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The worst losses to Pakistan's economy during the year 2010 were due to the situation of war on terror, lawlessness, crime and security that reduced the direct foreign investment, and constraints of local investment in business and industry, agricultural.
Crime is a critical issue that can have even greater implications for the national economy, far greater than can ever be imagined. The preliminary Year 2011 report, compiled by Hamid Sultan, President of Pakistan Economic Resource Centre, envisages joint working of every citizen, required to bring changes in the eradication of poverty.
The Report said: "On our economic fronts, we own these factors; consume more and save less. We import more and export less; the government spends more than it earns as avenues. Our share in the world trade is shrinking; we badly lag in social infrastructure.
We face energy and water shortages indicators; our cost of doing business is high. Crisis of governance, and implementation, weaknesses uncertainty and unpredictability due to lack of continuity are borne to problems. For political instability, law and order/security, we need to improve economy, change in national psyche and mindset, building up of human capital, use of technology, young labour force governance, and devolution and decentralisation. The report says: "For the new year, a big question before the nation is where do we start and how do we end; how we pen down our fears, our shortcomings, our failures and our unpredictable lives ahead.

Copyright Business Recorder, 2011

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