Road accidents and the economic burden.

Byline: S. Kamal Hayder Kazmi

Throughout the world, roads are shared through buses, cars, trucks, motorcycles, mopeds, pedestrians, animals, taxis, and other travelers. International experts revealed that travel made possible through motor vehicles supports economic and social development in various states. Yet each year, vehicles are involved in crashes that are accountable for millions of deaths and injuries. Whether you're on the road at home or abroad, know the risks and take steps to protect your health and safety.

According to the World Health Organization (WHO), road accidents in Pakistan claimed 27,500 lives and injured a predicted 500,000 people in the year 2016. The figures showed that the number of casualties because of traffic accidents is three times higher than other causes of death. The 15-29 year age group was found to be the most vulnerable in traffic accidents.

In middle-income countries, statistics also revealed that financial losses because of traffic accidents are predicted to be greater than 5 percent of GDP. According to Pakistan's Ministry of Finance and the World Bank, Pakistan's GDP is probable to rise by Rs360 billion in 2020. Taking into account that 3 percent GDP increase, traffic accident casualties would hurt Pakistan's economy by about US $ 11 billion in 2020.

But interestingly, the Moody's Investors Service upgraded Pakistan's credit rating outlook to stable, with an accompanying report saying it reflected the country's relatively large economy and robust growth potential. The change in outlook to stable is driven by Moody's expectations that the balance of payments dynamics will continue to improve, supported by policy adjustments and currency flexibility. Such developments reduce external vulnerability risks, although foreign exchange reserve buffers remain low and will take time to rebuild.

The experts also calculated that the Government of Pakistan, on the recommendation of the National Highways and Motorway Police (NHandMP), has consequently accepted modifications in fines imposed on national highways and motorways for traffic violations. According to official NHandMP sources, the revised twelfth schedule of the National Highway Safety Ordinance 2000 will be effective from January 1, 2020.

The schedule would apply only to national highways and motorways and will not be applicable to highways or roads that come under municipal authorities of provinces, cities, and towns. The current penalties have been...