Many of us search in Google about the Pakistan Economy Latest News Analysis. The topic attracts almost everyone of us due to the attachment of all of us with the economy of Pakistan. Every one of us is directly or indirectly has some kind of link to the various kinds of economic activities.
What is Pakistan’s current economic situation?
The current economic situation of Pakistan is at a doldrums. Industry, which has central importance in the economic power of a state, is deteriorating in the state of Pakistan.
Currently, according to many of the global economic institutes, Pakistan’s economy is not growing as it should be in the current economic scenario of the world.
First of all, if we talk abouit the various industrial growth and pattern. One can see that every industry owner is worry about the expensive units of production, such as electricity and raw material. Power is the basic element for the industriualist to produce the goods at comparative rate. Because modern age is the age of competitiveness. You have to produce cheaper products as compared to the other states in the world. In this way, you can offer the low price products to other states in the world as compared to the other countries.
So, in this scenario, the economic situation in Pakistan is not good for the industrialists and businessmen. They are moving their businesses to outside of Pakistan. The reason behind is to expensive raw material as well as power resources. Moreover, the law and order situation in Pakistan is peaceful as compared to the last decade.
What is the future of Pakistan’s economy in 2025?
There are wide range of progress and development of economy of Pakistan in 2025. The economy of Pakistan is agro based, industry based and service based economy. It is not the middle eastern and Saudi type of economy which are totally dependent on oil and gas and other power resources.
In this way, the Pakistani economy in the year 2025 has lots of opportunities to grow and to achieve new milestones. Especially, the cotton, sugar, rice, garments, and steel industries have lots of chances to grow and sell their products locally as well as internationally.
How can Pakistan’s economy be improved?
There is a need of the hour to improve the economy of Pakistan. For this, there is a need to take various steps to boost the economic growth of the country. The Following steps are very important to improve the economy of Pakistan.
- First of all the most important step is the easy ways to establish businesses and industries.
- Secondly, there must be all time and cheap availabiity of energy resources.
- Thirdly, there should be access to the local and international markets.
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Major Industries in Pakistan
There are many industrial units in Pakistan that are working in their own fields. These industrial units are providing employment to millions of individuals as well as contributing to the GDP of Pakistan.
Textile Industry:
The textile Industry is one of the largest industries of Pakistan. It is manufacturing cloth not only for Pakistan for also for export purposes. In this way, the textile industry of Pakistan is providing employment opportunities to Pakistanis, contributing to the national income. Moreover, the Textile industry is also bringing foreign reserves for Pakistan.
Sugar Industry of Pakistan
The Sugar industry of Pakistan is also a huge industry of Pakistan. Pakistan is self-sufficient in the production of sugar. Moreover, Pakistan is also a big exporter and producer of sugar all over the world.
Steel and Iron Industry
The steel and Iron Industry of Pakistan is also a big industry. This is among the old industrial units of Pakistan. Further, the Steel and Iron Industry of Pakistan is the backbone of Pakistan’s economy.
Sports Industry of Pakistan
Sports is also a major industry of Pakistan. It is generating millions of foreign reserves for the economy of Pakistan. In this regard, there are various sub industrial units that are producing sport items for local consumers as well as for the international vendors.
Moreover, in this regard, Sialkot is the top preference for the vendors and sports lovers to buy sports goods. There are lots of sports industries in Sialkot and Narowal, which are promoting the sports industry. But due to the lack of modern technology and expensive factors of production, the industry is currently not running at an optimum level.
