@ Ultimate...
Scope of M.J is not bright in pakistan. As in the world most of the newspapers and magazines are shifting to web only like Newsweek so it would be hard for the magazines in Pakistan to bear their expenditures through publishing.
A recent study shows that till 2017 all the american newspapers and magazines will ceased their printing and only publish on web and similarly all the newspapers in the world will come to web around 2040.
As for as Pakistan is concerned, Magazine journalism is not as popular as other types of press in Pakistan. there are many reasons of it like

lack of reading habit in society
lack of buying power....people dont even buy newspaper
lack of quality content
lack of skilled professionals
high cost of publishing
poor lay-out
illiteracy
poor quality of printing
easy access to foreign magazines
electronic media like TV(talk shows) have a negative effect on newspapers and magazines. people get information only through TV
Social media have also negative effect
same writers write in the magazines and newspapers so people read them in newspapers.
if we see the types of magazines...
English, Urdu and other local languages.
English political magazines like Herald, TFT(The Friday Times), and other life style magazines are effecting by the foreign magazines
Urdu political magazines like Hum Shehri and Nida-e-Millat are facing same problems.
professional magazines like health, sports, showbiz are doing good business but at small scale.
militant magazines are also very popular in our villages.
Readers of literary magazines are also decreasing.....
now u can make a good answer