Review of Political Instability and Its Impact on Economic Growth of Pakistan

Abstract

The study was carried out in Pakistan since July, 2018. The major objective of the study was  to review the political instability in Pakistan and its impact on Pakistan  Economic Growth. Eighteen studies were downloaded from the net and reviewed in proper way and analyzed the situation and found the results. The results indicate that political instability is a very important factor which creates a great problem for the development of Pakistan Economy. When Pakistan came into being, the political turmoil’s and disturbances were more which had declined the economic growth of Pakistan and affect the Pakistan economy badly. Pakistan is still in the traditional stage and majority population depends on agriculture. The Pakistan economy is consisted of different ethnic and regional groups and every group take interest in their community while do not care the whole Pakistan. In the same way East Pakistan was separated since 1971 which is now called Bangladash. Till today no one have unity while they attacked on one another and four Marshal Laws were imposed by unavoidable circumstance. Liqat Ali became Prime Minister of Pakistan while he was killed in 1951. Instability was high in the Period of 1951-58 and at last  .Ayub Khan lodged the Martial Law in 1958 due to unavoidable circumstances and governed for 10 years. Then in the Ayub government disturbance was increased and  Martial Law was imposed by General Yaha Ya Khan in 1968 and in 1971 election was held. In this election Mujubur Rahman won the election in east Pakistan and Zulfiqar Ali Bhutto in west Pakistan. Disturbance was created in both wing of the country and east Pakistan was separated which is called now Bangladesh. After General Yaha Ya, Zulfiqar Ali Bhuto became Prime Minister of the west wing of Pakistan and governed for 7 years. In his era agitation was started by opposition parties in the country and made disturbance.  Ziaul Haq seeing to the situation  lodged the Martial Law in 1977 and he took some changes in the law and as a President governed over  11 years. In his era, he lodged the election on non party basis in the country and Junejo became Prime Minister of Pakistan in 1985 and General Zia took some changes by assembly in the national constitution by Assembly and strengthen his position in the country.  He exercised his power and dismissed Junejo in 1988 when he was on the foreign tour. However in 1988  Zia was killed in the Plane by blast. Then election was held and Benazir became Prime Minister of Pakistan. She worked as a Prime Minister for few years and dismissed by then president. Re-election was held and Nawaz became Prime Minister of Pakistan for few years while dismissed by President  and re-election was held and Nawaz became Prime minister of Pakistan for the second time while he was dismissed by General Peravaz Musharif and lodged the Martial Law on 12 October 1999 and governed over 9 years. On 2008 election was held and Zardari became President of Pakistan along with Yusaf Raza Gilani as a Prime Minister of Pakistan while he was charged in corruption by judiciary  and then Raja Pervaiz Ashraaf of People Party took oath as the Prime Minister of Pakistan . Zardari as a president  spent full tenure of the government while economic growth was not improved according to objective of the Pakistan five year plan. In 2013, election was held and Nawaz Sharif became Prime Minister of Pakistan third time. In the beginning of Nawaz government PTI has started agitation for 126 days in Islamabad for the dismissal of Nawaz Sharif government. He spent four year as a Prime Minister of Pakistan and CEPC project was approved. The beginning of his government was best and economic growth was interesting while dismissed by Judiciary in Panama case in 2016 and Abass Haqani became Prime Minister of Pakistan spent one year.  General Election was held on 25th July 2018 and Imran Khan won the election and became 22th Prime Minister of Pakistan on 17th August 2018. Opposition parties started agitation against Imran Khan. Now the situation is not seeing very good and strike have been started on road while PTI claimed that very soon positive change will be occurred in the country. The author think that if the situation of Pakistan government is instable how the country will be developed and positive change in economic growth will be occurred in Pakistan and the economy will be boost up because for development favorable environment in the country is required. The all story shows that economic growth in the army dictator ship was better than the Civilian Government. Not only political instability has decreased the economic growth but also flood, high interest rate by bank, earthquake, oil price increasing, disturbance of the European currency, coalition with US led terrorism, lack of coordination among center and provinces, military interference in the Judiciaries and other institution have affected the economic growth negatively. On the basis of mentioned problems the author of the paper recommend that political stability is required for the development of Pakistan; Unity in the country is requested; Peace and security are necessary for uplifting the country; Good investment environment is required for development of industries; High education and skill is required; Saving by government and Pakistani community is compulsory for reduction of foreign debt and Fair election process should be adopted in Pakistani culture;  Research based Universities should be made in the country for solution of problem;  Interest rate should be kept only 4%;  Poverty should be controlled at grass root level; Environment should be cleaned for foreign investor;  investment should be stopped outside the country; Police department and Judiciary should be strengthen in Pakistan for control of crimes in the country; Regional disparity and ethnicity should be controlled in the country. Through this way political stability will be occurred which boost up economic growth and the country will become prosperous in the future.

Keywords:-Review, Political Instability, Impact, Pakistan, Economy