ISLAMABAD: Despite fragile law & order situation, Pakistan’s economy is rising and will surpass $2 trillion by 2050.
United International Group Chairman Mian Shahid, quoting a study released by an independent institution, said that the country’s economy grew at an average of 5.25pc during 1951 to 1980 during which GDP was increased 11 times, which per capita income saw gains.
Heavy investment in infrastructure during 1960s and 1970s made Pakistan a development model but the situation took a turn in 1990s and country was pushed to default in 2013 which was taken as a challenge by PML-N, he said, adding that the IMF and other institutions say that now there is no chance of a default and that economic indicators are improving.
Mian Shahid said that the country’s stock exchange has been performing well while it is counted among ten best stock exchanges across the globe, he added. He said that incumbent government took charge at a time when country was at the brink of default but now it is a success story.
