Despite 77 years of existence, Pakistan continues to grapple with its critical period, known as the “Nazuk Mor.” Back-breaking inflation, soaring utility bills, heavy taxation, corruption, and escalating external debt have burdened the common people, while the elite class and leaders see their assets grow abroad amidst the homeland’s economic crisis.
This scenario has garnered the attention of foreign educational institutions, which have decided to use it as a case study for potential future leaders and managers.
Titled “Pakistan at 75: When Will the ‘Nazuk Mor’ End?” the case study is intended for use in Professor Alberto Cavallo’s course, “Business, Government, and the International Economy — Spring 2024,” at Harvard Business School, which secured the 11th spot in the Financial Times’ 2024 MBA program rankings.
Case studies are a popular teaching method in business schools, providing students with real-life examples for discussion on resolving organizational challenges.
The inclusion of “Nazuk Mor” in the title references a phrase often used in political rhetoric to highlight Pakistan’s persistent issues with political instability and economic volatility.
Since its inception in 1947, the country has grappled with recurring problems, including bailouts from the International Monetary Fund (IMF), loss-making state-owned enterprises, and high inflation.
Following the general elections on February 8, the Shehbaz-led government assumed power amidst allegations of widespread rigging. Reviving the economy stands as the primary challenge for the PML-N-led government.
In response to the country’s dire financial situation, the newly elected government has sought assistance from the IMF to prevent default.
Last month, Pakistan and the IMF reached a staff-level agreement on the second and final review of the $3 billion Stand-By Arrangement (SBA), which, upon approval by the IMF’s board, will disburse about $1.1 billion to the struggling South Asian nation.
