Pakistan’s economy has shown steady growth in the last few years. Currently, Pakistan has a mixed economy with state-owned enterprises contributing the most to the GDP. Over the decades, Pakistan’s economy have gone through trial and error to develop a successful economic model. It went from being an Islamic friendly economy, banning interest on loans, to a privatized economy. It’s GDP was heavily dependent on Agriculture as new independent nation until opening other sectors such as trading.
Although Pakistan’s economy is growing, it’s growing at a rate of 2% per capita annually. A few factors that play into it’s slow progress is the high population growth versus the output per capita. More than 50% of Pakistan’s population lives below poverty line countering it’s economic growth. Despite this factor, there’s an annual increase in growth which demonstrates Pakistan’s potential to thrive.
