Logo

Synopsis The present volume of Pakistan Almanac 2004-05 depicts added dimensions to the activity of life in Pakistan in all walks of life in general and in economic sectors in particular. Attempts have been made to objectively project the picture of development in various aspects of life in the country. In this respect all documents have been studied and all possible data has been collected for this volume to make it a useful source of information on Pakistan. It may be mentioned that, the developmental activity was more prominent in the field of politics with a democratic character as well as in the socio-economic sectors. The country has made progress towards improving financial management, which manifestly appeared in gaining considerable economic stability to inspire confidence of local as well as foreign investors that resulted in substantial gains. Moreover with the increase in export earnings and inward flow of remittances of Pakistani work force abroad the situation has greatly improved in the foreign exchange reserves, which reached the figure of 12 billion dollars that, had never been achieved in the past. So much so some of the foreign and domestic debt has been retired, which indicated good progress in monitory policy of the present government. Perhaps it was the first time that Pakistan could attain the fiscal capability to repay the debt unlike previous years with a sad record of incurring debt from whatever quarter. This singular progress was attained on the basis and faithful implementation of sound economic policies of the present government under the guidance of the President General Pervez Musharraf. On the domestic and internal front the government was faced with serious problem of terrorism and extremism which was effectively checked under clear cut policies of the government and by adopting pragmatic measures that enhanced the integrity of the country in great measure. So much was the impact of judicious handling of the government in curbing the menace of terrorist activities from across the border and inside the country that inspired the confidence of US President George W. Bush, to declare Pakistan as a non-NATO ally. This development was another important step which the government has achieved with a fair degree of success. The soundness of policies pursued by the government amply proved by the peaceful environment for economic well being of the people of Pakistan.