Jammu and Kashmir’s residents investing in Pakistan amid economic crisis: Report

A media report has claimed that the residents of Jammu and Kashmir have made billions of investments in big cities of neighbouring country Pakistan. Notably Pakistan's economy is reeling from a severe financial crisis, and during this time, the Indian residents from Jammu and Kashmir have invested billion of rupees in cities like Islamabad, Karachi, Lahore, and others, Pakistan vernacular media Siasat reported.

The report added that there are numerous scams happening in Pakistan and investors are losing money as the mafia is very powerful.

The report claimed that dozens of Kashmiri investors have been killed by consolidated groups in the past month but neither Pakistani nor Gilgit-Baltistan and PoK authorities are taking any notice of these crimes.

Yesterday, a Pakistan-based analyst said that Pakistani citizens will continue to suffer from living in a country plagued by low productivity, low economic growth, and poor public health services, regardless of who ends up 'winning' the current set of battles.

Mosharraf Zaidi, an analyst in Dawn newspaper stated that three urgent national crises in Pakistan will remain unaddressed no matter who comes out on top in the political and institutional free-for-all battle royale that currently rages among Pakistan's elite.

As per Zaidi, the three unaddressed issues are-Pakistani society's broken relationship with time, low female labour participation rates, and poor hygiene.

The reason for this is simple, none of the key actors in the political spectrum, none of the Supreme Court judges and no individual civil servant, none among the twos, three-or-four-star generals, nor any of the 22 secretaries has any interest in addressing these three urgent national crises, Zaidi said.

According to Zaidi, election or no election, democracy or dictatorship, rule of the jungle or rule of law, Pakistan will continue to be less than the sum of its parts.

These three distinct national crises convene together to become a much deeper and more profound vortex of persistent low productivity, Zaidi wrote for Dawn.

Pakistan is in the midst of a crippling economic crisis. Inflation clocked in at 35% in March, fuelled by a depreciating currency, a rollback in subsidies, and the imposition of higher tariffs to secure a bailout package of $1.1 billion from the International Monetary Fund.

Food inflation has risen to more than 47%, and even the wealthier professional class is making lifestyle changes to deal with rising prices.

Pakistan expects its economy to grow by 2% during the current fiscal year; however, in April, the World Bank slashed Pakistan's growth projections from 2% to 0.4%.