Pakistan is a South Asian country with a population of more than 212.2 million people. Geographically significant since it has borders with China, India, and Afghanistan.
Since its establishment, Pakistan has experienced numerous obstacles due to its geographical location and regional politics. One of these issues is a sagging economy.
Regarding GDP and other primary economic measures, the answer to whether or not Pakistan is a poor country is a resounding ‘Yes,’
Pakistan is one of the poorest nations in the world. IMF estimates that the Nominal GDP per capita in Pakistan is $1,543. UNDP Human Development Index ranks Pakistan 152th out of 188 countries for 2019.
Yet, Pakistan is a populous country with rich resources, and Pakistan has a huge potential to grow.
Pakistan is a country that I love. Click to check my other articles on Pakistan. I also linked them all at the end of this article.
Is Pakistan a poor country?
Pakistan is a poor country. According to the United Nations multidimensional poverty index (2021), an estimated 38.3 percent of Pakistanis live in multidimensional poverty.
A big majority of Pakistanis have poor Living standards and have low access to education and healthcare.
Pakistan, like its South Asian neighbors India, China, and Bangladesh, suffers from overpopulation.
The population of a country has a direct impact on the economy of that nation. The growth of the Pakistani economy could not reach the pace of population growth.
For these reasons, even if the economy of Pakistan grows, income per capita does not.
Regarding poverty, there are significant differences between provinces, with KPK and Balochistan being significantly poorer than Sindh and Punjab.
Throughout the country, there is a comparable trend in the income gap between large and small cities.
Accordingly, the development, facilities, and security you will find in Pakistan will vary depending on where you are in the country.
How Did it All Begin?
Pakistan has seen both prosperity and stagnation throughout its economic history.
In 1947, as the British turned over power to the Indian people, Pakistan emerged due to the partition of British India following an ideology of religious differences.
Pakistan became a country in its own right. Since independence, Pakistan has faced numerous economic challenges.
Following separation, Pakistan gained control of the majority of backward and undeveloped districts in the region. These regions mainly produced raw materials, with little to no industry to put them to use.
Also, poor economic policies, overcrowding, and a political structure in a state of acute instability have contributed to Pakistan’s deteriorating financial situation.
Despite these challenges, Pakistani culture is very rich and breathtaking in some instances. Check out my Pakistani wedding, Pakistani Languages, and Pakistani Fashion guides to learn more.
Is Pakistan a poor or poorly managed country?
The leading cause of the high percentage of child labor in Pakistan is also attributed to poverty. Four million Pakistani children work to support their families.
Even though Pakistan has been a poor country since its founding, its economy developed tremendously during the eleven-year of Ayub Khan’s government.
After his reign, the economy deteriorated again, and it has stagnated or fallen ever since.
Wrong political players manipulated the country over the years. As a result, it can be confidently stated that the country’s economy is poorly managed.
Bad resource management, incorrect government policies, poor governance, increasing debt burden, reduction in the GDP growth rate, decline in competitiveness, increasing illiteracy, and growth rate contribute to rising poverty in Pakistan, among other things.
For more, we suggest our article: Is Pakistan a Third World Country? Explained
Is Pakistan a good country to live in?
Over time, various governments have launched schemes aimed at poverty alleviation.
These include social security schemes, employees’ old-age benefits institutions (1976), microfinancing, Khushhali bank (2000), and many others, but unfortunately, government policies about poverty alleviation have had little success.
The country’s renowned economist Dr. Hafiz Pasha has been on record saying that by the end of the fiscal year 2019, 10 million more people would slip below the poverty line while eight million had already been added last year.
Pakistan faces several challenges in day-to-day operations due to increased poverty, unemployment, and a scarcity of resources.
Despite these challenges, Pakistan is a pleasant place to reside. Suppose you have a decent education and abilities. In that case, you are just as acceptable in Pakistan as you are in any other country in the world.
To put it simply, if you have financial means, you will have access to quality education, health, food, and better social services.
Click to read Is Pakistan part of the Middle East or Asia? (Explained)
Is it safe to live in Pakistan?
Regional politics have always plagued the country, notably the India-Pakistan rivalry and the Afghan conflict.
These conflicts presented more challenges for Pakistan, further preventing Pakistan from achieving the success it deserves economically, politically, and socially.
Pakistan is a naturally lovely country, and the people are generally compassionate toward one another. On the whole, I believe Pakistan is a stable country to live in and conduct business.
To learn more about dress codes in Pakistan, please read: What to Wear When Visiting Pakistan? A Local Answers
Is it safe to travel to Pakistan?
Pakistan is known as a dangerous destination for tourists. Yet, 6.6 Million international tourists visit Pakistan each year. Nearly all return safely back to their countries.
I believe Pakistan is an underrated country as a travel destination.
Pakistan’s captivating natural beauty can be found in the country’s northern regions, which also boast a particularly welcoming populace to tourists and visitors.
Several well-known bloggers and vloggers from various nations have visited the country multiple times without encountering any security issues.
They have also expressed tremendous gratitude to the people of Pakistan for their warmth and generosity toward them.
Learn more about Mosques: Click to read 10 Must-Have Features of Mosques
How poor is Pakistan in comparison to India?
India and Pakistan have always been regarded as fierce rivals, but they are now faced with a much more complex problem of rising poverty.
The poverty line in India is 29.5 percent, and the poverty level in Pakistan is 24.3 percent, according to the most recent data available in 2015.
The majority of the population in both Pakistan and India, particularly in rural regions, lacks access to food and health care.
India is faced with a more significant percentage of poverty than Pakistan because its population is much bigger than Pakistan’s.
Is Pakistan a more secure country than India?
When it comes to safety comparisons, there is no difference between the sides of the border. If there are any security difficulties in Pakistan or India, the same issues exist on the other side.
The people on both sides are generally friendly, and there are excellent travel destinations on both sides.
Even though Pakistan is periodically confronted with severe security risks due to regional politics and militant groups in action, the country has a formidable combat force that can end such proactive measures before they even begin.
Several operations were conducted by the Pakistan Army to end terrorist elements, and the results showed a dramatic decline in all types of militant activity.
So, Pakistan and India can both be equally regarded as safe for tourists and visitors.
SUGGESTED READING: Is Pakistan an Arab Country? Ethnicity of Pakistan
Are Pakistan and India poorer than Bangladesh?
According to current statistics and estimates, Bangladesh has surpassed its parent countries in terms of wealth in recent years.
Women’s empowerment played a crucial role in the development of the Bangladesh economy.
In June 2021, the Bangladeshi Cabinet Secretary stated that the country’s per capita income had increased by 9 percent in the previous year, reaching $2,227 while the per capita income in Pakistan was $1,543.
Bangladesh was 70 percent poorer than Pakistan when it gained independence from Pakistan in 1971. Still, today it is 45 percent richer than Pakistan.
In terms of per capita income, India, which claims to be the economic powerhouse of South Asia, is also poorer than Bangladesh.
India’s GDP per capita in 2020-21 was around $1,947, which is significantly lower than Bangladesh’s GDP per capita of $2,227.
The cause for Bangladesh’s progress may be traced to sound economic policies, which emphasize women’s empowerment in particular, and the country’s absence from regional politics.
India and Pakistan have stayed embroiled in bilateral issues such as the Kashmir conflict, which has resulted in three wars in the past; significant expenditure on defense and warfare to increase deterrence against each other is a major economic setback for both countries.
Because of its engagement in the Afghan war, Pakistan was also forced to battle terrorism.
In contrast, Bangladesh stayed out of regional or international politics unless it was beneficial to their economic interests, which was rarely the case.
Is it possible for Pakistan and India to develop their respective economies?
For the benefit of their populations, Pakistan and India must prioritize economic growth above all else.
An excellent bilateral trade agreement can assist the two countries in coping with the mutually increasing problems of poverty and unemployment.
The two countries must stop indulging in and centering their foreign policy on confrontation. They must agree to go forward with trade while putting aside their old grudges and resentments towards one another.
Otherwise, the two countries will continue to suffer, and international entities will continue to use their joint problems to influence regional politics.
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