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Economic mismanagement in general, and fiscally imprudent economic policies in particular, caused a large increase in the country's public debt and led to slower growth in the 1970s. Two wars with India - the Second Kashmir War in 1965 and the separation of Bangladesh from Pakistan also adversely affected economic growth. [35]
Karachi the economic capital of Pakistan. Following the international credit crisis and spikes in crude oil prices, Pakistan's economy could not withstand the pressure, and on 11 October 2008, the State Bank of Pakistan reported that the country's foreign exchange reserves had gone down by $571.9 million to $7,749.7 million. [64]
The rural SEC grid, which uses education and type of house (pucca, semi-pucca, and kaccha) as measures of socio-economic class, and segments rural India into 4 groups (R1, R2, R3, R4) This is based on the assumption that higher education leads to higher income thus higher consuming potential.
An 1880 painting by Jean-Eugène Buland showing a stark contrast in socioeconomic status. Socioeconomic status (SES) is an economic and sociological combined total measure of a person's work experience and of an individual's or family's access to economic resources and social position in relation to others.
It is one of the Next Eleven, a group of eleven countries that, along with the BRICs, have a high potential to become the world's largest economies in the 21st century.Although Pakistan is facing a severe economic crisis since 2022 which has further detoriated its economic situation,Geographically Pakistan is also an important country and a ...
After the 1965 Indo-Pakistani War over Kashmir, the level of foreign assistance declined and economic constraints were imposed on Pakistan. The third five-year plan was designed along the lines of its immediate predecessor, produced only modest growth. [13]
The History of Pakistan prior to its independence in 1947 spans several millennia and covers a vast geographical area known as the Greater Indus region. [1] Anatomically modern humans arrived in what is now Pakistan between 73,000 and 55,000 years ago. [ 2 ]
Pakistan and its two largest city economies. Source: [1] As of 2019, Lahore had an estimated GDP of $84 billion. [2] [3] As of 2008, the city's gross domestic product (GDP) by purchasing power parity (PPP) was estimated at $40 billion (projected to be $102 billion by the year 2025, with a slightly higher growth rate of 5.6% per annum, as compared to Karachi's 5.5%).