Pakistan`s Economic Journey, Need for A New Paradigm

Fasihuddin, Fasih Uddin

Economics and peoples’ decisions related to this important sphere of life play a pivotal role in human life. This fact remains true, irrespective of the differences of time, space and the levels of decision making - be it individual, family, national or a scale as large as global. Increasing connectivity, especially in this time of globalization surge, has further reinforced the phenomenon. The economic decisions which are made at any point, directly or indirectly reflect on all other levels as well, in one way or the other. In spite of this significance of human behaviors in routine lives in economy-related matters, it remains to be a fact that a large number of people know very little about the subject’s dynamics. Even many experts who are generally very expressive and analytical over diverse matters, rightfully admit their lack of knowledge about economics. In this backdrop, Pakistan’s Economic Journey – Need For A New Paradigm has been prepared with two objectives in view. First, it should serve as a policy document: suggesting a future strategy for Pakistan after technically reviewing the 70 years economic journey of the country, and second, articulating and presenting all the concerning issues in such a way that they remain easy to comprehend even for the common readers.