Assalam o Alaiqum!
Seniors kindly evaluate my outline. Jazak Allah.
1. Introduction
2. Economic history of Pakistan
A. Era of experimentation (1947-1979)
a. No proper economic model due to weak economic system
b. Ayub Khan's Harvard trickle down model
c. Zulfiqar Ali Bhutto's model of nationalisation
B. Era of twisted economy (1979-1998)
a. Aid based economic model of Zia Ul Haq
b. Debt based model of Benazir Bhutto
c. Nawaz Sharif devices his own economic policies with the aid of foreign
short term loans
C. Era of problematic economy (1998-2021)
a. Consumer Credit model or Subsidized Credit scheme of General
Musharraf
b. PPP's era of darkness
Industrial collapse was seen
low GDP
low foreign reserves
c. PML-N era of Chronic Capitalism
D. Current Scenario
a. New model of Riyasat e Madina
b. Crackdown of capitalism
c. Efforts are being made to uplift the lower middle class of the state
through
Ehsas program
e-rozgar schemes
Insaf Sehat Card program
3. Issues in Pakistan's economy
A. Problems of policy implementation
a. No consistency in policy implementation
b. Every government owned its different model
B. Political instability in Pakistan
a. Marshal Laws overwhelmed the history of Pakistan
b. Institutional imbalance
c. Polarized politics
d. Unstable Political System
C. Weak policy framework
a. Flawed policies results in weak economy
45% population is giving its input in agriculture sector but the output
is only 19%
D. Fiscal Federalism results in unsustainable economy
a. Federal government never devolve its fiscal powers to tehsil level
No strong local government system
No sufficient tax collection at trickle down level
E. Fiscal Policy Problems
a. Fiscal deficit leads to ceased economic growth
b. Not enough earning from sources of revenue
No sufficient income from state owned enterprises
PIA faces loss of almost 100 billions yearly
WAPDA bears loss of almost 80-90 billions every year
Railway suffers loss of 40 billions
Steel mills faces loss of 500 billions yearly
F. Problems in monetary policies
a. Flaws in banking systems
Heavy loans are given to upper class
no opportunities for lower middle class
G. Financial problems with the Washington Concensus
a. Loans from IMF and World Bank
Conditioned based loans ensured that the economy of the state
could never flourish
Debt trap
H. Pakistan's Development paradox
a. Developments in only limited sectors
Only a few housing schemes flourished
What about the other stakeholders
I. Inequalities in class politics
a. Feudal structure of the state
never made such policies that could benefit lay man
4. Suggestions to combat economic woes of Pakistan
A. Pakistan needs to ensure an investment friendly environment
a. It will attract more Foreign Direct Investment (FDI)
b. Minimum rely on foreign aid
c. Ease custom laws and regulations
d. improvement in the security system of the country
B. Pakistan should focus on building on domestic industry
a. expands its export portfolio
b. enhance its competitiveness in the International markets
c. Pakistan needs to modernize its industrial sector
by establishing new plants and equipment
by investing in research and development (R&D)
C. Pakistan should work on revival of agriculture sector
a. Interest free credit should be given to farmers
b. subsidy to small farmers
D. Improvements in tax collection policies
a. local government bodies is the only way to collect taxes at trickle
down level
E. Opportunities should be given to other stakeholders instead of few
F. Strategy of Pakistan should change from geo-strategic to geo-economics
a. New projects like CPEC must be joined in order to prosper Pakistan's
economy
CONCLUSION