Q-2 = What are obstacles to economic development of Pakistan
OBSTACLES IN THE ECONOMIC DEVELOPMENT OF PAKISTANObstacles in the economic development of Pakistan are too many. These have been divided into economic, social and political obstacles.
SUGGESTIONSThere are many other obstacles also in economic development of underdeveloped countries like Pakistan. The obstacles have been divided into three major groups, which have mentioned above. It is therefore suggested that the above obstacles should be removed from developing countries like Pakistan. The details of the above points have already been discussed in the chapter of “characteristics of developing countries”.
OBSTACLES IN THE ECONOMIC DEVELOPMENT OF PAKISTANObstacles in the economic development of Pakistan are too many. These have been divided into economic, social and political obstacles.
ECONOMIC OBSTACLES
1. Lack of capital
2. Under utilization of natural resources
3. Rapid population growth
6. Shortage of modern technology
7. Dependence on agriculture
6. Lack of infrastructure
7. Inefficient banking and financial sector
SOCIAL OBSTACLES
1. Caste system
2. Heavy consumption
3. People are conservative
4. High illiteracy rate
5. Non-materialistic approach of life
6. No economic participation of women
POLITICAL OBSTACLES
1. Political instability
2. Lack of continuity in economic policies
3. Negative role of bureaucracy
4. Corruption in government departments
5. Lack of professional efficiency
SUGGESTIONSThere are many other obstacles also in economic development of underdeveloped countries like Pakistan. The obstacles have been divided into three major groups, which have mentioned above. It is therefore suggested that the above obstacles should be removed from developing countries like Pakistan. The details of the above points have already been discussed in the chapter of “characteristics of developing countries”.