In last 5 years Pakistan has experienced the adverse conditions as far as the economy concerned. And if we compare it with the countries sharing borders or locating in the same geographical region the unfavorable condition of the economy become more prominent. The growth rate in last 5 year drop down from 7% to 2.4% percent and if include GNP figure it looks more adverse. The last 5 years and continuity to now be the period where the democratic parties got the hold of managing state but the economic situation experience no progress either in many sectors the rate of downfall accelerated and many government organization are now at the living on government aids and loans to them. Railways and PIA are one of the examples.
Following is the highlight of economy in the last five years.
The country growth rate for the last 5 years is about 4.5% which is quiet low if compared with countries like China and India. And if we compare it with the last year growth rate which 2.4% than it reveals another fact that the economic growth is declining with time. And here is remedial measure has not been taken than economy is going to suffer worse situation in future.
The growth in agriculture sector which is one of the most important sector in the economy is showing no considerable growth in last 5 years, in spite of this in year 2008 and 2009, there is negative growth in major crop of Pakistan. And for the last 2 year heavy rains and flooding make thing more difficult. How ever the crop in last two years is better in productivity than the 2008-2009.
The manufacturing and mining sector show growth but with respect to the last few years it is declining, the growth in this sector during 2006 is 8.1% which reduces to 5.4% is current year showing declining rate in growth however such growth at 5.4% if continues have considerably positive impact over the economy. Heightened political tension, deteriorating law and order situation, growing power shortages,... [continues]
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