By: Haroon Baloch Good governance has been receding in Pakistan and tensions are mounting. The public has cherished its civilian rule during the past three and a half years, and has seen a debilitating yet resilient economy, maintaining a 2.5 percent growth rate. Still, external debts have crossed $64 billion, unemployment hovers over 6.2 percent, and the poverty rate, at 37.5 percent, is increasing with double figure inflation. Once thought to be the next Asian tiger, as was former Prime Minister Mian Nawaz Sharif’s dream for Pakistan, the country is now considered a struggling economy in South Asia. During the 1990s, Sharif vowed to reduce corruption, improve infrastructure, and encourage growth in modern technologies. He privatized banks and industries, suspending the policies of nationalization promoted by former Prime Minister Zulfiqar Ali Bhutto in the 1970s. However, even with these changes, institutions in the country were never strengthened. In the 90s, the co...
Comments
Post a Comment