Pakistan was one of the few developing countries that had achieved an
average growth rate of over 5 percent over a four decade period ending 1988-89.
Consequently, the incidence of poverty had declined from 40 percent to 18
percent by the end of the 1980s. Table I lays down the main economic and
social indicators in 1947 and compare them with 2004. The overall picture that
emerges from a dispassionate examination of these indicators is that of a country
having made significant economic achievements but a disappointing record of
social development. The salient features of Pakistan’s economic history are:
• Pakistan is self sufficient in most food production.
• Per capita incomes have expanded more than six-fold in US Dollar terms.
• Pakistan has emerged as one of the leading and successful producers of
cotton and cotton textiles.
• Pakistan has developed a highly diversified base of manufactured
products for domestic and world markets.
• Physical infrastructure network has expanded with a vast network of gas,
power, roads and highways, ports and telecommunication facilities.
These achievements in income, consumption, agriculture and industrial
production are extremely impressive and have lifted millions of people out of
poverty levels. But these do pale into insignificance when looked against the
missed opportunities. The largest setback to the country has been the neglect of
human development. Had adult literacy rate been close to 100 instead of close
to 50 today, it is my estimate that the per capita income would have reached at
least US$1200 instead of US$640.
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