Pakistan’s microfinance sector achieved a significant milestone with consistent growth over a period of one decade. However, it missed all major targets
Pakistan’s development decade of the 1960s marked by a democratic deficit ended in a deep political crisis. AFP/File
Surging inequality and erosion of democratic values in the corridors of power are proving politically divisive and are impairing social cohesion worldwide. Much of the discontent at the grassroots is spilling on the streets. And populists have been reactivated.
The disproportionate concentration of wealth in few hands tends to create recession or depression, unemployment and poverty. The high economic growth, which is not inclusive, does not create enough needed political capital and ultimately leads to political turmoil.
Pakistan’s development decade of the 1960s marked by a democratic deficit ended in a deep political crisis. Politics moved to the centre stage and economics took a back seat as an unacceptable level of disparity in regional and household incomes created mass dissatisfaction and led to the 1971 tragedy. Economic growth without distributive and