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Pakistan's Untold Economic Story
Keywords:
Tags: Current Focus, India,
Pakistan's GDP growth is expected to be 4% in 2012, an increase from 2% in 2011. Foreign exchange reserves are up to $18 billion. Repayments in 2015 to the IMF will be a quarter of the payment in 2012, says Finance Minister Abdul Hafeez Shaikh. Tax collections are up 24% for the first 9 months of the fiscal year 2012. Remittances from Pakistanis aborad are up 21% to $9.7 billion and exports up 5.5% over the $25 billion exports for 2011. In an WSJ op-ed, April 16, 2012, Michael Boskin,who helped negotiate the North American Free Trade Agreement for the elder President Bush, says it is time for a free trade agreement between India and Pakistan. Shaikh says he expects to see trade with India up from the insignifcant levels of $2.7 billion in 2012 to $10 billion by 2015. Boskin sees the potential for trade at $50 billion based on trade models. This would help change the landscape in the South Asian region after decades of neglect, strife and conflicts and is long overdue to benefit the billion people on the subcontinent.
Abysmal tax collection in Pakistan and the lack of economic development.
07/18/2010
Tax collection in Pakistan is one of the poorest in the world. This widens the quality of life for the vast majority of people and an afffluent few who run business interests and have agricultural holdings. Infrastructure and essential services such as power and water, roads and health care, all suffer, as a result.
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The failure of Islam as astate ideology to give Pakistan peace with its neighbors, and to modernize Pakistan. Instead of working it has proved dysfunctional and led to failures in economic development, failure in building ademocratic state, and left the country in abackward state with many divisions along political and tibal lines. The new identity being sought would keep Islam out of politics and set new priorities.
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Obama's Cairo speech set the tone. But realities on the ground such as achieving reconciliation and efforts to work together among all political parties and factions as the US leaves Iraq, is crucial to set a new direction on the ground. Friedman says Iraq, Pakistan and Afghaistan are part of the same war. And he points out what other experts are saying that in Afghanistan what is done there stays there. Baghdad has the potential for setting anew direction for the Muslim world, as it has been a centre of education, culture and influence in the Muslim world, in the manner Cairo has.
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Michael Boskin on the pressing need for a free trade agreement between India and Pakistan
01/06/2008
Boskin says trade models suggest that with normal trade under a free trade agreement India and Pakistan's trade would grow from $2.7 billion today to $50 billion, and be 20 times larger. India-Pakistan trade is smaller today than trade between India and Sri Lanka. Boskin was head of the elder U.S. president Bush's Council of Economic Advisors and instrumental in setting up the North American Free Trade Agreement (NAFTA).
Grouped Articles
Pakistan Gives Sharif a Mandate
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Pakistani Leader Pursues India Ties
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A Summer of Troubles Saps Indiaâs Sense of Confidence
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How Emerging Markets Can Get Their Mojo Back
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Ex-Envoy Says Misunderstanding Runs on Both Sides of U.S.-Pakistan Ties
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Pakistan to Ease India Trade Limits
Wall Street Journal 03/01/2012
Business and manufacturing in Pakistan - 2010-2014
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Grouped Articles
Pakistan Gives Sharif a Mandate
Wall Street Journal 05/12/2013
In Pakistan, Echoes of American Betrayal
New York Times 07/31/2010
Power Outages Hobble Pakistan's Biggest Exporters
Wall Street Journal 12/01/2013
Pakistan Bank Chief Quits as Economy Stalls
Wall Street Journal 01/31/2014
How to Succeed in Business in Pakistan
BusinessWeek 07/21/2011
Pakistan to Ease India Trade Limits
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Maleeha Lodhi on the path to a brighter future for the people of Pakistan
05/07/2011
Linked Articles
Economist 05/07/2011
Pakistan's Untold Economic Story
Wall Street Journal 04/24/2012
The Way Out for the U.S,. Europe, India and Pakistan- Boskin and Shaikh push for expanding trade and a free trade agreement
04/16/2012
A way out of conflict, wasted resources, and misshaped priorities, through a strong push for expanded trade and a free trade agreement between India and Pakistan. After several generations of conflict a way out. An opportunity to do in South Asia what happened between France and Germany under Adenauer, Monnet and De Gaulle. The Shaikh-Boskin proposal calls for expanded trade between India and Pakistan, and a free trade agreement between the two neighbors similiar to NAFTA in North America, and the European Common Market in Europe. This would generate a surge in growth in South Asia similiar to what happened in China in the last two decades and create new opportunities for hundreds of millions of people in South Asia.
Linked Articles
Pakistan's Untold Economic Story
Wall Street Journal 04/24/2012
A Passage to India-Pakistan Peace
Wall Street Journal 04/16/2012
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