Islamabad, Sept. 23 -- : Pakistan needs an overhaul of economic policy as the country is facing its worst ever floods in history accompanied by a huge resource gap despite getting emergency loans from global financial bodies for the reconstruction.
The pressure of the resource gap is mounting as Pakistan is unable to seek foreign aid or loans due to its non-performing economy with slow growth, twin deficits, shrinking foreign exchange and uncontrolled inflation, reported Financial post.
Due to poor macroeconomic indicators, its sovereign credit rating has slipped to non-investment grade. Citing Pakistan's weakening economic condition, Moody's, Fitch, and S&P Global - all major global rating agencies - downgraded Pakistan's long-term ratin...