How did world 7th richest country ended up here

[Falcon26]

Nationalism kills innovation and private investment

Only successful examples are monarchs in oil industry where it did work(middle east) otherwise it hasnt worked

So while pakistan was still making TIPs phone world was making mobile phone..we were leading in 1960s yet stuck there

you mean nationalization? Two different things!

 

[ziaulislam]

you mean nationalization? Two different things!

Correct an autocorrect error

 

[Yaseen1]

I think Hindering spending on infrastructure necessary also decrease exports and foreign investment .Govt should promote foreign investment in such spending but if govt intention for spending on infrastructure is to build new dams, metros for promoting public to use buses and metro trains instead of using cars and motorcycle it will result in decrease consumption of oil and import bill in longrun.Similarly spending of govt on research and development will help govt to raise money from patents and helpful for training public and will result in increase of exports

 

[ps3linux]

Zimabawae argentina pakistan all did the same thing
Nationalism, govt spending, currency manipulation and imports encouragement ..result infront of you

Our problems can be summarized in
1. Bhuttoism(nationlization and govt institutes corruption)
2. Darism(currency manipulation)
3. Nawazism(govt spending)

Bhai just to add few points managing nationalized/national institution we could learn from Temasek Group Singapore, strangely the group came into being after studying NIT (Pakistan structure) almost decade post NIT's creation and look at where both are today.

nationalization was the worst thing which happened to Pakistan is destroyed the economic growth/industrialization couple it with incompetent bureaucrats and their cronies managing these nationalized institutions, and we will see stupid institutions like Roti Coporation of Pakistan.

People think of Gen. Zia as exact opposite to bhutto he was actually the worst because he along his pack of thieves made Pakistan a plotistan, ever one became a property dealer because there was money to be made from speculation on real estate schemes which existed only on a piece of paper.

It was one hell of a cultural shock when I came back to Pakistan few years ago, no discussion be it official, friends, social was complete without discussion on plots, second worst rental income, one of the reason US has one of the worst tax laws on investment in real estate, conversion of agricultural property into commercial ventures is an anathema. Here its still damn plots,plots and plots. As a finance professional one learn early it is the worst kind of investment on a national scale.

In tandem came Noora the traders era, the consumer economy everything focused on infrastructure projects roads, bridges, imports, luxuries.

 

[ziaulislam]

Bhai just to add few points managing nationalized/national institution we could learn from Temasek Group Singapore, strangely the group came into being after studying NIT (Pakistan structure) after almost after a decade of NIT's creation and look at where both are today.

nationalization was the worst thing which happened to Pakistan is destroyed the economic growth/industrialization couple it with incompetent bureaucrats and their cronies managing these nationalized institutions, and we will see stupid institutions like Roti Coporation of Pakistan.

People think of Gen. Zia as exact opposite to bhutto he was actually the worst because he along his pack of thieves made Pakistan a plotistan, ever one became a property dealer because there was money to be made from speculation on real estate schemes which existed only on a piece of paper.

It was one hell of a cultural shock when I came back to Pakistan few years ago, no discussion be it official, friends, social was complete without discussion on plots, second worst rental income, one of the reason US has one of the worst tax laws on investment in real estate, conversion of agricultural property into commercial ventures is an anathema. Here its still damn plots,plots and plots. As a finance professional it is the worst kind of investment on a national scale.

In tandem came Noora the traders era, the consumer economy everything focused on infrastructure projects roads, bridges, imports, luxuries.

Agree nawzism(useless excessive govt spending) darism (currency manipulation) and bhuttoism(subsidies and state institution corruption /inefficieny/over jobs) destroyed pakistan.....

Problem is these three ideas are still widely popular in pakistan

 

[AViet]

Thus only country in the world going from developed country to developing country

I do not know exactly what is developed status, aside from GDP per capita. However, a lot of other countries were (Soviet Union, some East European countries like Romania). Venezuela, Brazil or Mexico were once rich, but they are all developing now.