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INTRODUCTION:
Over the past few years Pakistan has taken big strides in the field of economic development. With average growth rate of around 8%, Pakistan is second only to China in Asia. The economic boom has come as a result of solid policies pursued by the present government. Rich experience in financial management of the present government has helped the nation to achieve landmark success in all fields of development.
Gone are the days when Pakistan had no foreign exchange. Now Pakistan has more than $12 billion in foreign exchange reserves. Foreign investors were reluctant to invest in Pakistan. This government has strengthened the political and social stability and revived the confidence of the foreign investors. Now the situation has diametrically changed. The investment climate has improved enormously and now foreign entrepreneurs are coming forward with billions of dollars as direct investment. Credit must be given to far-reaching economic policies of President Pervez Musharraf and Prime Minister Shaukat Aziz. They have done a Herculean effort coupled with immense and multi-facet experience in putting Pakistan's economy back on the rails.
There is hardly any field of life in which remarkable progress has not been made. The government has concentrated on providing infrastructure everywhere. Having realised that big water storages are a dire necessity for agriculture which is the backbone of our economy, it has embarked on an ambitious plan to build five mega water reservoirs. This is going to revolutionise the economy of Pakistan as billions of dollars investment will generate immense job opportunities, generate thousands of MW of power, not only supply enough water for irrigation but will help bring vast tracts of arable land under cultivation which is still unutilised. On the other hand government is encouraging privatisation to bring fresh innovative minds in different enterprises.
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