Paki score card

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1. Pak Economy in 1999 was: $ 75 billion
2. Pak Economy in 2007 is: $ 160 billion
3. GDP Purchasing Power Parity (PPP) in 1999: $ 270 billion
4. GDP Purchasing Power Parity (PPP) in 2007: $ 475.5 billion
5. Pak revenue collection 1999: Rs. 305 billion
6. Pak revenue collection 2007: Rs. 708 billion
7. Pak Foreign reserves in 1999: $ 700 million
8. Pak Foreign reserves in 2007: $ 17 billion
9. Pak Exports in 1999: $ 7.5 billion
10. Pak Exports in 2007: $ 18.5 billion
11. Textile Exports in 1999: $ 5.5 billion
12. Textile Exports in 2007: $ 11.2 billion
13. KHI stock exchange 1999: $ 5 billion at 700 points
14. KHI stock exchange 2007: $ 70 billion at 14,000 points
15. Foreign Direct Investment in 1999: $ 1 billion
16. Foreign Direct Investment in 2007: $ 8 billion
17. Debt servicing 1999: 65% of GDP
18. Debt servicing 2007: 26% of GDP
19. Poverty level in 1999: 34%
20. Poverty level in 2007: 24%
21. Literacy rate in 1999: 45%
22. Literacy rate in 2007: 53%
23. Pak Development programs 1999: Rs. 80 billion
24. Pak Development programs 2007: Rs. 520 billion

A fair assessment will show that Mr. Musharraf achieved an unexpected economic turnaround for Pakistan’s economy and proved wrong all skeptics who accused Pakistan of being a ‘national security state’ incapable of showing economic potential.

The events of 2007 and early 2008 have given a blow to Pakistan’s economic growth but nothing earth shattering. The fear is that the disruptive politics of the charge-sheeted PCO Judge Iftikhar Chaudhry, his chief backer Mr. Nawaz Sharif and other failed politicians might result in a fatal blow to Pakistan’s economic rise, which may take years to recover.

By AHMEDQURAISHI.COM

Friday, 13 June 2008.

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