New Delhi, Aug. 20 -- Pakistan is in a state of poly-crises and is hardly managing them, or rather, crushing and diverting attention by playing survival geopolitics with slim substance. On the economic and security fronts, Pakistan is almost exhausted. On the economic front, a high-risk cycle of structural stagnation and intense financial strain persists. The deep crisis is worsening as total debt remains at a historic high of nearly $290 billion (PKR 83.6 trillion), forcing the state to spend most of its tax revenue on debt servicing.

On the security front, Pakistan's western front is almost collapsing due to continuous terror strikes by the TTP and BLA. To top that, socio-political instability in Pakistan, especially at the western fro...