Pakistan’s Economy: Challenges and Prospects
PRESENTATION ON
Pakistan’s Economy: Challenges and Prospects
By Dr. Ashfaque H. Khan Principal & Dean NUST Business School B siness National University of Sciences & Technology, Islamabad.
At: The I i Th Institute of Chartered Accountants of Pakistan (ICAP) f Ch dA f P ki and CFO Conference 2012, Karachi, Marriott Hotel, March 28, 2012
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Outline of the Presentation
E Economic C diti i Conditions i 1947 in Ups and Downs In Pakistan’s Economy Recent Challenges Where are we today? Pakistan’s Economy in the Next two years (2012 13 & Pakistan s (2012-13 2013-14) Major Issues j Way Forward
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What Kind of Challenges Faced by Pakistan in 1947
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The influx of refugees from India created insurmountable problems as the country had no resources to meet this challenge The migration of Hindu and Sikh communities from Pakistan nearly paralyzed the economic and administrative machinery.
The head office of only One Pakistani owned bank was located in Pakistani territory
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The Karachi Port was underdeveloped and most of Pakistan’s trade routed through the Indian ports of Bombay and Calcutta India refused to release allotted share of cash balance of undivided India to the tune of Rs 75 crore (Rs 750 million) for (Rs. running the civil administration. After a long battle India released a much smaller amount than the legitimate share of Pakistan
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The share of agriculture in GDP was 60% in 1947. Today, it contributes 22% and 78% contribution comes from industry and services Production of wheat was 4.0 million tons in 1947. Today we are producing over 23-24 million tons - almost 6 times more Production of cotton was approximately 1.0 million bales in 1947. Today we are producing close to 13.0 -14.0 million bales Production of sugarcane was 10 million tons in 1947. Today we are producing over 55-60 million tons
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Out of 14,569 industrial establishments in British India in 1947, only 1406 units (less than
Pakistan’s Economy: Challenges and Prospects
By Dr. Ashfaque H. Khan Principal & Dean NUST Business School B siness National University of Sciences & Technology, Islamabad.
At: The I i Th Institute of Chartered Accountants of Pakistan (ICAP) f Ch dA f P ki and CFO Conference 2012, Karachi, Marriott Hotel, March 28, 2012
0
Outline of the Presentation
E Economic C diti i Conditions i 1947 in Ups and Downs In Pakistan’s Economy Recent Challenges Where are we today? Pakistan’s Economy in the Next two years (2012 13 & Pakistan s (2012-13 2013-14) Major Issues j Way Forward
1
What Kind of Challenges Faced by Pakistan in 1947
2
The influx of refugees from India created insurmountable problems as the country had no resources to meet this challenge The migration of Hindu and Sikh communities from Pakistan nearly paralyzed the economic and administrative machinery.
The head office of only One Pakistani owned bank was located in Pakistani territory
3
The Karachi Port was underdeveloped and most of Pakistan’s trade routed through the Indian ports of Bombay and Calcutta India refused to release allotted share of cash balance of undivided India to the tune of Rs 75 crore (Rs 750 million) for (Rs. running the civil administration. After a long battle India released a much smaller amount than the legitimate share of Pakistan
4
The share of agriculture in GDP was 60% in 1947. Today, it contributes 22% and 78% contribution comes from industry and services Production of wheat was 4.0 million tons in 1947. Today we are producing over 23-24 million tons - almost 6 times more Production of cotton was approximately 1.0 million bales in 1947. Today we are producing close to 13.0 -14.0 million bales Production of sugarcane was 10 million tons in 1947. Today we are producing over 55-60 million tons
5
Out of 14,569 industrial establishments in British India in 1947, only 1406 units (less than