While the understanding of Pakistan is beset by dominant stereotypes centred on terrorism and militancy, this nation of around 200 million presents a much more complex country case study. The paper will attempt to provide a composite analysis of Pakistan’s economic performance and prospects. First, the paper will review the major macroeconomic, fiscal and monetary indicators, as well as business parameters, and human development challenges relative to evolving demographics. Second, major issues of public policy and institutional reform will be addressed, as well as the challenge posed by climate change to an agrarian economy with the world’s largest contiguous irrigation system. Third, the potential impacts and benefits of the proposed China-Pakistan Economic Corridor will be discussed, raising the question whether this will be an economic game changer after some decades of relative malaise. Fourth, the paper will conclude by identifying some major causative factors underlying Pakistan’s political economy.

Professor Imran Ali is Rector/Dean, and Professor of Business Policy, at the Karachi School of Business and Leadership in Pakistan. He has been Professor of Economic History and Business Policy, and Jamil Nishtar Professor of Agribusiness, at the Lahore University of Management Sciences, Pakistan, and has also taught Economic History at the University of New South Wales and the University of Melbourne. He has held several visiting positions, including Institute of Commonwealth Studies and School of Oriental and African Studies, University of London; Harvard Business School; and University of Sydney. His research work is on Pakistan’s economic history, issues of political economy, agribusiness, and business development and strategy.