments alone consume most revenues.
Broadening the tax base and documenting the informal economy are essential to increase revenues. The public must realize paying taxes leads to better infrastructure and public services.
The government claims to cut wasteful expenses but concrete steps remain to be seen, like reducing travel perks and protocol cavalcades. Austerity flows top-down.
Implementation issues with the 18th Amendment have left people dissatisfied. The NFC Award may need revisiting as debts keep rising.
Urgent actions needed include curbing inflation, generating employment, expediting Special Economic Zones, and opening SIFC to private investments. Reviving the economy must be top priority.