Jan

31

Pakistan's economy is collapsing:

Pakistan is not only wrestling with a problem of law and order, but struggling to get its collapsing economy back on rails.

The country's commercial capital, Karachi, which accounts for nearly 45 percent of Pakistan's Gross Domestic Product (GDP) (180 million dollars per day) and tax related revenue of a billion rupees per day, is facing a host of systemic problems.

Poor financial and economic management has been compounded by flood-related devastation. This has adversely affected the country's agricultural growth, and damaged its infrastructure (which is already groaning under years of mismanagement).

Given this abysmal scenario, it is extremely doubtful that the Pakistan economy will improve on its 2010-11 growth rate of two percent in fiscal
2011-12.

Here is the rest of the article.


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