Pakistan’s ‘Nazuk Mor’ becomes case study at Harvard School. In a thought-provoking case study titled “Pakistan at 75: When Will the ‘Nazuk Mor’ End?”, the longstanding economic challenges of Pakistan are dissected and examined.
Despite 77 years since its inception, the nation continues to grapple with persistent issues including inflation, utility bills, taxation, corruption, and escalating external debt.
Meanwhile, the wealth of the elite class and leaders expands overseas amid domestic economic turmoil, further widening the gap between the affluent few and the struggling populace.
Academic Interest in Pakistan’s Crisis:
This case study has attracted attention from foreign educational institutions, using Pakistan’s predicament as a real-world example to educate and prepare future leaders and managers.
It has been incorporated into Professor Alberto Cavallo’s “Business, Government, and the International Economy” course at Harvard Business School during the Spring 2024 semester.
Understanding the Concept of “Nazuk Mor”:
The term “Nazuk Mor,” frequently used in political discourse, encapsulates Pakistan’s challenges with political instability and cyclical economic downturns.
Also read: IMF signals to ‘engage’ with Pakistan on fresh bailout
This phrase underscores the country’s persistent struggles since its founding in 1947.
Political Transition Amid Allegations:
Following the general elections on February 8, a new government led by Prime Minister Shehbaz emerged amidst allegations of widespread electoral rigging.
The top priority for the PML-N-led government is the economic recovery of the cash-strapped nation.
Seeking IMF Support:
In a bid to avert a potential default, the newly elected Pakistani government has approached the International Monetary Fund (IMF) for assistance.
Recent developments include a staff-level agreement reached between Pakistan and the IMF on the second and final review of a $3 billion Stand-By Arrangement (SBA).
Implications of IMF Agreement:
Upon approval by the IMF’s board, Pakistan stands to receive approximately $1.1 billion in critical financial aid, providing a lifeline to the struggling South Asian nation.
