Pakistan, May 29 -- The major reason for the dismal economic situation of the country is corruption and the feudal-type nepotism that sustained it over decades has infested the state and its institutions. Making money from kickbacks by bureaucrats and politicians who are in a position of power, selling jobs and stealing public money from welfare and development projects Pakistan has been looted over the years. What more, that looted money has not been re-invested in Pakistani economy but been transferred out of the country in cash or through black bank accounts with the tacit help of bankers who also took their cut.
The Pakistani economy has reached a state where things can't go on like this anymore. Not only damaging the economy, corrupti...