PAKISTAN -IN EYE OF WORLD
POPULATION WORLD 6TH MOST POPULOUS(180 MILLION)
AREA WISE 36TH LARGEST
ECONOMY ;
Pakistan is a rapidly developing countrY and is one of the Next Eleven, the eleven countries that, along with the BRICs, have a high potential to become the world's largest economies in the 21st century.Pakistan's estimated nominal GDP as of 2011 is US$202 billion. The GDP by PPP is US$488.6 billion. The estimated nominal per capita GDP is US$1,197, GDP (PPP) per capita is US$2,851 (international dollars), and debt-to-GDP ratio is 55.5%. A 2010 report by RAD-AID positioned Pakistan's economy at 27th largest in the world by purchasing power and 45th largest in absolute dollars.[174] It is South Asia's second largest economy, representing about 15 percent of regional GDP.
Goldman Sachs economist expects that by 2050, Pakistan would become the 18th largest economy in the world with a GDP of US$ 3.33 trillion.[180] Pakistan's economic growth since its inception has been varied. It has been slow during periods of civilian rule, but excellent during the three periods of military rule, although the foundation for sustainable and equitable growth was not formed.[49] The early to middle 2000s was a period of rapid reform; the government raised development spending, which reduced poverty levels by 10% and increased GDP by 3%.[78][181] The economy cooled again from 2007.[78] Inflation reached 25% in 2008[182] and Pakistan had to depend on an aggressive fiscal policy backed by the International Monetary Fund to avoid possible bankruptcy.[183][184] A year later, theAsian Development Bank reported that Pakistan's economic crisis was easing.[185] The inflation rate for the fiscal year 2010–11 was 14.1%.[186]
Khewra Salt Mine is the world's second largest salt mine with reserves of over 600 million tons.
Pakistan is one of the largest producers of natural commodities, and
its labour market is the 10th largest in the world. The 7 million strong
Pakistani diaspora, contributed US$11.2 billion to the economy in FY2011.
[187] The major source countries of remittances to Pakistan include UAE, USA, Saudi Arabia, GCC countries (including Bahrain, Kuwait, Qatar and Oman), Australia, Canada, Japan, UK and EU countries like Norway, Switzerland, etc. .
[188][189] According to the
World Trade Organization Pakistan's share of overall world exports is declining; it contributed only 0.128% in 2007.
[190] The trade deficit in the fiscal year 2010–11 was US$11.217 billion.
[191]
The structure of the Pakistani economy has changed from
a mainly agricultural to a strong service base. Agriculture now accounts for only 21.2% of the GDP. Even so, according to the United Nations
Food and Agriculture Organization, Pakistan produced 21,591,400 metric tons of wheat in 2005, more than all of Africa (20,304,585 metric tons) and nearly as much as all of South America (24,557,784 metric tons). Between 2002 and 2007 there was substantial foreign investment in Pakistan's banking and energy sectors.
[193] Other important industries include clothing and textiles (accounting for nearly 60% of exports), food processing, chemicals manufacture, iron and steel. There is great potential for
tourism in Pakistan, but it is severely affected by the country's instability. Pakistan's
cement is also fast growing mainly because of demand from
Afghanistan and countries boosting real estate sector, In 2013 Pakistan exported 7,708,557
metric tons of cement. Pakistan has installed capitcty of 44,768,250 metric tons of cement and 42,636,428 metric tons of clinker. In the 2012–2013 cement industry in Pakistan became the most profitable sector of econoMY
Foreign direct investment (FDI) in Pakistan soared by 180.6 per cent year-on-year to US$2.22 billion and portfolio investment by 276 per cent to $407.4 million during the first nine months of fiscal year 2006, the
State Bank of Pakistan (SBP) reported on April 24. During July–March 2005–06, FDI year-on-year increased to $2.224 billion from only $792.6 million and portfolio investment to $407.4 million, whereas it was $108.1 million in the corresponding period last year, according to the latest statistics released by the State Bank.
[198] Pakistan has achieved FDI of almost $8.4 billion in the financial year 06/07, surpassing the government target of $4 billion.Foreign investment had significantly declined by 2010, dropping by 54.6% due to Pakistan's political instability and weak law and order, according to the Bank of Pakistan.
The textile sector enjoys a pivotal position in the exports of Pakistan. Pakistan is the 8th largest exporter of textile products in Asia. This sector contributes 9.5% to the GDP and provides employment to about 15 million people or roughly 30% of the 49 million workforce of the country. Pakistan is the 4th largest producer of cotton with the third largest spinning capacity in Asia after China and India, and contributes 5% to the global spinning capacity. China is the second largest buyer of Pakistani textiles, importing $1.527 billion of textiles last fiscal. Unlike US where mostly value added textiles are imported, China buys only cotton yarn and cotton fabric from Pakistan. In 2012, Pakistani textile products accounted for 3.3% or $1.07b of total UK’s textile imports, 12.4% or $4.61b of total Chinese textile imports, 2.98% or $2.98b of total US’s textile imports, 1.6% or $0.88b of total German textile imports and 0.7% or $0.888b of total Indian textile imports.
SCIENCE ACHIVEMENTS
In medicine,
Salimuzzaman Siddiqui was the first Pakistani scientist to bring the therapeutic constituents of the
Neem tree to the attention of natural products chemists.
]Pakistani neurosurgeon
Ayub Ommaya invented the
Ommaya reservoir, a system for treatment of brain tumours and other brain conditions.
[236]
Pakistan has an active space program led by its space research agency,
SUPARCO. Polish-Pakistani aerospace engineer
W. J. M. Turowicz developed and supervised the launch of the
Rehbar-I rocket from Pakistani soil, making Pakistan the first South Asian country to launch a rocket into space. Pakistan launched its first satellite,
Badr-I, from China in 1990, becoming the first Muslim country and second South Asian country to put a satellite into space. In 1998, Pakistan became the seventh country in the world to successfully develop
its own nuclear weapons.
Pakistan is one of a small number of countries that have an active research presence in Antarctica. The
Pakistan Antarctic Programme was established in 1991. Pakistan has two summer research stations on the continent and plans to open another base, which will operate all year round.
Electricity in Pakistan is generated and distributed by two vertically integrated public sector utilities: the Karachi Electric Supply Corporation (KESC) for Karachi and the Water and Power Development Authority (WAPDA) for the rest of Pakistan.
Nuclear power in Pakistan is provided by three licensed commercial nuclear power plants under Pakistan Atomic Energy Commission (PAEC).
Pakistan is the first Muslim country in the world to embark on a nuclear power program. Commercial nuclear power plants generate roughly 3% of Pakistan's electricity, compared with about 64% from thermal and 33% from hydroelectric( power.http://en.wikipedia.org/wiki/File:Standard_Model_of_Elementary_Particles.svg)
EDUCATION
The constitution of Pakistan requires the state to provide free primary and secondary education.
[244] At the time of independence Pakistan had only one university, the
University of the Punjab.
[245] As of September 2011 it has 136 universities, of which 74 are public universities and 62 are private universities.
[246] It is estimated that there are 3193
technical and vocational institutions in Pakistan,
[247] and there are also
madrassahs that provide free Islamic education and offer free board and lodging to students, who come mainly from the poorer strata of society.
[248] After criticism over terrorists' use of madrassahs for recruitment, efforts have been made to regulate them.
[249]
The government is in a development stage in which it is extending
English medium education to all schools across the country. Meanwhile, by 2013 all educational institutions in
Sindh will have to provide Chinese language courses, reflecting China's growing role as a superpower and Pakistan's close
ties with China. The literacy rate of the population above ten years of age in the country is 58.5%. Male literacy is 70.2% while female literacy rate is 46.3%. Literacy rates vary by region and particularly by sex; for instance, female literacy in tribal areas is 3%. The government launched a nationwide initiative in 1998 with the aim of eradicating illiteracy and providing a basic education to all children. Through various educational reforms, by 2015 the ministry of education expects to attain 100% enrolment levels among children of primary school age and a literacy rate of 86% among people aged over 10.