Long-run Growth in Pakistan Ashoni Kumar April 26, Abstract: Growth rate of Pakistan over the past sixty years have been both impressive as well as disappointing too. The reason why the economy is recognized being impressive is because of the rapid growth rate that had its quadrupling impact over per capita income as well as reduction in the poverty Feb 03, · Economy of Pakistan. Topics: Economics, Peak oil, Economic growth Pages: 6 ( words) Published: February 3, Introduction. Pakistan was established in and since its inception; it has been surrounded by countless issues, some of which are confined to ill-formed/missing infrastructure, insufficient refined resources, barren or obsolete factories and technologies, the Jan 01, · Pakistan’s economy has been ragged by two back-to-back crises. The global fuel and food price hikes twisted severe macroeconomic complexity as public finances worsened, inflation climbed, and economic growth slowed down
BA English Essay: Economy of Pakistan – Pacans Pakistan
edu no longer supports Internet Explorer. To browse Academia. edu and the wider internet faster and more securely, please take a few seconds to upgrade your browser. Log In with Economy of pakistan essay Log In with Google Sign Up with Apple. Remember me on this computer, economy of pakistan essay. Enter the email address you signed up with and we'll email you a reset link. Need an account?
Economy of pakistan essay here to sign up. Download Free PDF. Economic Crisis of Pakistan Essay Outline. Sohail Ahmad. Download PDF Download Full PDF Package This paper. A short summary of this paper. com Essay on Economic Problems of Pakistan Jan. Introduction: The dismal economic picture. Low economic growth rate. Declining investment in manufacturing sector De-industrialization Neglected informal agriculture sector.
Neglected informal economy. Energy crisis and decaying infrastructure. Shrinking Foreign Direct Investment FDI. Sluggish Revenue collection Low Tax collection Tax-to-GDP ratio. Corrupt and inefficient tax collection economy of pakistan essay. Rolling Debt and Balance of Payment crises.
Burgeoning budgetary deficit. Excessive borrowing. Devaluation of rupee. Current Account deficit. Implication of worsening law and order situation on overall economic growth Bad law and order situation is hampering economic recovery.
Huge sums are to be allocated to defence and scanty apparatus at the cost of social and developmental projects. Political instability Weak and corrupt central government. Clash-like situation between state institutions. Corrupt system of governance Structural and institutional fault-lines. Fiasco of policy implementation.
Faulty trade policy and economy of pakistan essay. Trade deficit Declining exports. Increasing import bill. Loss making public sector enterprises PSEs Effects of bleeding economic out look Low human development index. Increasing inflation. Poverty trap widened. Brain drainage. Toll on overall social development, economy of pakistan essay.
Suggestion to salvage the economic recovery Need to improve security situation. Need to introduce structural and organizational reforms in the economic model.
Need to promote regional trade. Sound economic and trade policy. Domestic resource mobilization and domestic trade need to be promoted.
Establishment of special economic zones SEZs. Public-Private partnership for economic growth. Human resource and skill development. Translating socio-political positive developments into public policy i. Conclusion: Economic growth and social development should go side-by- side!
The economic problems of Pakistan have seriously jeopardized the very foundations of its polity. Due to dismal economic performance over the year, economy of pakistan essay, the socio-political and institutional development of the Pakistan society have been stalled and the security, sovereignty and territorial integrity of the state are mortgaged at international lending institutions. The low economic growth rate is not just a game of numbers, it has serious repercussions for human development.
Dismal economic growth signifies that the gap between the rich and the poor is widening; millions are going jobless, unemployment is rising, inflation is sky rocketing, provisions of health and educational facilities are few and far between and every year millions more are pushed below the poverty-line. Successive governments have failed to formulate a viable and pro-poor economic growth model. The fatal fault-lines in the economic framework have hampered the sustainable economic recovery.
The sluggish economic outlook is characterized by a number of factors. They include inter alia slow economic growth, decline in Foreign Direct Investment FDItrade deficit, de-industrialization, economy of pakistan essay, energy crises, political instability, unemployment, development, increasing public debt, devaluation of rupee, corruption, bad governance and security situation etc.
The present regime has miserably failed to improve any of the sectors responsible for the economic hardships of the nation. At the moment our economic system is standing at the verge of collapse. In the coming pages, we will try to explore the causes of economic problems; their effects on the socio- political landscape of the country and finally discuss same suggestions to salvage the economic recovery.
The growth rate of about 3. The government in its budget scheme projected the growth rate at 4. The International Monetary Fund IMF estimated growth rate is lowest in South Asia, even behind Bangladesh and Sri Lanka.
The low economic performance leads to wide-spread unemployment, poverty, malnutrition, inflation etc. About one million young people enter the labour force of the country every year, economy of pakistan essay, to absorb such a huge proposition of unemployment youth in jobs, we need to have at least 7 percent economic growth rate for at least five years.
The current trend, however, is just compounding the joblessness and pushing millions move into the economy of pakistan essay trap. All these hardships are hampering investment, both domestic and foreign in employment generating sectors, i.
manufacturing sectors. There are reports that a number of textile manufacturers have relocated their industry in other countries such as Bangladesh, Vietnam, Sri Lanka and Tanzania etc.
The Government and the economic managers should be mindful of the fact that de-industrialization has heavy toll on the social development of a society.
When a factory is shut down either temporarily because of frequent power outages or permanently shifted to another destination—hundreds and thousands of households are forced to starve until their bread-winners have a new job. Apart from its implications on human development, de-industrialization or low industrial growth has serious repercussions for over-all economic development.
Economic survey of Pakistan has estimated that the manufacturing sector is employing 14 percent of the workforce, and contributing about 63 percent of taxes and making 25 percent of the GDP. Another equally neglected area is the agriculture sector that employs 45 percent of the workforce contributes 22 percent to the GDP and paying only 1 percent in income tax.
This sector requires urgent reforms in terms of redistribution of cultivable land, bringing the sector into the tax net and improving the lot of the less fortunate peasantry.
But added value of the crops jumped to Rs. Inspite of this increase in value, no economy of pakistan essay taxes are forthcoming. Moreover, the substantial share of profits from agricultural proceeds is pocketed by landed gentry, economy of pakistan essay. More often than not, they are at the driving seat of the political system of the state as well. The land mafia is running the political show of the country in a way that furthers its vested interests.
They discourage social and infrastructure development projects in their areas rather fiefdoms. The gist of the matter is that the present politico-economic order favours the perpetuation of vested interests of the elitist groups in Pakistan today. The informal sector of economy, like agricultural, small and medium enterprises and services sectors employees more than 60 percent of the workforce, it contributes about 35 percent to 50 percent of the GDP.
This sector has yet to see the necessary reforms and regulations. According to an International Labour Organization report, the workers employed in the informal sector are more vulnerable to exploitation.
They are paid low wages, maltreated, over-worked and are not covered by social security nets. Tax evasions are rampant. The economic and political administrators need to pay special attention to modernize and regularize this expanding sector. The services sector, nevertheless, is a redeeming feature of the struggling Pakistani economy. This sector has seen phenomenal growth over the decade. This sector telecom, banking, real estate development marketing—contributes more than 50 percent of economy of pakistan essay GDP.
Its share in jobs and taxes is 41 percent and 36 percent respectively. These sector employees are educated and trained workforce. A sustainable economic growth requires a balanced growth in all the sectors of the economy. It further requires reforms in the total system, reforms in energy sector.
Essay on blogger.com statement on economy of blogger.com a thesis statement . CSS/PMS essays.
, time: 8:47Economy of Pakistan - Words | Bartleby
Economical Condition Of Pakistan Economics Essay CHAPTER 1 INTRODUCTION Introduction: The economical condition of Pakistan from last three to four decades is instable due to war and terror situation. That is why negative effect of economy and prices are not stable Economy Of Pakistan Essay. While the free essays can give you inspiration for writing, they cannot be used 'as is' because they will not meet your assignment's requirements. If you are in a time crunch, then you need a custom written term paper on your subject (economy of pakistan) Here you can hire an independent writer/researcher to custom write you an authentic essay to your specifications Essay: “Pakistan is facing a challenging economic out-look (decisive and far-reaching policy action is needed to address this challenging out-look,” said the International Monetary Fund (IMF) in its annual report). The economic problems of Pakistan have seriously jeopardized the very foundations of its polity
No comments:
Post a Comment