Economic Problems in Pakistan

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Recommended: Economic development and growth in Pakistan

Pakistan is a developing country in South Asia. It houses about 18 million people of the world. For most parts the living standard in this country is underdeveloped or in other words, still developing. Pakistan’s economy is divided into three major parts. According to statistics, agriculture is 21.2%, industry: 25.4% and services cover up to 53.4%. The country is disturbed by many kind of problems, militarily, politically, economically etc. These problems sum up and hinder the development. Pakistan has an inflation rate of 11% which is really high and it prevents it from becoming a first world country. Furthermore, the unemployment rate is about 7%, that is higher than average. According to heritage.org, Pakistan’s economy is ranked 126 in the world. The major problem in Pakistan is not the drone attacks or the constant conflict with India, but it is the economic hitches within the country.
Pakistan suffer from multiple economic problems. But perhaps the most devastating of them all is the shortage of electric power. This shortage not only effects the households but it also proves catastrophic for the industry. In summer the power outage can range from 10-18 hours depending on the location with major cities getting most of the power generated. This can lead to shutdown of the major industries in the country. With the industries not running full time, fewer employees are needed which leads to unemployment. This also has an impact on offices and people in services department. Some people are forced to attain other expensive power sources like UPS or portable generators for their daily work. All this causes fewer goods being produced. Fewer good means, lesser export and that harms the economy. However there is an easy solution to thi...

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... sports, the way the game is played and its outcome depend on the nature of the rules, the character of the players, and the fairness (impartiality) of the referee. Moreover the choices of the rules and the enforcement mechanisms will be affected by prevailing ideology and culture.”

Works Cited

"2014 Index of Economic Freedom." The Heritage Foundation. The Heritage Foundation, n.d. Web. 20 Apr. 2014.
Cree, Anthony. The Economic & Social Cost of Illiteracy: A Snapshot of Illiteracy in Global Context. Rep. N.p.: n.p., n.d. World Literacy Foundation. Web. 20 Apr. 2014.
North, Douglass C. "Policy: Institutional Economics." Growth and Welfare in the American past. 2nd ed. N.p.: Prentice Hall College Div, 1974. 56. Print.
"Pakistan Balance of Trade." Trading Economics. N.p., n.d. Web. 20 Apr. 2014. .

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