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Pakistan has experienced an economic crisis as part of the 2022 political unrest. It has caused severe economic challenges for months due to which food, gas and oil prices have risen. As of 1 January 2025 Pakistan inflation rate was 4.1% lowest in 6.75 years. The Russian invasion of Ukraine has caused fuel prices to rise worldwide. Excessive ...
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]
Constant economic pressure and failure of the planned economy led the dismissal from power of Benazir Bhutto in 1996 when she failed to materialize her and the relatively poor economic growth. By the 1996, the economic GDP growth had reached to 1.70% [13] (lowest growth since 1970) and the rate of inflation had risen to 10.79% (highest since 1991).
The journal is issued quarterly and, with a fair mix of topics, regularly contains original (theoretical and empirical) contributions to Economics, in general, and on Pakistan's socio-economic problems, in particular. Nearly every issue carries contributions by scholars from Pakistan and overseas.
During the 1960s, Pakistan was seen as a model of economic development around the world, and there was much praise for its rapid progress. Many countries sought to emulate Pakistan's economic planning strategy, including South Korea, which replicated the city of Karachi's second "Five-Year Plan."
The liberalisation methods raised country's GDP growth at 9.38% (1964), 8.71% (1980s) and 8.97% (2004–07). After exclusive establishment of Pakistan, the country's economic policy for the rapid growth of the national economy was deeply understood and extensive efforts were carried out by the government of Prime minister Liaquat Ali Khan in 1947. [2]
According to scientific research, climate change played a substantial role in the devastating floods of 2022, which had a direct impact on over 30 million people in Pakistan, resulting in the loss of lives, damage to public infrastructure, and displacement from homes. [19] Climate change poses a significant menace to Pakistan's economy and ...
Pakistan has extensive energy resources, including fairly sizable natural gas reserves, some proven oil reserves, coal (Pakistan has the largest coal reserves in the world [21]), and a large hydropower potential. However, the exploitation of energy resources has been slow due to a shortage of capital and domestic political constraints.