The Economy of Pakistan is some how interesting topic to talk about and to know about, because you come across with the unending challenges provided limited resources, one have to have a strong back ground of economics to face such a big challenge, because studying the economy of Pakistan is it self a very challenging task. Its pretty interesting to know about the Economy of Pakistan, where you come to know about not the boom of the business but always recessions, you do not come across with the word recovery but depression, yes and this is absolute reality , going across the statistical data you will come to know that economic growth have been substantially decreasing over the last many years, expect for few where there is a satisfactory growth.
GDP growth rate remain 3.7% for the FY 11-12, although it is more as compare to 3% which was for the last year, but it is not satisfactory, which is as a result of the many negative externalities which are internalized in the GDP.
The reasons behind the poor condition of the economy of Pakistan includes, inefficient politics, war on terror, under utilization of resources, natural disasters which hit our country on cyclic basis and above all due to the lack of efficient economists like me 🙂 on the other hand the gift of circular debts gifted to the nation by the governments of different realms is an another debatable issue.
Unfortunately the economy of Pakistan is in the hands of the politicians who do not have only a poor back ground of their academics rather most of them appear with the fake degrees, where as to have a economic progress you have to have good economists not the best politicians. In spite of all these realities, when we go through the economic survey of each year it starts with the declaration that the government is focused on progressing its economic situation which includes increasing exports, maintaining growth, focusing most vulnerable groups and the regional stability. If the government truly dedicates it self to such positive change than why do not we find such outcomes in the economy, why do many of the people are dying due to hunger, why hundreds of the the people on daily basis commit suicide due to the failure to fulfill their needs, does economic progress means paying attention to the bureaucratic, does it includes the safety of the lives of elite class which are already in the safety net? than what does the statement means to improve the economic situation of the most vulnerable group. If they do not prove practically what they say, it is highly recommendable to change their statement at least it should not be published in the Economic Survey.
This is such a vast topic which is hard to be concluded but it must be concluded with the words that the system needs to be changed, there is availability of every thing but scarcity of the positive efforts.