Pakistan's Ailing Economy! Will our Wailing Resolve the Problem?
How many times do we have to remind ourselves that during the 1960s Pakistan had the fastest growing economy in the whole of Asia, Africa, and Latin America; that the South Koreans borrowed Pakistan’s second five-year plan as a guideline for their own economic development. And would you believe that in 1963 the Ayub Khan-led government gave a $25 million (Compensating for Inflation that would be more than $250 million in 2018.) loan to Germany (West Germany) for a period of 20 years? During this period a significant number of Pakistanis had migrated to the UK, the USA and some other European countries. There were a few thousand Pakistani immigrant workers in KSA, Bahrain, and Kuwait, but almost none in the Trucial States (Now UAE). The Trucial States was a British protectorate that existed from 1820 to 1971 before becoming the UAE. All these states were ruled by the British. Kuwait was granted independence in 1961. Bahrain became independent in August and Qatar ...