This is apropos a Business Recorder op-ed "Budgetary outcome in 2015-16" by Dr Hafiz A Pasha. The writer seems to have summarised or explained in a nutshell the economic landscape of the country in the beginning of his write-up.
According to him, "On the positive side, FBR and provincial tax revenues have shown exceptional growth, the increase in current expenditure has been restrained and the provinces combined have apparently generated a large cash surplus. On the negative side, non-tax revenues of the federal government have plummeted, development spending has been severely cut back and overall fiscal deficit is significantly larger than the targeted."
What he has preferred to ignore is the adverse impact of drastic cut in development spending, which has already given birth to millions of jobless people.
The learned economist must be aware of the fact that not only does unemployment affect a country's economy, it makes the government and nation suffer. The nation not only has to deal with the lost income and decreased production but also with additional cost. In a nutshell, unemployment affects not just the person himself or herself but also his or her family and in the long run the society, giving birth to social and political tensions. No doubt, Dr Pasha's is a profoundly informed analysis of various areas of economy, but one would urge him to discuss in detail the country's unemployment challenge.
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