Political Economy of Pakistan

Political economy of Pakistan
Political economy being derived from Greek language means ‘’one who
manages a household or a state’’. One can define political economy as the study
of how a state or a country is governed, while keeping both political and
economic factors in mind.
Economic growth and development of the economy are some of the very
important aspect of a state. Having a population estimated around 200 million
Pakistan is a federal country having four independent provinces: the Punjab, the
Khyber Pakhtunkhwa, the Sindh and the Baluchistan. Apart from these four
provinces Pakistan has a capital territory named as Islamabad and the Federally
Administered Tribal Areas (FATA). Apart from these the divisions of Pakistan
mainly depends on the population as well as geography. Population vise if the
data is gathered it has been found that Punjab constitutes of 58% of the total
population whereas Baluchistan having a territory of 45% of which only 5% is
populated. Political economy of Pakistan has been through many ups and downs
but it has been in a running pace with some complex politics going on side by
side.
The economy of Pakistan has been through a developmental phase since
1947. At a times it has played a very major role like manufacturing of weapons,
whereas at other times it has been not able to manufacture a small crankshaft.
From many findings it has been found that Pakistan being a federal state has a
single steel plant which is in working condition, that was also established with
the help of 1970’s Soviet Union. Being a developing country Pakistan still has
to work hard in order to develop like its neighboring countries and establish
some better chemical, automobiles and electronic industries. According to the
many researches and the data gathered it has been concluded that the economy
has been able to grow 6% rate since 1950. Striving hard to survive economically
yet estimated more than 40% of the population of Pakistan lives in the poverty.
One cannot blame just an employ for the disorientation of an organization
but several factors can be blamed. In the same way several factors contribute to
the disturbed economy of a state. Some of the factors included may be like
giving the economy in the hands of wrong people which are not competent
enough to handle it, apart from this not giving enough attention to the domestic
debt, prevalent corruption and having an extraordinary expenditure on the
defense. As a developing country it is very important to discuss the political
economy of Pakistan in such a manner that it will bring forward some important
issues that interfere in the political and economic matter as well as a threat to
the social development. Some of the policies introduced one is fiscal policy.
Fiscal policy involves the use of taxes by the government. It may disturb the
political economy in such a way that sometimes the interests of dominant and
powerful group may be reflected upon ignoring the rights of the minorities, thus
leading towards a disproportionality.
Economic issues prevailed in a country where the state was governed by
neglectful democratic parties having contrasting preferences as well as having
preferences and interests uncommon. If the findings have been read thoroughly
it has been found that Pakistan being a democratic country may suffer much
more economically than being autocratic. As they would be going to spend a lot
of amount on the public sector.
What is to be done?
The political system must be strengthened as well as injustice and corruption

should be removed in order to have a healthy political economic environment. Out
of the box solutions must be thought of in order to resolve the political issues.
Conclusion.
A state doesn’t work on a one-man army policy but it should be organized by the
political parties working together. It must be kept in mind that economic and
political stability are two interconnected terms and no matter how much a poorly
oriented government is assisted it will never result in economic growth. It will only
contribute to a debt full economy.

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Political economy of Pakistan

The political system must be strengthened as well as injustice and corruption

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