By Laiba Shakeel
The economy of the Islamic Republic of Pakistan, a country in its developing phase, is undoubtedly a challenge. It frequently faces ups and downs, but has potential recognised by some of the world’s biggest names. There are several industries producing export quality goods, which then travel across the world, and are often found in large branded labels. Today we explore the economy of Pakistan, through its multiple aspects and facets
Playing a massive role in sustaining the livelihood of a huge proportion of the population, as well as holding up much of the country’s economy, exports from Pakistan are massive in number.
Let’s dive deeper and take a look at what Pakistan exports. Textile products like raw cotton, cotton yarn, synthetic products, leather, carpets and rugs are produced throughout the country. Pakistan’s Basmati rice is world-famous for its long grains, and distinct flavour - perfect for a Biryani. Sports goods, surgical products and engineering goods also play a huge role. The official Olympic and FIFA World Cup football were also made in Pakistan, among half the world’s other balls also made in the country.
There are, however, items that Pakistan does not produce, and are imported to meet demand. Items like petroleum, vehicles and other intricate parts are brought in from friendly nations like China and the United Arab Emirates.
Gas reserves in Balochistan also contribute to the economy. Coal mines , salt mines and other natural reserves play a huge role as well, with Pakistan being home to the world’s second largest salt mine at Khewra.
Pakistan's economy faces many challenges and ups and downs, however, as the economy of a developing state, it has done extremely well in recent years. As we continue to work towards an even better nation, we must remember that till date, everything we have achieved has come from faith, unity and discipline. The young population of Pakistan is playing its role in the economy through multiple, quality means. Amid this recent pandemic, Pakistan has shifted its focus from cash produce, to high-quality medical equipment for frontliners within the country and across the globe. May we continue to prosper with hard work, determination and most of all, unity.