THE ECONOMICS OF PAKISTAN

AN OUTWRD & OVERWHELMING STRIVING OF GREAT LEADERS IN THE MAKING OF

PAKISTAN

What is Economics? A

Definition of Economics

The branch of knowledge concerned with the production, consumption, and transfer of

wealth.. A study of economics can describe all aspects of a

country’s economy, such as how a country uses its resources, how much time laborers devote to

work and leisure, the outcome of investing in industries or financial products, the effect of taxes on a population, and why businesses succeed or

fail.

THE COLOR OF ECONOMICS IN PAKISTAN DEMOCRACY:

The economy of Pakistan is the 25th largest in the world in terms of purchasing power parity

(PPP), and 38th largest in terms of nominal gross domestic product. Pakistan has a population of

over 190 million (the world's 6th-largest), giving it a nominal GDP per capita of $1,550, which ranks

132nd in the world.

CURRENT ECONOMICAL SCALE OFPAKISTAN 2016.

CHARACTERISTICS OF THE ECONOMY OF PAKISTAN

. Burden of International Debt

Most of the developing countries are depending on foreign economic

assistance to meet the short fall in domestic savings and for quickening

the pace of economic development. As the year pass, the amount of

foreign loans is increasing.

 Low per Capital Income

Majority of the people living in developing countries are poverty ridden.

Poverty is reflected in low per capital income. People live in unsanitary

conditions. Service like health, education expand very slowly.

Agriculture, the Main Occupation

In developing countries two third or even more of the people live in

rural areas. Their main occupation is agriculture which is in a backward

stage. The average land holding and the yield per acre is low.

Under-Utilization of Natural Resources

An important characteristics of the developing countries is that their natural resources

either remain un-utilized or under-utilized or mis-utilized. Most of the countries are rich

in resources but they remain un-utilized or under-utilized due to lack of capital,

primitive techniques of production, limited size of the market and sluggish nature of

the people.

Low Level of Productivity

In developing countries people are economically backward. The main causes of

backwardness are low labour efficiency, immobility of labour due to joint family

system, cultural and pshychological factors leading to low level of productivity.

 Deficiency of Capital

Deficiency of capital is another common sign in all the developing countries of the

word. The capital deficiency is mainly due to

(1) low per capital income

(2) low rate of saving

(3) low rate of investment

(4) Inequalities of wealth

(5) adoption of consumption pattern of advanced countries

(6) Higher level expenditure on consumption etc.

PROBLEMS OF THE ECONOMY OF PAKISTAN

Increase in Per Capita Income

Per capita income is the annual average income of the individuals of a nation. We

derive it by dividing national income on total population. Agricultural sector

provides more jobs to unemployed people. It increases the individuals as well as

national income. Agricultural sector is essential to increase the PCI, which is $

1254 at present.

Major Source of Employment

Agriculture sector provides employment to major portion of our labour force.

More than 45.0% of our labour force is directly involved in agriculture sector,

while 66.7% of our rural population is dependent on agriculture. This is the major

sector, which provides employment to a large portion of our population.

Agriculture sector is helpful to reduce the unemployment and disguised

unemployment. Reduction in Poverty

Agriculture development has significant impact on rural development. If

productivity increases in agriculture it reduces poverty and stimulates non-farm

employment, too. They are able to get basic services of life such as water supply,

sanitation, provision of health and educational facilitates. About 21.0% population

of Pakistan is much poor.

Supply of Food

Food is the first in basic necessities of the life. The agriculture sector

is the sole provider of all type of food like wheat, rice, corn,

sugarcane vegetables and fruits etc., to the population engaged in

various sectors of the economy. Agricultural sector also provides food

to those animals that provide milk, cheese, butter and meat to

population to maintain the efficiency. According to economic survey

of Pakistan, exports of food group are $ 2007.3 million.

Source of Forex Earning

Agriculture sector is the main source of foreign exchange (forex)

earning which is used to import capital goods. Total forex

resources of Pakistan is $ 17.1 billion out of which share of

agriculture is $2007.3million. Major cash crops of Pakistan are

cotton, rice, tobacco etc. that is helpful to correct the balance of

payment.

UPCOMING CHALLENGES FOR THE PAKISTAN ECONOMY:

CONCLUSIONWe are full of patriotic feelings and our future is

very bright. We could save and change the destiny of our country. For us policy consultative dialogues should be held in order to know their problems.

That it was the need of the hour that patriotism should be promoted as well as negative approaches must be discouraged. Because there are many example of people who have elevated themselves and been very affluent in terms of class due to their hard work and skills. People like Dr.Atta-ur-Rahman, Dr. Umar saif, Arfa Karim youngest Microsoft Certified student in the world, as well as, from Swat valley Malala Yousafzai, were not born in big political or elite families but their work is marvelous. Especially in the case of Dr.Atta-ur-Rahman, who changed the higher education landscape of country.

FASCILITATOR:MISS ANUM…

PRESENTED BY:

MUHAMMAD ADIL NOORANI