Article Type

Article

Description

Economic achievements during President Musharraf's regime are often dismissed outright due to abhorrence of military rule, the imposition of emergency in 2007, Pakistan's involvement in the Afghanistan war, open tussle with the judiciary, and the quest to get elected in uniform. This article is an attempt to provide a first-hand, data-driven account of the economic record of the period 2000-2008, covering macroeconomic stabilization through IMF arrangements, debt re-profiling through Paris Club, aggressive privatization yielding $3 billion, financial sector reforms, fiscal consolidation, and trade liberalization that resulted in GDP growth of approximately 6.3 percent per year, poverty headcount falling from 34 to 15 percent, and 11.8 million new jobs created.

Publication Source

SouthAsia

Publication Date

3-1-2023

Pages

22-24

Notes

Published as a cover story in SouthAsia magazine, March 2023. The writer bio states he was Governor of the State Bank of Pakistan, also served as Dean of the IBA, until recently held a cabinet position, and has authored several books. IH0061

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