Pakistan seems to be returning to more stable, prosperous state: The Economist


ISLAMABAD, March 10 (APP): Highlighting the political and economic stability achieved in recent years as well as the successful holding of PSL final in Lahore, an article carried by The Economist said, Pakistan seems to be returning to a more stable and prosperous state.
“The first thing to come back was the prime minister. Having twice held Pakistan’s highest office before the army toppled him in 1999, Nawaz Sharif returned from exile to win it back in 2013.
“This was a personal triumph but also a historic moment, marking the only time since Pakistan’s founding that one elected government has completed its term and passed power to another. It also turned out to be the first of a heartening series of signs that Pakistan itself seems to be returning, slowly and haltingly, to a more stable and prosperous state,” the article observed.
It said, “For the eight years since terrorists attacked a visiting Sri Lankan team, Pakistan’s cricket-mad citizens had forfeited the joy of watching top international matches on Pakistani soil.
“But on March 5th Lahore, the capital of the province of Punjab and site of the attack in 2009, hosted the final match of the Pakistan Super League, a lucrative franchise with many foreign players,” the article noted.
According to the article, “More broadly indicative is that Pakistan’s stock market has risen faster than any other in Asia over the past 12 months, by a heady 50%.”
“Poverty has fallen and the urban middle class is growing. Nestl’, a giant maker of processed foods, says its sales in Pakistan have doubled in the past five years, to over $1bn,” it added.
“Across much of the country, too, lights are coming on again. When Mr Sharif resumed office four years ago Pakistanis rarely enjoyed more than 12 hours of electricity a day,” the article noted.
It said, “Big investments in power infrastructure mean that power cuts are now down to a more manageable 6-8 hours a day. The government hopes to eliminate them entirely in time for national elections next year.”