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Economy of Pakistan

Challenges and issues


What Is Economy?
• An economy consists of the economic system of a country or
other area, the labor, capital and land-resources, and
the economic agents that socially participate in
the production, exchange, distribution,
and consumption of goods and services of that area.
Economy of Pakistan
• The economy of Pakistan is the 27th largest economy in the
world in terms of purchasing power, and the 45th largest in
absolute dollar terms.
• Pakistan has a semi-industrialized economy, which mainly
encompasses textiles, chemicals, food
processing, agriculture and other industries.
Major Sectors
• Agriculture
• Industrial
• services
Industries
• Cement
• Electronics
• Sports good
• Cotton/Textile (largest Industry ) 66% exports and 44 % labor
force
• Fertilizers
• Sugar
• Steel
• Edible oil
Textile
• It is major industry based on agriculture, heavy textile industry
caters to domestic and external market. Major Centres are
Faisalabad, Multan, Lahore and Karachi. Woollen Cloth is
manufactured in Karachi, Lawrencepur, Harnai, Quaidabad,
Multan and Bannu.
Sugar
• Pakistan has made tremendous progress in this industry.
• It is a food item; agro based industry,
• located in Sindh, Punjab and Sindh
Iron and Steel
Steel Mill near Karachi was set up with the help of the former
Soviet Union.
The major problem was that of raw material.
The iron found in Pakistan is very poor in quality.
Steel rolling units and iron related factories exist in different
parts of Pakistan
Machine, tools:
• Heavy Mechanical Complex (HMC) Texla serve this purpose.
HMC was set up with Chinese cooperation.
• Machinery, industrial equipment, engineering goods, engines,
machinery for sugar, cement, and fertilizer industry is
prepared here
Edible Oil
• Vegetable Ghee, Cooking oil is a major food item. There is
much expansion over the years both in private and public
sectors. Now we are self sufficient, although some raw
material for making cooking oil is imported.
• About 60 units are in Sindh, Punjab and NWFP.
Sport Goods
• Sport goods are football, hockey sticks, cricket bat, volley ball,
golf ball, badminton rackets, basketball, boxing gloves
• 40 million balls are annually exported worth 210 USD
• Sialkot export 70% of world demand for inflatable balls
increased 7.8% in last year.
• Employment more than 200,000.
• Exporting goods worth $450 million.
Natural Resources
• Pakistan has natural resources
• Coal, Gas, Salt, Gold, Marble, Gam stones are big resources
• Marble industry provide a lot of employment
• Gold, copper Reserves is estimated to $260billion
Agriculture
Pakistan is one of the world’s largest producer of the following
crops
• Wheat
• Rice
• Mangoes, Dates, Oranges
• Cotton
• Onion
Agriculture
• 25% of the total land area is under cultivation and water b the
one of the largest irrigation system in the world
• 22% GDP
• Employs 44% Labour
• Zarai Tarqiati bank is the largest financial institution
Services
• finance,
• advertising,
• telecommunication
• Transportation
• Tourism
Tourism
• Pakistan with its diverse culture, People and landscapes has
attracted 75 million tourists
• Ancient civilizations like Mohenjo-daro, Harappa and Taxila
attract tourists
• Due to 2nd highest mountain it attracts adventurers and
mountaineers
• Hunza, kalash valley n their culture
• Mughal Architect
Private Sector
• Communication : Private mobile companies
• Banking : private banks
• Non profit organizations
• Multi national companies
Crisis In Economy
• The economy has suffered in the past from decades
of internal political disputes,
• a fast growing population,
• mixed levels of foreign investment, and
• a costly, ongoing confrontation with neighboring India.
• War on terror n terrorism within state
• Energy Power crises
• Inflation remains the biggest threat to the economy, jumping
to more than 9% in 2005 before easing to 7.9% in 2006.
• In recent few years, load-shedding has destroyed industrial
growth in Pakistan
Future Directions
• There is no escape from industrialization. It is a must for
prosperity and development.
• We are having Mixed economy with an emphasis on private
initiative. Privatisation and Foreign investment need
appropriate conditions:
• political and economic stability, infrastructure, less bottle
necks, corruption issue, low interest loans and state support
and above all security of investment.

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