Pakistan economy then and now

Pakistan being under developed country has crossed many leaps n bounds. It crossed infra structure economy wise.

Pakistan being independent state has tried to increase its revenue of income by expanding its imports and exports and has gone at world level standard in goods quality.

If we recall last ten years , it has crossed many boundaries  through high income from lower state of economy to upper scale.

Pakistan is very beautiful land in which Allah Almighty has bestowed us many blessings which are seen in four seasons through landmarks. With that, Allah says in Quran one has to struggle to attain to higher degree of level. Its hard work and dedication of nation to increase economical condition in better way. Though main concern is government application in fields by applying laws and rules.

If we check the results of budget and GDP values since last 10 years , we come to know how far we have moved in our state to make our country much better. Ups and downs are part of struggle but still we have to urge and we have to go very far to move our economy to international highest GDP, that’s possible with low corruption rate and higher index of tax payment to country wealth and by taking less loans and increase our revenue.

If we check GDP value in 1999,it was $82,514 million which is far more less than today..Pakistan stands at 45 in ranking of GDP of 195 top GDP countries list.per capita it was $624.

Pakistan’s economy continued to grow for year 2018,reaching 8.5 percent by value which is far higher.

Inflation rate was 10.9% by 1999 and now it is 7.64%, it shows economy is higher and steadily we are moving to higher index.

If we check economy of Pakistan by cities and villages, our country is relatively poor as its economy of health situations and city side is more developed that is 40 million people are living under poverty line and 30 million people are rural based.

If we increase revenue of education to rural side by giving higher capita per district, it might increase our economy as whole.

Ofcourse, city has to be at higher state condition economically as well situationally and by revenue of education and income . But still government sectors can increase their per capita income at rural side by increasing their educational approaches easier for kids by facilitating more to educational sector in budget, that’s how it gets revolutionary and income will revolve around.

In today’s budget for education 20.5% services are reduced. Making it more higher in revenue .

In 1999,1.7% of GDP was allocated for budget of education by referring to government% as 7.6% and making it developed by 4.5%.

Now budget is more highly increased and incomes are allotted better with educational tasks. People can get to higher posts easily by achieving certain level through rural districts too.

Pakistani foreign trade is paying a lot to economy by increasing its revenue. Countries which are at higher indexes are trading with Pakistan like China, Europe, United Arab Emirates, Kuwait ,Malaysia, Japan and Singapore.

China is best partner regarding this since decade. It has made a road way as our borders coincide ,it has brought a great venture in our industry by increasing and giving higher revenue.

Trade loss has narrowed to $664 million to current state, from 71% drop from 2018 year july index.

Current account deficit value has reduced to$579 million.

Similarly debt plays a big role in any country’s indexes, which has to be paid now or later by cutting down our current needs of industrial values. That’s a rough structural ideal forum to be discussed by any country with increased indexes or share values.

Foreign debt rose to $55.9 billion by end of June 2010 and it lasted to $59.5 billion by end of March , 2011.

At current, as of March 2019, our external debt of Pakistan is around US $105 billion that’s double than that of last decade.

Which includes international monetary fund, international ponds fund such as Euorobond fund and sukuk as well Paris club owes certain more amount.

Pakistan has to get $6billion IMF life line to make economic condition on easy terms. So, has reduced $6 billion. Still there’s some fund which needs approval from IMF’s management for next 3 years.

Pakistan is relatively more developed in demographic, cultural and health nutritious values but is less developed in housing, education and political science. As a whole we occupy 84th position in 3rd world.

Since our independence poverty is reduced historically in cities and more in rural sides. Pakistan has merged as semi-industrialized one, whose assets are its textiles, agriculture and food production level.

If we check our diversification, our scale is gone higher in technologically.

Our government is trying hard to make it better, still hands to our Almighty side to push our scale higher in world level. People are more generous though a bit conservative on knowing economy scale to make it higher. But now educated people coming ahead and stepping towards upper level to make our country more stable.