We have been hearing that Pakistan is a poor country ruled by the richest people of the world. This has always been a common perception. But now some informed people are coming up with solid evidence that this perception is misplaced and in fact a mis-perception. Pakistan was never a poor country. It was ruled by poor people, having poor morality, poor leadership skills and poverty with all its manifestations except of course in terms of dollars.
We now know that Pakistan is one of the richest countries of the world, yet it has to invite IMF every now and then and remains in perpetual domestic and foreign debt. Imagine, the country has the second largest salt mine in the world, fifth largest gold mine, seventh largest copper mine, fifth largest coal reserves, seventh largest wheat and rice production capacity (can be enhanced to be the largest), is eighth in the rankings of fresh water availability with 2,053 cubic meters of water per person in 1995.
Then what are the reasons of the poverty of one of the richest nations on earth? Mismanagement of its resources, poor economic management, greed of a few influential people to plunder whatever they can, its ever-growing population which is in fact multiplying as per Malthusian theory? Please do grumble and criticize as it is your right, but before doing that don’t forget to count your blessings.
Whatever are the reasons of its poverty, it is a fact that world’s one of the richest countries has one of the poorest economies. Look at other examples. Take the case of Dubai. What has it got in terms of natural resources? It is only a trading hub and it has thrived on that, thanks to legendary tribal wisdom of desert people. It has no agriculture, no mineral resources. It does not even has water of its own except, of course the sea water which it is exploited to the maximum to become one of happening economies.
Express Tribune has recently published an interesting analysis titled: Pakistan: poor economy, rich country by Saqib Omer Saeed. Please click Express Tribune to read and enjoy the article.