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Is economy entering recession? | Pakistan | News | Newspaper | Daily | English | Online
Agreed, that some of the macro-indicators in Pakistan are showing healthy trends or resilience, exports are up, current account deficit is down, remittances are climbing, reserves are stable and the Pak Rupee is holding out, but gauging from the manufacturing and productivity figures over the last two quarters could Pakistans economy be finally sliding into a serious recession?
Riding on the back of some positive figures, the economic managers have thus far not only been blowing their own trumpet of success, but also literally ignoring and mocking their critics, who have tried to draw their attention to the missed opportunities and rather weak economic scaffolding that can simply crumble one day without warning like a house of cards!
Based on industrial production and productivity (especially in the small and medium enterprise sector) Pakistans economy contracted by nearly 4 percent - much more than expected - for at least two quarters running now, which basically means that technically we have already entered recession.
Going by this, the big question actually should be that does the country have the political and economic will to fight its way out? The data underlines how the worst natural disaster (floods) to hit Pakistan in decades has foiled all hope of recovery and how the governments addiction to borrow and the absence of visionary economic policies have contributed to the decline leaving the country in a vicious trap of high debt and a low growth amidst a rapidly rising population.
The global scenario is not helping either. Serious downturns both in the United States (where the predictions of recovery continue to be proven wrong) and the Western European economies, the two main markets for Pakistani goods, mean that the coming months for Pakistani exporters will be even tougher.
All political endeavours on trade not aid and preferential market access in lieu of our help in the war on terror have also not been fruitful so far. What this basically tells us is that to avoid sinking we need to look inwards and start taking our own measures to embark on a path of economic recovery before the recession turns into an economic quicksand. Time and again, I have pointed out to the examples of China, India and Bangladesh, who have consciously maintained focus on manufacturing at home as their ticket to sustained economic activity and job creation.
To help keep their engine of the industry running all related state and private sector institutions, banking/financial, power and energy, human resource, commerce and trade, have played their due role.
Before USA gate crashed Afghanistan..your economy was flat ..growing at 2%.. not very different from situations these days.
It is only after USA gatecrashed Afghanistan and American money started flowing into Pakistan , your debts were written off, sanctions removed.. that your economy picked up ..alas the temporary high economic growth was but a bubble which burst at first signs of global recession leading to the situation now.
if ASIANS want peace in south Aisa... CUT OFF - KICK of USA from each n everything ....
"eek gandi machli poray telaab ko ganda karti hey" thats what USA! in ASIA
either your innocent my friend or a ignorent.keep this in my future that pakistan economy was growing with 7-8% growth till 2005 and even after the massive earth quake we were able to achieve 7% growth even in 2007.but due to too much terrorism and instability in pakistan our growth rate is infront of you.before the WOT we were growing with economy growth only 2nd to china.i cant give you the link because i am from mobile but go to google and search that china has got a new growth challenger.their you will see that pakistan was growing with 8.4% and china with around 9% and india growth rate was 7.9%.so this prove that before the us aid and before the WOT START we were growing many times better than now and i have personally calculated the gdp by average 7% growth rate and i found my result 228bn usd till 2011 june.and look now we are standing at 192bn usd.so because of usa we started wot and in return we lost not only billions of dollar not just the economic growth.wo lost our image.we got the title of a terrorist nation.↲whatever but we will bring pakistan back to the 2005 like pakistan.InshALLAH
1)Kick the US out
2) Get Kashmir and form strong relations with India give them srilanka as gift
3)Get rid of democracy and hang Bilawal just for sake of making a point
Do these and nothing can stop Pakistan from growing again.
either your innocent my friend or a ignorent.keep this in my future that pakistan economy was growing with 7-8% growth till 2005 and even after the massive earth quake we were able to achieve 7% growth even in 2007.but due to too much terrorism and instability in pakistan our growth rate is infront of you.before the WOT we were growing with economy growth only 2nd to china.i cant give you the link because i am from mobile but go to google and search that china has got a new growth challenger.their you will see that pakistan was growing with 8.4% and china with around 9% and india growth rate was 7.9%.so this prove that before the us aid and before the WOT START we were growing many times better than now and i have personally calculated the gdp by average 7% growth rate and i found my result 228bn usd till 2011 june.and look now we are standing at 192bn usd.so because of usa we started wot and in return we lost not only billions of dollar not just the economic growth.wo lost our image.we got the title of a terrorist nation.↲whatever but we will bring pakistan back to the 2005 like pakistan.InshALLAH
you should try stand up comedy
Humor is automatic when you live so close to the world's source of poppy.