Since the restoration of parliamentary democracy in 1988, Pakistan has faced continued political instability which has impacted adversely on economic continuity and development strategy. By 1993, however, economic management became an important issue as Pakistanís economic growth began showing signs of fatigue and fiscal deficits started assuming alarming proportions.
The neglect of the social sector and Pakistanís lack of diversification in industry and exports also came home to roost. The confluence of these factors, at a time when Pakistan was being dragged into integration with the global economy under the aegis of a structural adjustment programme of the IMF and the World Bank, produced a number of crises which its weak political and economic institutions were unable to bear. The essays in this volume explore the various dimensions of the crises since the latter part of 1993, when the caretaker government was headed by Moeen Qureshi.
S. M. Naseem, Ph.D., worked as Professor of Economics at Quaid-e-Azam University in Islamabad from 1968 to 1981 and as Director, Development Planning Division, UN-ESCAP from 1983-92. He has served in various research and teaching assignments in Turkey, Sudan, Japan, Switzerland, Thailand, Lebanon, Iraq and Iran and has been a consultant to a number of international organizations, including the Asian Development Bank, UNCTAD, UNDP and the ILO.