Pakistan’s economic struggle in last 75 Years

Its been 75 years since the birth of Pakistan. When the country gained independence in 1947, the patriots claimed that the country have gained more land as compared to France and more population than Germany. In its initial days, sustaining the economy was a daunting task. Being an agrarian society still, the country had to face financial failures owing to political, industrial, and trade weaknesses.

In context to the economy, the country was not in a position to feed the population of 30 million. For meeting the needs of the population, it had to import all the necessary food items. With the passage of time, Pakistan untapped its agricultural potential, and later on it not only became capable of meeting its domestic needs but also became 3rd largest rice exporter country in the world. Currently, the country has made progress not only in the agricultural field but also has become one of the leading exporters of textiles. From exporting 1 million bales of cotton in 1947 to currently exporting more than 14 million bales of cotton, Pakistan has made significant progress.

Moreover, in the initial days the country was not in a position to produce the products including cement, steel, sugar, etc but now has made a progress in terms of manufacturing its own valuable products. Pakistan according to FY 2020-2021 has observed an increase in its textile industries and has earned more than 15 billion through promotion and increase in textile-related activities. CPEC which is a giant economic project has brought a significant increase in agricultural production in Pakistan.

It would be pertinent to say that despite the challenges related to the dwindled economy of Pakistan, the country has made progress by leaps and bounds. Although, the lack of structural changes in the economy and political concerns have hampered the economic growth of the country. In a nutshell, it would be not wrong to praise the economic progress that the country has made so far on the account of 75 years of its independence.