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Essay On Pakistan Economy

Pakistan Essay

861 Words4 Pages

Pakistan: Foreign Policy

Pakistan, a land of many splendors and opportunities, a repository of a unique blend of history and culture for both the East and West has been the cradle of one of the oldest civilizations. The Indus valley, is the ninth most populous Area in the world, with 134 million tough, conscientious, hard working people wishing and striving hard to enter into the 21st century as equal partners in the community of the different developed nations. During the last 20 years Pakistan's economy has been one of the fastest growing in the world-the seventh fastest in Asia (www.forisb.org/fpolicy).
Pakistan's economy has been becoming large on a worldwide scale, with the annual gross domestic product growing at more than six…show more content…

Pakistan now has a highly developed financial sector consisting of local as well as foreign commercial banks, investment banks, leasing companies, mutual funds and varies other fund companies. Besides providing working capital and long-term financing to the investors, these banks offer a number of facilities such as remittance of profits/dividends and maintenance of foreign currency accounts (www.mofa.com). Now because of this, various cities in Pakistan have developed stock exchanges with major corporations in the U.S.
Security in Pakistan has been a major issue since the origins of the country and its controversial creation.
The overriding objective of Pakistan's foreign policy is the safe guarding of its sovereignty, security and territorial integrity. This is underpinned by its firm adherence to immutable principles of interstate relations.
The violence accompanying the partition leading to the emergence of the two independent states of Pakistan and India generated hostility, which continues to afflict relations between the two countries, mainly because of the unresolved issue of Jammu and Kashmir. The issue is the source of continuing tensions and conflict, and shaped the unstable and tense security environment in the region. The historical

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Economic Development Of Pakistan Essay

Since its inception, Pakistan faced too many ups and down in the economic development. The economic development depends upon too many factors like, natural resources, human resources, capital, population employment etc. Pakistan is considered as a 6th most populated country in the world. Population always plays double role in the formation and deformation of the economy of the country. It always provides labor force for the development of the economy, on the contrary to this; it hampers the economy in form of unemployment.

Fiscal Development

The fiscal development is considered as one of the most important part of the economic development of the country. The current government of Pakistan focused on the fiscal development by getting charge of the office in 2013. The fiscal year 2013-14, all major indicators showed significant improvement and the GDP shows an improvement of 4.3% and fiscal deficit remains at only 5.5%.

Population

It is the most important indicator of the economic development of the country but in the case of Pakistan it shows negative improvement. The current population of Pakistan is almost 191.7million people with a growth rate of 1.92% per annum. It is a burden on the economy of Pakistan.

Natural Resources

It is a fact that the growing nation of the world all focused on the development and maximum utilization of natural resources. Pakistan has abundance of natural resources and lack of the utilization of the resources. These resources may put the economy of the country to the list of developed country.

Education

Education is considered as a backbone of the country. Pakistan’s economy is an underdeveloped and they need to be more focused and specified to the field of education. The current literacy rate of Pakistan is almost 58.3%. The current Government of Pakistan started Millennium Development Program (MDP) to enhance the literacy rate of the country because it is low as compared to developing countries. The improved standards of education may help in the formation of better economic system of the country.

Poverty

Poverty is considered as one of the important obstacle in the progress of economic development of the country. In Pakistan almost 39% people are living below the poverty line. Below the poverty line means people don’t have access to their basic needs of life. To get the progress in the economic development Pakistan should have to obsolete the manacle of poverty.

Technology

It is the era of technological development and advancement. Pakistan is not winner of the technological advancement. It is the need of the hour that Pakistan should have to compete in technology and improve its economy by utilizing advanced technology.

Conclusions

To summarize, Pakistan have plenty of natural resources, human resources and somehow capital. These all are basic ingredients for the improvement of the economy of the country. The need of the hour is to convert these resources into efficient and useful manners to utilize these in the formation of the development of the economy of the country. Without converting these resources into efficient resources Pakistan’s economy can’t be developed.