29
Jan
3

Some Different Claims from Pakistan

kpt-towersCriticism for Pakistani politicians, state of military-civilian relations and covert support to terrorism comes easy for anyone. There is so much to complain about Pakistan that very rarely does anything positive gets to the attention of the outside world. In one such rare instance, the Foreign Affairs, January-February 2010, carried a section on Pakistan Regained. Though some of the political claims carried in this sponsored section can be contested, the eight page attempt at PR throws light on some unnoticed facts about the crisis-ridden country.

[Karachi Port Trust Towers]


Here are a few claims in the article that have escaped popular attention:
1) In 2005 Goldman Sachs developed the notion of “Next Eleven” (N-11) – the next group of large population countries that had the potential of growing to rival the G7 economic power. The concept looked beyond the BRIC (Brazil, Russia, India and China) countries and included Pakistan.
2) Pakistan is South Asia’s second biggest economy and, in its 60 year history, has never experienced negative growth, averaging more than five percent annually.
3) The middle income class of the country is 40 million.
4) In 1947 Pakistan’s textile industry comprised of one cotton mill. Today, textiles contribute 8.5 % to GDP and provide employment to 15 million people.
5) The Karachi Port Trust, under a Public-Private Partnership, has undertaken the dredging of the world’s first 18-meter container Port, expected to be completed by 2013.
6) National Bank of Pakistan increased its profit from US$ 12 million in 2000 to US$ 335.5 million in 2007. NBP was also awarded the “Best Foreign Exchange Bank 2008” by Global Finance.
The article thankfully departs from the usual political trend of blaming the West, Afghanistan or India for the country’s problems. There is recognition that the current state of domestic challenges was aggravated by the poor state of the country’s economy and infrastructure. The economic recovery is expected not to be simply dependent on U.S. dollars, but more crucially on dealing with structural problems like severe energy crisis, water shortage and unemployment.
Full page advertisements by the NBP and Karachi Ports Trust lend the impression that the claims are guided by commercial interests and are largely self-serving. Nevertheless, it is heartening to see that someone other than Pakistani politicians is attempting to highlight future possibilities in Pakistan. Moreover, the choice of Foreign Affairs as a medium should not be lost. The message is succinct and audience selective.

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3 Comments:
  1. amit 29 Jan, 2010

    To base future outlook on past performance in case of pakistan isnt very meaningful… i dont thinks were ever as bad in pakistan in terms of terrorism… international isolation and image…
    Poltical unstability has been a constant for pakistan for forever now but the afghan war and growing rift between muslim nations and the west is taking its toll on pakistan…

    i am not sure future looks bright unless some stability is restored…

  2. amit 29 Jan, 2010

    btw, is that picture for real? that looks like al burz (or whatever) in dubai…

  3. Madhavi 29 Jan, 2010

    You are right..it’s not for real yet….its proposed.
    The Port Tower is a building planned for Karachi, the financial capital ofPakistan, with the collaboration of local and foreign investors, in association with the Karachi Port Trust. When completed, the new structure will be 1,947 ft (593 m) high. The height of the tower has a special significance, as it represents the year, 1947, when Pakistan became independent. The Port Tower is projected to be the tenth tallest building in the world when completed.
    The new tower is part of a complex which will be constructed on artificial islands in the shape of symbols found on the flag of Pakistan- a crescent and a star. It will consist of a hotel and a shopping center, as well as an extensive area to host large-scale expositions. Integrating into Karachi’s skyline, main features of the venture will include a revolving restaurant and a viewing gallery offering a panoramic view of the coastline and the city. The construction site planned for this building is located along the Clifton shoreline of the crescent-shaped island. When completed, the Port Tower will be the tallest building in the country.

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