Privatization – Blessing or Curse

English Essay on "Privatization – Blessing or Curse"

Pakistani economy has been through various phases over the time. The have been a long periods of recessions and even booms. The economy have grown up to a level it is not able that Pakistani economy is one of the major economies of the world as for as volume is concerned. The economy in the recent decade has worked dramatically. Various sector contributed to wards it. Primarily it is divided into two obvious factors as external and internal. The external factors may be considered as of high impotence as a nation as Pakistan is paying a heavy cost of war against terrorism after attacks on world trade centre and pentagon. But at the same time major powers of the world have deep interest in a stable and vulnerable Pakistan. Because internal stability of a nation cant be achieved without economic stability so Pakistani economy is aided at many times during last decade by big guns. Not only in terms of structural revolution but also in the terms of financial aids. The internal factors include the liberalization of economy, incentives in investments, and up large extent frameworks amendments.

The foreign investment in the form of FDI and FPI has contributed the economy in many terms. It resulted in structural changers, technological improvements, human resource developments, well being indicators of economy and international integration as new markets were accessed. As three major sectors like production, services and financial sector reached to developmental boom. Talking about product ional and industrial sector many entities like Communication, Food & Beverage, Oil & Gas and Financial were driven by huge foreign investment. Talking about raw manufacturing or low value addition sectors like Pharmaceutical, Engineering Products, Sugar, Cement, Automobiles and Fertilizers industries have seen many technological improvement that did not only returned in the form of return but technological improvements. Talking about the whole scenario we cant ignore the impact of privatization as it opened new horizons not only in product but also in services sectors.

Privatization is directly involved with FDI as it provides room to foreign investors to operate in open market and competition based market structure. We have seen despite of political instability, law and order issues, and many non ignorable factor the investor took a great interest in investment in Pakistan as compared to any other state in the world. A lot of investment made in the sectors which were privatized by the government. There are number of examples there like PTCL, UFONE etc… As a researcher having a deep interest in national economy I think there is a lot of room for such a study where we can check the impact of privatization on Pakistani economy during last decade are so. Not a massive work has been done in this regard. That study will help not only in creating public awareness but also to policy makers to see the over all impact of privatization on economic performance of the country.

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