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Sociology Assignment 1.

This document is a sociology assignment on identifying Pakistan's biggest social problem and existing solutions to economic crises globally. [1] The identified social problem is Pakistan's current economic crisis, which includes a large balance of payments deficit and high imports. [2] Existing solutions to economic crises discussed include implementing fiscal rules, promoting skills training, and introducing monthly electricity billing. [3] Stakeholders related to Pakistan's economic crisis include policymakers who have failed to address high inflation and supply-side issues through conventional monetary policy.

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SYED MUHAMMAD ALI BBA
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45 views

Sociology Assignment 1.

This document is a sociology assignment on identifying Pakistan's biggest social problem and existing solutions to economic crises globally. [1] The identified social problem is Pakistan's current economic crisis, which includes a large balance of payments deficit and high imports. [2] Existing solutions to economic crises discussed include implementing fiscal rules, promoting skills training, and introducing monthly electricity billing. [3] Stakeholders related to Pakistan's economic crisis include policymakers who have failed to address high inflation and supply-side issues through conventional monetary policy.

Uploaded by

SYED MUHAMMAD ALI BBA
Copyright
© © All Rights Reserved
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd
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ASSIGNMENT#1

SOCIAL PROBLEM

Prepared for:
Sir. Shahid Inayet
Lecturer, Muhammad Ali Jinnah University

Prepared by:
Syed Muhammad Ali
ID: FA17-BBAH-0035
Course Name: Principles of Sociology(BM)
Submitted Date: 11th March’2019
1. Identify the social problem?
According to my view today’s biggest social problem of Pakistan is ‘’ECONOMIC CRISIS’’
Pakistan's recently chosen government is as of now managing a parity of installments emergency,
which has been a predictable subject for the country's recently chosen authorities. Pakistan's
auxiliary issues are homegrown, however what is diverse this time around is an additional part of
Chinese obligation. Pakistan is the biggest Belt and Road (BRI) accomplice adding another leaser
to its effectively muddled monetary circumstance.
Pakistan held its latest races in July 2018. The Pakistan Tehreek-e-Insaf party increased more than
100 seats in the parliament, and its author Imran Khan, was introduced as executive. Leader Khan
has acquired an equalization of installments emergency, the third one over the most recent 10
years. Before the finish of June 2018, Pakistan had a present record deficiency of $18 billion,
almost a 45 percent expansion from a record shortage of $12.4 billion of every 2017. Over the top
imports (counting those identified with the China-Pakistan Economic Corridor (CPEC)) and not
exactly anticipated inflows (send out incomes and settlements) have prompted a present record
shortfall enlarging, with outside cash holds levels covering under two months of imports pushing
Pakistan towards a troublesome monetary circumstance.
Some portion of Pakistan's budgetary emergency originates from the way that 2018 was a poor
year for developing markets. Worldwide money related fixing, expanded oil costs, and diminished
financial specialist certainty have adversely affected the nations as of now tricky monetary
circumstance. However, the nation's profound auxiliary issues and feeble macroeconomic
approaches have additionally presented the economy to a variety of obligation vulnerabilities.
Pakistan has had an exaggerated swapping scale, low loan fees, and stifled expansion in the course
of the most recent couple of years. This free money related approach has prompted high household
request, with 66% of Pakistan's monetary development coming from residential utilization. An
exaggerated conversion scale has prompted an exceptionally abnormal state of imports and low
dimension of fares. Pakistan's high financial shortfall was quickened much further in 2017 and
2018 in light of the fact that decisions have truly made spending rise (both of the latest monetary
emergencies pursued races). Maybe the best monetary issues confronting Pakistan are its
unavoidable tax avoidance and incessantly low dimension of household asset preparation. Charges
in Pakistan include fewer than 10 percent of GDP, a long way from the 35 percent of nations that
are a piece of the Organization for Economic Co-task and Development (OECD). Pakistan
likewise experiences hindrances in the vitality area through continuous and across the board
control blackouts that hurt its aggressiveness

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2. Identify Economic Crisis Existing Solution Across the Globe.
The existing solution across the globe are the following:

1. Treat waste and sewage as a resource.


Treat waste and sewage as a resource, and increase recycling and reuse. Take account of
engineering, economic and social viewpoints to implement a range of potential options to make
better use of water and solid waste.

2. Implement fiscal rules.


Countries with high and rising national debt should each formulate a fiscal rule and ensure its
implementation by law or an independent debt commission.

3. Publicize the positive value of immigrants.


Publicize the positive economic impact of migration for the destination country and more
generally, the benefits of cultural diversity and “migrant transnationalism.”

4. Make e-learning complementary to traditional learning.


E-learning is complementary to traditional learning and should be promoted and guided by
strong educators.

5. Promote good governance in resource-rich countries.


Resource-dependent countries should foster good governance initiatives in resource-rich
countries.

6. Create a female leadership group to strengthen women’s representation in


key business decision-making roles.
Create a leadership group of influential female chief executives and chairs from a diverse range
of leading businesses to place the issue of women’s underrepresentation at top decision-making
level on countries’ business agendas.

7. Formulate climate adaptation strategies.


Developing countries should formulate written climate adaptation strategies, just like their
poverty reduction strategies, estimating the costs of adapting to climate change.

8. The IMF should promote infrastructure investment.


To attract investors in infrastructure in developing economies, the IMF should play a significant
role in assessing risks and being prepared to absorb any initial losses.

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9. Coordinate expertise to address cyber threats.
To enable better cooperation in combating cybercrime, states have to coordinate their experts as
well as their technical infrastructure.

10. Introduce monthly electricity billing.


Introduce monthly billing to increase consumers’ awareness of their electricity consumption and
energy-saving opportunities.

3. Stakeholders and authorities related to Economic crisis of Pakistan….


This absence of foreknowledge is additionally seen in arrangement creators of Pakistan who appear
never going to budge on complying with conventional monetary approach: raise financing costs,
control expansion. On the off chance that this strategy was in truth viable, at that point, it would
have attempted to control swelling in Pakistan that has soar to 13 percent as indicated by State
Bank figures. On the off chance that sustenance expansion is considered, it has impelled by a
gigantic 45 percent. Despite such barefaced strategy disappointments what's going on with the
approach creators? Unreasonable borrowings from the SBP by the administration in such a
situation is weakening financing costs bringing about the swarming out of the private area.
Consequently, as opposed to expanding the supply of cash to the private area, the administration
is financing ineffective uses through unreasonable getting. The report proposes that approach
producers have been successful in containing their spending by eliminating 'improvement uses'.
as indicated by the report by SBP, obstinate inflationary weights are conceivably an aftereffect of
the 'slacked effect of government borrowings from SBP, visit upward change in utility and POL
costs, increment in product costs; and rising house lease list.' If this is to be examined, it is more
than clear that major inflationary difficulties are innately supply side issues which could have been
managed even notwithstanding a continuation of an expansionary financial and fiscal approach.
Financial mismanagement is by all accounts one of the serious issue for Pakistan and this issue
must be tended to through monetary development. Financial development will in general pull in
remote direct venture, increment business openings and lifts the certainty of different partners.
Along these lines, precluding the advantageous impacts of financial development saw amid the
last government isn't just gullible yet additionally verifiably off base.

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