Economic Crisis of Pakistan 

When we see country like Srilanka, people of Pakistan become terrified and pray that Almighty will save us. But when they compare their country with developing nations, they feel proud for many things and moving towards development. I never understand these two circumstances.

Textile Mil Bangladesh
(Courtesy: https://apparelresources.com/wp-content/uploads/2019/02/Textile-Mill-Bangladesh.jpg)

Most of the time citizens of Pakistan raise voice and asked about how Bangladesh is becoming Asian tiger. Yes a common citizen thanked God that we are far better than Srilanka and crisis like Srilanka are not happing in Pakistan. But are there any reasonable answers about development of Bangladesh.

Sometimes ago interior minister of India commented for Bangladesh that if allow refuges from other countries, Population of Bangladesh would be remain half in their country. In response minister of Bangladesh said that Bangladesh is not considerable poor as you people are assuming. This was the courage which put Bangladesh on progressive path.

Bangladesh Bank
Courtesy: 1502862302.jpg (900×600) (thefinancialexpress.com.bd)

Citizens of Pakistan are usually are fond of comparing country to other countries but in Pakistan people can speak about Srilanka openly but they don’t have courage open their mouth about Bangladesh. Citizens of living in Pakistan are very reluctant to reveal why Bangladesh is moving so fast in development. People of Pakistan can openly express their thoughts about development in Japan, China and Malaysia, but they never speak about development in Bangladesh, only some true liberals express their thoughts.

Let’s try to analyze some aspects about development in Bangladesh.

In the beginning conditions of Bangladesh was same as Pakistan. But later on it get smoother and stronger in economic growth. Story begins in 2006. Pakistan in those years faced a terrified power outrage and terrorism therefore many industrialists from Pakistan and many brands moved to Bangladesh. It became a new dawn to Bangladesh. And most of these were of clothing and garment category. Since then Bangladesh is the second largest exporter of garment items with 81% margin after china.

In this progressive movement banks at Bangladesh were very helping. They deliver small amount loans to small industrialists on very easy installment basis. This is also happening Pakistan but interest rate is too high and many people avoid getting small loans because of hidden and hectic charges from banks in Pakistan. Once a person came into net of loans in Pakistan banks he or she will cried and ask God for help.

Another reason behind success of Bangladesh is population control. Population growth rate in Bangladesh is about 1.1% as compare to Pakistan have 2.2% growth rate. Population of Bangladesh in 1971 was 42 million where in that same year population of Pakistan was 37 million. But now Pakistan have population to 2200 million as related to Bangladesh where now population 1700 million there is a huge gap of almost 50 to 60 million populations.

Economy of Pakistan
Courtesy: Economy-of-Pakistan.jpg (600×409) (thelondonpost.net)

Average annual income in Pakistan is $1250, in India it is $2250 and in between Pakistan and India what can you expect income of a Bangla person, it is near $2900 more than double from average Pakistani income.

It is amazing that Bangladesh once it was part of India and then Pakistan but now it is obliging and fantastic.