Economic Growth in Pakistan

Economic Growth and Infrastructure Development

• Pakistan's economy experienced growth in the mid-1970s due to the expansion of steel mills, ports, and heavy mechanical complexes.
• The economy saw a decline in the late 20th century, but growth was revived in the early 2000s with improved management policies.
• In January 2017, the Economist projected Pakistan's GDP growth at 5.3%, placing it among the fastest-growing economies globally, particularly within the Muslim world.

Infrastructure Development

• Infrastructure plays a crucial role in a country's functioning, encompassing elements such as electricity, transportation (roads and seaports), and sanitation.
• Infrastructure development is essential for economic growth.
• Following independence in 1947, Pakistan witnessed significant infrastructure development, accompanied by investments in national institutions and industries.
• This development resulted in improved living standards across the country.

Road Development

• Pakistan's road network has expanded significantly since 1947, reaching over 270,000 kilometers.
• This makes it one of the world’s largest road networks.
• In 1947, the road network was significantly smaller at 22,238 kilometers.

Railway Network

• Pakistan's railway network, exceeding 8,800 kilometers, plays a vital role in the country's transportation system.
• The network connects different parts of Pakistan and contributes significantly to its economic function.

Sea Ports and Airports

• Pakistan operates three major ports (Karachi, Bin Qasim, and Gwadar) and over 60 airports.
• These facilities handle import/export activities and facilitate domestic travel.

Mobile Phones

• Pakistan has witnessed substantial growth in the mobile phone sector over the last 15 years.
• The number of subscribers has increased drastically from 5 million in 2004 to over 164 million in 2020.
• This signifies a notable development in the telecommunications industry.