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WEEKLY NEWSLETTER
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Pakistan
Index
As of early 1994, foreign tourism remained relatively
undeveloped. Annual tourist arrivals averaged 442,136 for
the
period 1985-89 but fell to 284,779 in 1990 because of
uncertainties generated from the Persian Gulf War. The
number of
tourist arrivals rose to 415,529 in 1991. Many of the
arrivals
are visitors of Pakistani origin who have settled in
Europe and
North America. Pakistan has considerable tourist
potential, but
the generally poor law and order situation in the late
1980s and
early 1990s discouraged rapid growth. Hotels meeting
international standards are concentrated in the larger
cities,
especially Islamabad, Karachi, Lahore, Peshawar, and
Rawalpindi.
In early 1994, the immediate future of the economy
appeared
uncertain. Although the economy is responding well to the
government's liberalization program, and many sectors
appear
poised to achieve healthy rates of growth, economic
prospects are
constrained by the government's large budget deficits, the
continued absorption of public expenditures by defense and
interest payments, and the perception of widespread
corruption.
Pakistan remains heavily dependent on foreign aid donors.
The
failure to address more adequately the nation's low levels
of
education and health is also likely to act as a constraint
on
economic growth in the remainder of the 1990s.
* * *
Two publications from the Economist Intelligence Unit,
the
annual Country Profile: Pakistan, Afghanistan and
the
quarterly Country Report: Pakistan, Afghanistan,
provide
up-to-date information on the economy. More detailed
analysis is
found in two annual publications of Pakistan's Ministry of
Finance, the Economic Survey and the Economic
Survey
Statistical Supplement. Two monthly periodicals, the
National Bank of Pakistan Monthly Economic Letter
and the
Economic Outlook are also useful. Shahid Javed
Burki
deserves special mention as one of the most astute writers
on the
Pakistani economy, especially as it relates to the
nation's
historical and social legacy. His Pakistan: A Nation in
the
Making and Pakistan: The Continuing Search for
Nationhood all include important essays pertinent to
the
economy, as does Pakistan under the Military,
coauthored
by Craig Baxter. Other recent general accounts of the
economy
include Nadeem Qasir's Pakistan Studies, B.M.
Bhatia's
Pakistan's Economic Development, 1948-88, and Anita
M.
Weiss's Culture, Class, and Development in
Pakistan. (For
further information and complete citations,
see
Bibliography.)
Data as of April 1994
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