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Economic meltdown

Pakistan initiated economic stabilisation and structural reform programmes in 1988. In an effort to reduce internal financial imbalances and external deficits, however, there have been challenges with consistency and hierarchy in the implementation of these policies. The millennia 1988–1996 were marked by persistent attempts to stabilise the economy while making mediocre structural improvements. Because policy initiatives failed to accomplish their goals, the Pakistani economy remained mired in a cycle of poverty, slow growth, low savings, and capital inefficiency, which further impeded growth and the reduction of poverty.