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Pakistan's 'Nazuk Mor' becomes topic of Case Study at Harvard Business School

10:05 PM | 15 Apr, 2024
Harvard Business School
Source: Harvard Business School website

Even 77 years after its creation, Pakistan is going through the Nazuk Mor (critical phase). Unbearable inflation, steep increase in utility bills, heavy taxes, corruption and ever increasing external debt have crushed the ordinary people of the country. However, the powerful elite class is still enjoying all the perks and privileges and those at the helm of affairs are amassing assets abroad despite an acute economic crisis at home.

Since its birth in 1947, Pakistan is facing the same old issues in 2024. The country is still seeking bailouts from the International Monetary Fund (IMF) and trying to sell state-owned entities to make the ends meet.

This situation in Pakistan drew the attention of foreign educational institutions as they decided to teach it as “case study” to future leaders and managers. The case study titled “Pakistan at 75: When Will the “Nazuk Mor” End?’ is for use in Professor Alberto Cavallo’s the Business, Government, and the International Economy — Spring 2024 at Harvard Business School.

According to the Financial Times' world rankings 2024, the school’s MBA programme secured 11th spot. Case studies are a common method of teaching in business schools and used by professors to present students a real-life example, followed by discussions on how to resolve issues facing the entity.

This case study makes the reference to Nazuk Mor in its title, a phrase rather repeatedly used in political sloganeering. It conveys Pakistan’s persistent problems with political instability and boom-and-bust economic cycles. 

After the February 8 general elections, Prime Minister Shehbaz Sharif-led government emerged in the country amid allegations of “massive rigging”. Recovering the country’s economy is the biggest challenge of the PML-N-led government. The newly elected government in the cash-strapped country approached the IMF to avert the looming default.

Last month, Pakistan and the IMF reached a staff-level agreement on the second and last review of the $3 billion SBA. If cleared by the global lender's board, the IMF will release about $1.1 billion to the struggling South Asian nation.    

Daily Pakistan Global Web Desk

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Today Open Market Currency Rates in Pakistan - Rupee to US Dollar, Euro, Pound, Riyal - 21 May 2024

Pakistani currency rates against US Dollar and other currencies on May 21, 2024 (Tuesday) in open market.

USD to PKR rate today

US dollar was being quoted at 277.7 for buying and 280.35 for selling.

Euro moved up to 298 for buying and 301 for selling while British Pound rate is 350.5 for buying, and 354 for selling.

UAE Dirham AED was at 75.25 and Saudi Riyal came down to 73.50.

Today’s currency exchange rates in Pakistan - 21 May 2024

Currency Symbol Buying Selling
US Dollar USD 277.4 280.35
Euro EUR 298 301
UK Pound Sterling GBP 350.5 354
U.A.E Dirham AED 75.25 76
Saudi Riyal SAR 73.5 74.25
Australian Dollar AUD 183 184.80
Bahrain Dinar BHD 739 747.8
Canadian Dollar CAD 203 205
China Yuan CNY 38.51 38.89
Danish Krone DKK 40.53 40.65
Hong Kong Dollar HKD 35.65 36.31
Indian Rupee INR 3.34 3.44
Japanese Yen JPY 1.91 1.99
Kuwaiti Dinar KWD 913.28 922.28
Malaysian Ringgit MYR 58.69 59.29
New Zealand Dollar NZD 169.45 171.45
Norwegian Krone NOK 25.67 25.97
Omani Riyal OMR 730.59 738.59
Qatari Riyal QAR 76.41 77.11
Singapore Dollar SGD 203 205
Swedish Korona SEK 25.67 25.97
Swiss Franc CHF 309.01 311.51
Thai Baht THB 7.57 7.72

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