In 2008 Pakistan began a new journey. Democracy made a comeback. The people elected a parliament and the rule of law was established.
Over the last five years Pakistan has faced volatility in international prices, the great floods of 2010, devastating rain in Sindh and part of Balochistan and an adverse security situation and the world economic outlook remained weak particularly in the Eurozone where a considerable amount of the Pakistan’s trade and investment is focused. These factors have caused a slow-down in foreign investment. It is remarkable that domestic businesses have continued to perform and also success in holding on to their foreign buyers under these circumstances.
Despite such daunting challenges, it is the resilience of the Pakistan economy and the strength of its people that Pakistan has maintained growth in the economy. The growth rate in the last 2 years has averaged around 3.4% with projections for 3.7% growth in the current year.
The government has succeeded in achieving economic growth through adequate reserves, the countries exchange rate is relatively stable, exports have again performed remarkably well and remittances are increasing.
There is no limit to the economic potential of Pakistan particularly now when democratic forces are creating a investor friendly environment.