Financial crisis refer to a large variety of financial assests in which they lose a large part of their paper wealth.Financial crisis are increasing day by day due to no consensus.Different groups suffer from financial crisis.There is a loss of confidence investers sell at the same time and financial crisis occurs.
This results into an economic contraction.It is ensured that there is no loss of confidence,which is the major reason of financial crisis.Our nation can do a lot if it is provided with a dedicated leadership.The economic power of Pakistan is at its knees.Following are some of the reasons of financial crisis in Pakistan:
Poor Tax System:
Due to the poor tax system,the citizens do not take extra pains to pay for their taxes and the country suffers from financial crisis.
The illiteracy rate is increasing and there is lack of educated and intellectual people in our country.This is one of the basic reason of financial crisis in our beloved country.
The population is increasing day by day and there is lack of facilities.This increases the rate of unemployment and the financial crisis occurs.
When the banks provide the loan facilities to the citizens for ease,some of them do not return it to the government on time and as a result of this there is a great effect on the country's economic power.
Many other are the reasons for the financial crisis of Pakistan.Our mother land is suffering from countless problems.This land is the achievement of several sacrifices of our forefathers.It is duty of every single person,society and the state to fulfil their duties and remove financial problems from our country.