Mina Observatory - Editorial Board
The Pakistani economy is considered one of the largest economies of the world, as its economy ranks in the twenty -fourth place among the largest economies of the world, and the economy is semi -industrial that has growth centers along the endos and includes the basic raw materials that are exported by both textiles, skin, sports goods, chemicals, carpets and carpetsAnd medical tools.
According to a study issued by the World Bank, the growth poles of the Pakistani economy are concentrated along the Andousa River, the various economies in Kratchi, and the basic civil centers in Bonjab that coexist with the less developed areas in the country.
In the same context, the Hergig Foundation for Economic Studies is classified as the economy of Pakistan within the category "often free".The federal budget shows that Pakistan has increased fees for imports suffering from high taxes, which increases the difficulties facing Pakistan in its attempts to integrate with other countries in the region;As attracting foreign investment and providing the appropriate conditions for converting savings into high rates, it requires improving the system of government according to the aforementioned institution, such as: canceling privileges, improving tax commitment, fighting corruption, in addition to ensuring that the approved policies are not fluctuated.
A look at economic history
Soon after Pakistan's separation from India, Pakistan began to establish its foundations.Meanwhile, the country did not obtain the correct allocation of resources, the assets were divided into a share of 17 for India and 5 for Pakistan, and most of the irrigated lands in Pakistan and the main channel system were, and the military division was 65 to 35 percent in favor of India.at the same time.
Pakistan was the mostly agricultural country and the middle class when it got its independence in 1947, where the average economic growth rate of Pakistan in the first five decades (1947-1997) was higher than the global economy growth rate during the same period..The average annual GDP growth rates were 6.8% in the sixties, and 4.8% in the seventies and 6.X% in the 1980s, while the average annual growth rate decreased to 4.6% in the 1990s with a clear growth in the second half of that contract.
The researcher, Fahima Fajr, says: “In the 1970s, Zulfiqar Ali Bhutto arrived in power and this contract is often described as luck, which is mainly supported by the stagnation of global exports, the division of eastern Pakistan, the floods of 1974 and locust attacks..Moreover, Bhutto's policy was mainly dedicated to the socialist economy, and for this reason exactly, this period was criticized for its failure..
And "Fajr" in its study on the Pakistani economy, that its nationalization policies have become the main cause of the loss of industrial units and the confidence of investors to invest in Pakistan, adding: "At the same time, its policies led to poor resource allocation and the total growth decreased from 6.8 % annually in the 1960s to 4.8 % annually in the 1970s.He introduced lands reforms, and some criticized that their nationalization policies were led by the feudalists, who were presented to cut the industrial layer wings that have developed greatly in the 1960s..
According to several sources, the Pakistani government has made important economic reforms since 2000, and the horizons were medium -range to create work and reduce poverty are the best in approximately one decade, while the World Bank reported in 2005 that “Pakistan was the best reformer in the region and the tenth reformer in the world, which made it easier for launchingAt work and reduce the cost of registration of the king and increased the penalties related to violating the rules of corporate management, and replaced the requirements for licensing each shipment with a two -year dealer for merchants »
A major report issued by the World Bank and the International Finance Corporation entitled "The Ease of Work Index" in 2009 shows that Pakistan ranked 136 out of 190 countries of the world, which indicates, according to economic researchers, to the continuous improvement and a jumping of 147th inlast year.The five best countries were New Zealand, Singapore, Denmark, Hong Kong and Korea, and with the improvement of the ranking in the ease of carrying out work and providing an appropriate map for investment by the government.
Besides, the same report shows that many giant companies in the automotive sector, such as the French Renult, Kia, Hyundai from South Korea, and JiW Forland, China, and the German Giant Volkswagen auto company, entered the Pakistani car market through joint projects with local manufacturersLike Diwan Farok Motors, Khaled Mushtaq Motors, United Motors.
Islamic economy
Pakistan is considered one of the few countries that apply the policy of Islamization of the economy. According to a study of the Islamization of the economy in Pakistan between the years (1977-1988), this policy includes the proposed economic policies under the slogan of “the safety” in Pakistan, executive decrees on zakat (the poor), and the ten (taxTen), and the judicial changes that helped to stop the redistribution of lands to the poor, and perhaps most importantly, eliminating usury (activists define it as benefits imposed on loans and securities).
The aforementioned study also indicates that Major General Mohamed Diaa Al -Haq as the founder of the first to lead the country towards Islamization among the rulers, who continued to rule Pakistan, where he presented a program in 1978 to make Pakistani law be in line with the principles of Islamic Sharia, indicating that the program was designed in late 1977It was implemented during his reign, and this came in response to the escalation of Islamic activity and the problems and disputes related to the policies of the predecessor Diaa, Prime Minister Zulfiqar Ali Bhutto.Diaa's intention was to "eliminate the scourge of interest" on loans and securities, and to create a "reluctant economy from interest".
On January 1, 1980, approximately 7,000 meters were opened without interest in all the sustainable commercial banks, which made Pakistan the first country in the Islamic world with Islamic banking services, and the study indicates that Islamic activists calling for a more comprehensive integrity of that country, wasThey have their role in the Islamization of the economy, specifically to eliminate usury (it benefits the loans).
Besides, a book towards an Islamic banking system issued in the year 2002 shows a decline in the Islamization of the Pakistani economy with the entry of the current millennium, as a result of the efforts of Islamic and secular modernists and generations of Muslim customs, which led to the fading enthusiasm of Islam and diminished throughout the history of Pakistan.
According to Article 28 of the 1956 Pakistan constitution, the Pakistani state is called to eliminate usury “as soon as possible”, as the constitution of 1962 stipulated the principles of politics that states the abolition of “usury”., In addition to finding similar rulings in the 1973 constitution.
In 1969, the consultative body sponsored by the state known as the Islamic Ideology Council (CII) announced that the banking system in Pakistan was "dependent mainly on usury" and called unanimously to eliminate it.
A study entitled “Islamic Banking Services in Pakistan” issued in 2015 show that Ashraf Qureshi and Abu Al -Ala Al -Mawdudi are two pioneers of theorists in Islamic banking, who preached that interest is usury, forbidden to Muslims, and “established the foundations” of Islamic banking and financial servicesCurrent in 1940, they were from South Asia.
Agricultural and industrial economy
The Pakistani economy is an agricultural and industrial economy at the same time, as the percentage of agricultural lands in Pakistan is 26 percent of the total area of the country, as Pakistan is famous for cultivating rice, sesame, cotton and corn, and one of the most important fruits that are cultivated in Pakistan is acid fruits such as orange and lemon.
At the same time, Pakistan is distinguished by various industries, and when talking about Pakistani industries, it is necessary to refer to the city of Sialkot, for obtaining a unique international certificate in the industrial sector, where this city is famous for the leather, clothes, sports, medical, leather and clothing industry, and it manufactures football, swords, daggers and hockey battlefieldsAnd the cake.
يقول الباحث، “علاء سعد” في بحث منشور في موسوعة المرسل عام 2021: “جربت العديد من النماذج الاقتصادية خلال وجودها في البداية، حيث كان الاقتصاد الباكستاني يعتمد إلى حد كبير على المشاريع الخاصة، ولكن تم تأميم قطاعات مهمة منه بداية من أوائل السبعينيات، بما في ذلك الخدمات المالية والتصنيع والنقل، وتم إجراء تغييرات أخرى في 1980 في ظل الحكم العسكري للضياء الحق على وجه التحديد، وتم إدخال Islamic economy، الذي حرم الممارسات المحرمة من قبل الشريعة الإسلامية مثل فرض فائدة على القروض”.
"Saad" shows that the Pakistani state in the nineties is in a total or partial privatization of large sectors of the determinant economy, and the economy that was agricultural in the first place has become very diverse at the time of independence, as agriculture, which is now the largest sector, contributes to about five GDP, while Manufacturing provides about a sixth, and trade and services that are the largest component of the economy have grown significantly in terms of the structure of its economy, adding: “Pakistan is similar to medium -income countries in East and Southeast Asia more than the poorest countries in the Indian subcontinent, and economic performance compares positively with The performance of many other developing countries, as Pakistan has maintained a sustainable and steady annual growth rate since independence..
Saad also explains: “Nearly 5 percent of the country’s area is forests. However, agriculture, forests and fishing still provides job opportunities for the largest percentage of the workforce and a livelihood for a larger segment of the population, as the land reform programs that were implemented in1959, 1972 and 1977 in dealing with widespread land ownership problems that are often absent and excessive retail for small property by introducing maximum and minimum space limits..
Between the nuclear bomb and the Cashmer and Corona crisis..Negative effects struck the economy of Pakistan
During his career, the Pakistani economy was affected by three crises that cast a shadow over it, the most prominent of which was the crisis of the nuclear bomb. After Pakistan announced its joining the nuclear club, Western countries began a tremendous economic and political pressure on it, and Washington imposed economic sanctions on it, and a case was filed on the founder of the Pakistani nuclear program.Khan, ”the beginning of the eighties in the Netherlands, accuses him of stealing secret nuclear documents, which was denied by Khan and the government of Islamabad has repeatedly refused, and the charge was dropped by the Amsterdam Supreme Court after that..
According to the available historical sources, this crisis began to fade with the invasion of the Soviet Union of Afghanistan in 1979, and it was imposed, according to a group of researchers on the United States, an attempt to contain Pakistan to help it in the security effort in the context of its attempt to involve the Soviets and weaken them, which ultimately led to the lifting of sanctionsAmerican and providing economic and military assistance to Pakistan with hundreds of millions of dollars ($ 400 million).
As for the second crisis, it was a long -term conflict with India over the Kashmir region, which in various periods led to heavy negative effects on the Pakistani economy, especially since the two countries were often on the threshold of direct military confrontations, which led to the decline in foreign investments in the countryAs a whole.
The third crisis stems from a global crisis represented by the crisis of the spread of the new Corona epidemic Kofid 19, which led to a decline in the level of economic growth of Pakistan during the year 2019, the escalation of foreign debt and the decline in the industrial sector and exports, along with registration of the rupee of the lowest level for the dollar, which reached during the peak of the crisisTo 167 rupees per dollar, according to Pakistani official data.
For his part, the head of the investigation center at the Aref Habib Financial Foundation, “Sami Allah Tariq”, confirms, in his comment on the effects of the spread of the Corona epidemic on the Pakistani economy, that the first three weeks of the appearance of the epidemic witnessed the withdrawal of foreign investors more than a billion and a half billion dollars from Pakistani banks, and it wasThese funds are dedicated to projects that are being implemented in the short term, which put pressure on the rupee.
Unemployment, poverty and negative expectations
Unemployment is one of the biggest problems facing the Pakistani economy during the last twenty years, according to Pakistani official studies, which show that the number of unemployed work in the country in 2005 reached 3.5 million unemployed, including 234 thousand university graduates.
The same studies also show that despite the efforts made by the Pakistani government to combat unemployment, the Corona epidemic led to a significant exacerbation of unemployment during the year 2020, noting that the crisis may cause an increase in the number of unemployed by a total of 3 million people and the high poverty rate to33.X%.
Official estimates also show the number of poor people by three times, from 20 million to 60 million, according to a new equation for measuring poverty in the country..
The government is estimated that the poverty rate has increased to 29.5 percent during the years 2014-2013 and this percentage was 9.3 percent according to the old equation.
Besides, statistics indicate that a negative growth rate has been recorded by 0.4% in Pakistan during the current fiscal year, and the financial deficit rate will increase from 7.X% إلى 9.X%.
A currency has been going on for thousands of years
Pakistan deals with Al -Ruwaibiya, it is the name of the currency of the currencies of India, Pakistan, Sri Lanka, Nepal, Morishos, Seychelles, Maldives, Indonesia, Burma and Afghanistan, as the name of Roba appeared around the year 900 BC.
The history of the rupees dates back to ancient India that took place between the sixth and eighth century BC.Ancient India was the first to release coins in the world.This is in addition to the Chinese Wine and Statter in the Lydic state.As for the name, it is derived from the word Sanskrit, which means a silver currency.
From the word rūpá, which means a beautiful shape.In the Maldives, the currency unit is known as Rovy Maldivie, and it is a word close to rupees in the Indian language.Both Indian and Pakistani Rurawi are divided into a hundred gaze.As for the Mauritius and Sri Lankan rupees, it is divided into 100 cents.Nepalese rupee is divided into a hundred bizas, four suka, or two pieces.
In Afghanistan, the Afghan rupee was used until 1925, and the rupee was divided into 60 bizas.Before the use of Afghan rupee in 1891, the official currency was Ru ru -Kabouli.In Tibet, the official currency used in Tibet until the mid -twentieth century was the Indian rupee was the official currency of the Emirate of Dubai and Qatar until 1959, when India established a Gulf rupee (also known as an outdoor rupee) to combat gold smuggling.The Gulf rupee was a legal currency until 1966, when India reduced the value of the Indian rupee and established a new Qatari Real to provide economic stability
الوسومالاقتصاد الباكستاني القنبلة النووية الباكستانية باكستان من الداخل كشمير