How a flourishing Pakistan economy has been destroyed by fiscally inept policies of the Zardari/PPP government. Despite, record exports, deficit spending almost 40 percent, has dried up investments and made credit unavailable for consumers.
Pakistan economic review projects that because of strong economic policies taken up by Pakistan government manufacturing and financial services sectors have flourished in fiscal 2008.
Economic review of Pakistan shows that there has been a growth rate of 7 percent per year for four successive years till 2007. Though Pakistan is a poor country, yet its growth rate has been better than global average growth rate.
As per economic review in Pakistan several economic reforms that have been taken up in recent years helped in its economic growth. Economic review at Pakistan shows that there has been improvement in currency reserves and foreign exchange reserves of Pakistan have developed. In present situation of recession, however, growth in economy of Pakistan has been held back a little bit.
Economic review of Pakistan has been focusing in recent times on how to deal with economic recession. Syed Yousaf Raza Gilani who is Prime Minister of Pakistan has initiated a number of procedures to address regional economic imbalances. Economic indicators look positive in present situation. Discount rate of central bank has been improved to 1.5 percentage points. This will help in dealing with high inflation rate in Pakistan.
Pakistan economic review projects that government encourages foreign investments in various fields of real estate, telecommunications, software, energy, fertilizer, aerospace, textiles, steel, ship building, arms manufacturing, cement and automotives.
Reduction of poverty from Pakistan is a major issue for economic department of government. In present analysis, plans have been made to develop roads, dams and power generating plants to generate more job openings and increase development. According to new plan, 541 billion rupees will be used for economic development of country.
Export of goods is a major concern for Pakistan economy. From 1999, exports of Pakistan have increased from $7.5 billion to $18 billion in financial year 2007-2008. Major items for exports include cotton fiber, vegetables, rice, electrical appliances, furniture, cement, tiles, marble, textiles, clothing, sports goods, powdered milk, livestock meat, software, seafood, leather goods, surgical instruments, carpets, rugs, ice cream, chicken, wheat, processed food items, Pakistani assembled Suzuki cars, salt, defense equipment, onyx, marble and engineering goods to mention a few.
Some important import items of Pakistan are petroleum and petroleum products, automobiles, medicines, industrial machinery, construction machinery, trucks, electronics, civilian aircraft, computers, pharmaceutical products, computer parts, food items, toys, defense equipment, iron and steel.
