Bangladesh has a resilient economy, will not collapse like Pakistan; is streets ahead of it in all-round development

Pakistan will never catch up with Bangladesh in the race for economic development. The GDP growth rate of Bangladesh increased gradually to 8.13 percent in the fiscal year 2018-19. In 2020-22, the impact of the novel coronavirus pandemic and the Russia-Ukraine war slowed down the growth rate of Bangladesh, but it was much higher than that of Pakistan and the growth rate is estimated to exceed 6.5 percent in the fiscal year 2022-23.

Sufian Siddique Mar 09, 2023
Image
Bangladesh-Pakistan

Pakistan's economy is on the brink of bankruptcy like Sri Lanka's. Pakistan's foreign exchange reserves have fallen below $3 billion. They asked the IMF for a 'bailout loan' a long time ago, but the IMF is trying to impose strict conditions that Pakistan's current ruling coalition has no capacity to meet. Even China and Saudi Arabia, Pakistan's long-standing friends, are now reluctant to shoulder Pakistan's burden. 

China has stopped power supply from the power plants built by Pakistan through Chinese loans after Pakistan failed to pay the long-delayed installments. Due to this, the people of Pakistan are suffering from frequent and long power outages. The value of the dollar against the Pakistani rupee has gone up dramatically; currently, Pakistanis have to pay 277 rupees to get 1 dollar.

Inflation in Pakistan has reached such an alarming level that the price of a kilogram of flour now exceeds 160 rupees and a kilogram of sugar is over 300 rupees. The main reason for this crisis is the burden of maintaining an outsized armed force of 700,000, including a half-a-million-strong army. It is not economically feasible for Pakistan to maintain such a large army just for war with India. Hostilities between the two countries began with the Kashmir War of 1947-49, which ended with an UN-imposed ceasefire. Although the 1965 war was not decisive, the diplomatic victory in the war settled by the Tashkent accord went to India. In the 1971 war, the Pakistani armed forces surrendered in Dhaka after being defeated by the Bangladesh-India joint forces, through which Bangladesh declared independence on 26 March 1971 and marched in victory on 16 December. In the last Kargil war of 1999, Pakistan was forced to accept a ceasefire and failed to achieve its military objective. 

As an inevitable consequence of this permanent state of war, the actual governance of the Pakistani state went into the hands of the military establishment 1958-71. And when the military is forced to give up power to the civilian rulers for some time, they kept the real reins of governance under their control. 

In the current phase, Imran Khan came to power through the election as a favorite of the military, but within a few years, due to a power struggle with then-army chief Qamar Bajwa, no one had any difficulty understanding that the military establishment was also behind the installation of Shahbaz Sharif, the present prime minister. ISI, the intelligence agency of the armed forces of Pakistan, plays a powerful tool of the military establishment in this power-grab game.

Pakistan's resource-gobbling military

In 2007 the book "Military Incorporation: Inside Pakistan's Military Economy" by Ayesha Siddiqui caused a stir around the world after its publication. After presenting the history of how Pakistan's military took control of Pakistan after 1947, Siddiqa describes and analyzes in detail how army officers, led by generals, came to dominate Pakistan's economy.

In 2005, the military economy became a major force in Pakistan's economy, with four armed forces-created organizations, the Fauji Foundation, the Army Welfare Trust, the Shaheen Foundation and the Baharia Foundation, becoming the country's four largest military-industrial enterprises. Fauji Foundation has 25 projects, Army Welfare Trust has 41 projects, Shaheen Foundation has 14 projects and Baharia Foundation has 19 projects—99 projects are mentioned in the book as of 2005. Military officers trump all others in Pakistan as the neo-landlord class due to the predilection of armed forces personnel to lease government-owned or encroached rural or urban land. Around 1.1 million acres of land across Pakistan have gone to the ownership of serving or retired officers and employees of the military. Several Defense Officers Housing Societies have now become the largest residential area in any large or medium city in Pakistan. The state of Pakistan will not be freed from the occupation of military forces in the near future, as per Siddiqa's assessment. 

The world's sixth-largest populous country, Pakistan's population has grown rapidly to over 250 million. Every year, after meeting the huge allocation for the defense sector, it is beyond the government's financial capacity to carry out the minimum necessary expenditure on public education and health. The country's annual export earnings still remain below $25 billion, while import spending is reaching $80-90 billion per year.  

Bangladesh has surged ahead 

Pakistan's position in the world ranking of the United Nations Human Development Index is going down every year. In 2022, where Bangladesh rose to the 129th position, and Pakistan's position dropped to 147th. In 2023 the comparative picture of Bangladesh and Pakistan is as follows:      

1) In terms of per capita GDP, Bangladesh has surpassed Pakistan by 80 percent. Bangladesh's per capita GDP in 2021-22 is $2793 and Pakistan's is $1547. 2) Bangladesh's export earnings are more than double that of Pakistan's, exceeding $52 billion in FY 2021-22. 3) Bangladesh's foreign exchange reserves reached $48 billion in August 2021, declining over the past 17 months to $24 billion in January 2023 as per IMF calculations, more than eight times Pakistan's. (According to the Bangladesh government's account, the foreign exchange reserve of Bangladesh is 32 billion dollars). 4) The average life expectancy of the people of Bangladesh is 73 years; 66 years in Pakistan. 5) The literacy rate of the people of Bangladesh is 76 percent, while that of Pakistan is 59 percent. 6) The total GDP of Bangladesh is 465 billion dollars, and that of Pakistan is 346 billion dollars. 7) Population growth rate of Bangladesh is 1.2 percent and Pakistan is 2.1 percent. As a result, the population of Pakistan has increased to 22.5 million, and the population of Bangladesh is 16.98 million. 8) 1 dollar is available for a maximum of 107 takas in Bangladesh; it is 277 rupees to a dollar in Pakistan. But till 2007 the foreign exchange value of the rupee was 8 percent higher than take. 9) Bangladesh's total foreign debt is 20.48 percent of GDP, while in Pakistan it is 46 percent of GDP. 10) 36 percent of women in Bangladesh work outside the home, compared to only 14 percent in Pakistan. 11) In Bangladesh the infant mortality rate is 21 per thousand, and in Pakistan, it is 59. 12) 100 per cent population of Bangladesh is covered by electricity, while 73 only per cent population of Pakistan is getting electricity.

The above data shows that Pakistan can never catch up with Bangladesh in the race of economic development. The GDP growth rate of Bangladesh increased gradually to 8.13 percent in the fiscal year 2018-19. In 2020-22, the impact of the novel coronavirus pandemic and the Russia-Ukraine war slowed down the growth rate of Bangladesh, but it was much higher than that of Pakistan and the growth rate is estimated to exceed 6.5 percent in the fiscal year 2022-23. Development thinkers are optimistic that the economy of Bangladesh, a low-middle-income country, will rise to the upper-middle-income category very quickly if harmful activities like corruption, looting and money laundering are strictly controlled. But for this, the root problems like corruption, looting and money laundering need to be tackled properly.

(The author, a graduate in International Relations from Bangladesh, is an independent researcher and columnist on South Asian affairs. Views are personal. He can be contacted at sufiansiddique1971@gmail.com) 

Post a Comment

The content of this field is kept private and will not be shown publicly.
monthly meal planner calendar
Thu, 03/09/2023 - 14:59
I visited several sites however the audio quality for audio songs
current at this website is actually superb.
Perma Health Keto Reviews
Sat, 07/22/2023 - 03:08
I do not know whether it's just me or if everyone else encountering problems with your blog.
It appears as if some of the written text within your content are running off the screen. Can somebody else please provide feedback and let me know if this is happening to them too?
This might be a issue with my web browser because I've had
this happen previously. Cheers
Rejuva Tag Review
Sat, 07/22/2023 - 04:01
Loving the info on this internet site, you have done outstanding
job on the articles.
Super Health Keto Gummies Reviews
Sat, 07/22/2023 - 04:36
Wonderful beat ! I wish to apprentice while you amend your
site, how can i subscribe for a blog site? The account aided me a acceptable deal.
I had been a little bit acquainted of this your
broadcast offered bright clear idea
Power Drive CBD Gummies
Sat, 07/22/2023 - 04:49
Great post. I was checking constantly this weblog and I'm impressed!
Very useful information particularly the final section :
) I maintain such information much. I was seeking this particular information for a very lengthy time.

Thank you and good luck.
Xtreme Fit Keto Review
Sat, 07/22/2023 - 05:14
Thanks in support of sharing such a good thought, paragraph is good, thats why i have read
it entirely
Fuze Bug Mosquito Zapper Review
Sat, 07/22/2023 - 06:18
Definitely consider that which you stated. Your favorite justification seemed to be
on the web the easiest thing to bear in mind of. I say to you,
I definitely get annoyed at the same time as other people think about issues that they just don't understand about.
You managed to hit the nail upon the highest and outlined out the entire thing with
no need side effect , other people could take a signal.
Will probably be back to get more. Thanks
Nuu Dermo Cream
Sat, 07/22/2023 - 06:56
Hi my loved one! I wish to say that this article is amazing, great written and come with almost all significant infos.
I'd like to peer extra posts like this.
Bio Stamina CBD Gummies Review
Sat, 07/22/2023 - 07:22
We are a group of volunteers and opening a new scheme in our community.
Your website provided us with valuable info
to work on. You've done an impressive job and our entire community will be thankful to you.
My Keto Gummies Review
Sat, 07/22/2023 - 08:46
Hello, after reading this awesome paragraph i am as
well happy to share my knowledge here with mates.
Buy Fuze Bug
Sat, 07/22/2023 - 09:39
Thank you a lot for providing individuals with an extraordinarily memorable possiblity to read critical reviews from this website.
It is often very brilliant and full of fun for me personally and
my office fellow workers to search your blog more than 3 times weekly to study the newest tips you have.
And indeed, we are always amazed concerning the brilliant pointers you give.

Selected 4 areas in this article are really the most efficient we've had.
Libiyi Bug Zapper Reviews
Sat, 07/22/2023 - 09:45
When someone writes an paragraph he/she maintains the idea of a user in his/her mind that
how a user can be aware of it. So that's why this post is amazing.
Thanks!
Trim Tech Keto
Sat, 07/22/2023 - 10:04
As the admin of this web site is working, no question very rapidly it will be famous, due to
its feature contents.
Trim Tech Keto Gummies
Sat, 07/22/2023 - 10:07
Good day! Do you know if they make any plugins to protect against
hackers? I'm kinda paranoid about losing everything I've worked hard on. Any recommendations?
ACV For Keto Health Gummies
Sat, 07/22/2023 - 10:37
There's definately a great deal to learn about this subject.
I really like all of the points you've made.
Alpha Bio CBD Gummies Review
Sat, 07/22/2023 - 10:46
I think the admin of this web page is truly working hard in support of his web site, because here every data is quality based information.
Erectcin XL ME Gummies
Sat, 07/22/2023 - 10:54
At this time it appears like BlogEngine is the preferred blogging platform available right now.
(from what I've read) Is that what you are using on your blog?
Fuze Bug reviews
Sat, 07/22/2023 - 10:55
Hi there! I'm at work surfing around your blog from my new iphone 3gs!

Just wanted to say I love reading through your blog and look forward to all your posts!
Carry on the fantastic work!
Keto Drive
Sat, 07/22/2023 - 11:51
Regards for all your efforts that you have put in this.

Very interesting information.
Fuze Bug Mosquito
Sat, 07/22/2023 - 12:26
Great post.
Adken Keto Gummies
Sat, 07/22/2023 - 12:50
This post is genuinely a good one it assists new internet people,
who are wishing for blogging.
Celludrol NO2 Review
Sat, 07/22/2023 - 12:58
Howdy! This is my first visit to your blog! We are a team of volunteers and starting a new project in a community in the same niche.
Your blog provided us valuable information to work on. You have done a
wonderful job!
Canna Bitz CBD Gummies
Sat, 07/22/2023 - 13:32
I for all time emailed this web site post page to all my contacts, because if like to
read it after that my friends will too.
Renu Skin Serum Ingredients
Sat, 07/22/2023 - 13:46
I'm not sure exactly why but this web site is loading very slow for me.
Is anyone else having this problem or is it a issue on my end?
I'll check back later and see if the problem still exists.
Super Bio CBD
Sat, 07/22/2023 - 13:50
Wow, fantastic blog layout! How long have you been blogging for?
you make blogging look easy. The overall look
of your site is wonderful, as well as the content!
ProVigorex
Sat, 07/22/2023 - 13:52
I like this site so much, bookmarked.
Celludrol Review
Sat, 07/22/2023 - 14:04
Hello, I desire to subscribe for this website to take newest updates, so where
can i do it please help out.
Bug Bulb Zapper Review
Sat, 07/22/2023 - 14:39
If some one desires expert view concerning running
a blog after that i propose him/her to go to see this
website, Keep up the pleasant work.
XSlim Keto Reviews
Sat, 07/22/2023 - 15:00
Plus, "the energy density of a keto diet is higher, so you have to carry less weight," says D’Agostino.
D’Agostino believes a ketone supplement will be the
breakthrough, making the job of drastically cutting carbs
from the diet much easier. Achieving a ketogenic state could
get a lot easier in the coming years. Thanks to Noakes and
other Keto Diet supporters, a growing number of athletes today prefer to be in that state at
all times. It was apparently the 4th highest search term
on Google in the food category, with people searching for
the term an average of 14,800 times a month. But for evidence of
the Keto Diet’s more immediate effects, Noakes brings up South African athlete
Bruce Fordyce, 60, who won the country’s biggest ultramarathon, the 56-mile Comrades,
a record nine times. In fact, Noakes’ celebrity these days is such that he’s
even been pulled into South African presidential politics:
To echo the country’s papers of record, "Is President Jacob Zuma’s and his wife’s dramatic weight loss a result of the Noakes Diet?
ACV For Keto Health
Sat, 07/22/2023 - 15:03
Hello, i believe that i noticed you visited my web site thus
i came to ?return the choose?.I'm attempting to to find issues to improve my site!I assume
its ok to make use of a few of your concepts!!
Super Bio CBD Gummies
Sat, 07/22/2023 - 15:09
Hello everyone, it's my first pay a quick visit at this web page, and post is truly
fruitful designed for me, keep up posting these types
of posts.
Slim Labs Keto Gummies
Sat, 07/22/2023 - 15:28
Thank you a lot for providing individuals with an extremely brilliant
opportunity to check tips from here. It really is so pleasant and
packed with a great time for me and my office co-workers to visit your blog really
three times every week to read through the new items you
have. And definitely, we are always contented for the powerful principles
you serve. Certain 3 tips in this post are surely the most
effective we have ever had.
XSlim Keto Review
Sat, 07/22/2023 - 15:37
A. This two-week keto meal plan will help the liver
produce ketones, allowing the body to get energy from another source.
My long bike pre-workout meal is typically an avocado and
some bacon. This is where a keto meal plan comes in. We hope that our free keto meal plan provided you with lots of ideas on what to eat.
Be on the right track by following this easy keto meal plan. You can add this
supplement to your 1200 calorie diet plan. 3.
Add the mozzarella to the flour mixture and process again until a uniform dough forms.
At the end of the day, a unique facet of the core business forms the basis for the negative aspects of any
strategic latent high fat. Since Marjorie Panteley's first formulation of the performance of knowledge,
it has become fairly obvious that an unambiguous concept of the tentative paratheoretical fat
loss recognizes deficiencies in the overall game-plan.
NuSkin Skin Tag Remover Cost
Sat, 07/22/2023 - 16:09
Why are they called goose bumps? Goose bumps - sometimes called goose flesh or goose
pimples - are the little bumps on your skin at the base of hairs that spring up involuntarily whenever you get cold
or experience strong emotions, like fear, pleasure or surprise.

Getting goose bumps is a reflex, which is an action your body has
automatically without you even thinking about it.
It might also give you goose bumps. Although it is usually possible
to recognize a stalk that attaches the skin tag to your underlying skin, very small skin tags may appear
as raised bumps on your skin. These small blemishes come directly
from the root stalk of cells that have grown to the outside
of the skin. Skin tags can root deep inside your skin layers and may require an incision for correct removal.
If you perform the incision without a medical professional,
you will risk cutting the skin too deep or nicking a vein or blood vessel.
You could be leaving most of the remaining portions deep within the skin layers.
There would be more confidence as there is no leaving behind scars at all.
If you want a more hands-on approach to skin tag removal, this is a fantastic option.
Buzz Blast Pro Mosquito Zapper
Sat, 07/22/2023 - 16:13
Thanks for your personal marvelous posting!
I definitely enjoyed reading it, you are a great author.I will always bookmark your blog and will often come back later on. I want to encourage
continue your great writing, have a nice holiday weekend!
Celludrol Review
Sat, 07/22/2023 - 16:15
Great article.
Celludrol No2 Booster
Sat, 07/22/2023 - 16:17
Wow, incredible blog layout! How long have you been blogging
for? you make blogging look easy. The overall look of your website is magnificent, as well as
the content!
BDW Skin Tag Remover Ingredients
Sat, 07/22/2023 - 16:25
Hey There. I discovered your weblog the usage of msn. This is a
very well written article. I will be sure to bookmark it and return to learn extra of your helpful info.

Thanks for the post. I will definitely comeback.
Fuze Bug Zapper Reviews
Sat, 07/22/2023 - 16:25
Thanks for another informative website. The place else could I get that kind of information written in such
a perfect approach? I have a challenge that I'm simply now working on, and I have been at the
look out for such information.
Bliss Bitz CBD Reviews
Sat, 07/22/2023 - 16:57
Hi there! Do you use Twitter? I'd like to follow you if that would be ok.
I'm undoubtedly enjoying your blog and look forward to new posts.
Vita Tech Male Enhancement
Sat, 07/22/2023 - 17:26
I am glad to be a visitant of this double dyed website, thanks for this rare information!
BugMD Zap Trap
Sat, 07/22/2023 - 18:11
What's up, the whole thing is going fine here and ofcourse
every one is sharing information, that's genuinely fine, keep up writing.
Power Tibet Male Enhancement Pro
Sat, 07/22/2023 - 19:46
One of the most popular ways to drink Maca coffee is with butter
or coconut oil. Finally, the rarest among the three variants is the red Maca.
Without red blood cells, the body is starved for oxygen. The signs and symptoms of anemia include pale skin, low red blood cell counts, low oxygen saturation,
low energy, and constant fatigue. If you have stroke, myocardial infaction (heart attack),
cardiac failure, blood pressure related diseases, sickle cell or other related anaemias, HIV or Organ donor recipients
then also tell you doctor about it. Aase Syndrome affects the bone marrow and stem
cell production, which then prevents red blood cells from even forming.
It gets even worse when such documents add (or otherwise amend)
their terminology mappings; old documents may suddenly mean different things!
It increases your energy levels, aids menopausal women in their blood pressure, helps women balance their
mood during periods, and even increases libido.
Artrinol Review
Sat, 07/22/2023 - 19:51
Most cases of viral arthritis resolve on their own within days or weeks, depending on the duration of the underlying infection. Shea tree extract:
An extract of Vitellaria paradoxa called SheaFlex 70 could have potential for joint health according to the
results of an Australian study that indicated a range of anti-inflammatory and
chondroprotective effects for the active ingredient.The
findings of the research, published in the peer reviewed journal Phytotherapy Research,
showed that in participants with elevated levels
of osteoarthritis biomarkers, who were taking SheaFlex70, there were significant decreases in inflammation and cartilage breakdown, in addition to trend level
decreases in bone remodelling as compared to the control group over the duration of the study.
Wrist splints reduce pain and help improve grip strength for
people with rheumatoid arthritis, according to a
review published in the Journal of Rehabilitation Medicine.
Arthritis affects about 10 million people in the UK, according to the NHS.
The degree of periodic limb movement and how it
affects sleep is best assessed with a sleep study (polysomnogram).

Osteoarthritis affects the cartilage lining the joints,
making movement more difficult than usual.
Mozz Guard
Sat, 07/22/2023 - 21:18
Excellent blog right here! Also your web site so much up fast!
What host are you the usage of? Can I am getting your associate hyperlink for your host?
I desire my site loaded up as fast as yours lol
First Core Keto
Sat, 07/22/2023 - 23:11
Sorenson, who is the CEO and founder of two biotechnology companies, felt
that starting the keto diet before radiation and avoiding steroids, which are almost uniformly given to brain cancer patients, were keys to Adam’s therapy.
We recommend that you save time by avoiding any special order
crusts as you won’t be eating it anyway.
Like other berries, eating strawberries regularly has been scientifically
linked to lowering inflammation. For instance, strawberries and raspberries contain a compound
called ellagic acid. 2) Type Of Exercise: Intense exercise - sprinting, Crossfit, HIIT, etc.
- is called glycolytic because it demands glucose as fuel.
Many folks also do well with hard exercise on an SKD. Some folks still trumpet the "you need carbs to build muscle" theory.
You can still lose weight on a TKD, assuming
you eat the right carbs, at the right times, while
doing the right kinds of workouts. The ketogenic diet can also help with strength goals.
In the 1970s low carbon diet for weight loss, which
started at a rigid ketogenic period of two weeks. Low glycemic, by the way, refers
to the food’s impact on your blood sugar. The extra carbs around the workout help fill glycogen stores, prevent low blood sugar,
and stave off exercise fatigue.
ChillWell 2.0 Portable AC
Sun, 07/23/2023 - 01:51
Howdy! I realize this is sort of off-topic but I had to ask.
Does building a well-established website such as yours
require a lot of work? I'm completely new to operating a blog but I do
write in my journal every day. I'd like to start a blog so I can easily
share my personal experience and feelings online. Please let
me know if you have any kind of recommendations or tips for new aspiring blog owners.
Thankyou!
Power Blast Keto Ingredients
Sun, 07/23/2023 - 03:37
Aw, this was an extremely good post. Taking the time and actual effort to make a very good article?
but what can I say? I procrastinate a whole lot and don't manage to get anything done.
Power Tibet Male Enhancement
Sun, 07/23/2023 - 05:03
• The final key to finding the perfect treatment for impotence is to look for reviews that
detail the negatives and positives of such erectile dysfunction treatments.
While you should know of the right products that offer effective
treatment for impotence online, you should also be
able to distinguish between the ones that are actually
inferior products being passed off as genuine. That is why you should
review products ingredient information and read reviews
on a product before purchasing. Remember, there are enough paid reviews to misguide you in the
industry, and to read objective ones that
dismiss or applaud a product without detailing the reasons may
prove to be a bad indicator for consumers. In particular, he says, because mTORC1 also plays a critical role in immune
cell activation and memory, and these cells are now being genetically modified for cancer therapy, the discovery of the new control brake may
eventually enhance the effectiveness of cancer immunotherapy treatments.
Sildenafil may interact with prescription drugs known as nitrates,
including nitroglycerin, and can dangerously lower blood pressure.
"This is an important finding because it reveals a novel strategy that could be employed in future potential therapeutic efforts to protect the heart from damaging stress such as high blood pressure,"
said Bishow Adhikari, Ph.D., a program officer for the study and a scientist with
the National Heart, Lung, and Blood Institute, part of the National Institutes of Health,
which helped fund the study.
Keto Core ACV Gummies
Sun, 07/23/2023 - 05:30
Hi, Neat post. There's an issue along with your website in web explorer, might test this...
IE still is the marketplace chief and a good part of
folks will omit your fantastic writing due to this problem.