Pakistan’s province of Balochistan is one of the least water-secure provinces in Pakistan. Not only does this make farming difficult, it makes life itself quite uncertain. That is why the World Bank today announced that it had approved a $200 million credit to help Pakistan bring community-based water management to this region.
Since the 1980s, rapid globalisation — driven in part by the unprecedented pace of technological change, especially in information and communications technologies (ICT) — has allowed developing countries such as China and India to achieve exceptionally high rates of economic growth.
The World Trade Organisation (WTO) has announced plans to partner with Pakistan to help it grow its export capacity under an “Aid for Trade” initiative. The plan would add value to Pakistan’s products, improve its workforce, provide training, and help the country explore new markets around the world.
The State Bank of Pakistan (SBP) and the World Bank have announced plans to collaborate on a new electronic payment system designed specifically for use in Pakistan. SBP Executive Director Muhammad Ashraf Khan announced the collaboration Thursday.
Unlike India and Sri Lanka’s uninterrupted commitment to democracy since independence, Pakistan, Bangladesh and Nepal have yet failed to attain democratic consolidation. Since independence in 1947, Pakistan has experienced democracy for only about 28 years.
The public park targeted in the recent suicide bombing in Lahore was popular with families. It is one of the largest green spaces in the city; a place where middle- and working-class Pakistanis go to picnic, exercise and play with their children. The attack targeted Christians — a predominantly working-class community in Pakistan — who were celebrating Easter. Yet most of the 72 people killed were middle- and working-class Muslims.
The World Bank has recently released its Macroeconomic Outlook, 2015. In the report, the World Bank predicts strong growth for Pakistan for the next two years. That growth includes steady expansion with low inflation supported by an improving external position and strong new fiscal policies.
After a dramatic end to 2014, Pakistan has gradually moved towards greater political and economic stability. This has been largely due to its successes in reducing terrorism, which injected new hopes about the country’s ability to handle crises. The turning point was the December 2014 terrorist attack on the Army Public School (APS) in which over 150 people, mostly children, were killed.
Pakistan started 2015 with a lot of hope and the opportunity to correct its course in the wake of the tragic deaths at the Peshawar school shootings in December 2014. Yet, as the government dithered, the army took anti-militancy operations into its own hands, compelling the government to publicly come on-board.
Much of Pakistan’s politics throughout 2015 has revolved around the army’s actions and the government’s apathetic approach to governance. Despite ongoing problems, there have been some notable achievements.
The World Bank has released its December 2015 report titled “Toward a More Business Friendly Tax Regime: Key Challenges in South Asia.” In it, the World Bank warns that Pakistan’s tax rate is unusually high, particularly for a nation in a developing region. In fact, it is the third highest rate in the world.
