Stagflation in Pakistan

The Periods of Stagflation (or also attribute as Stagflation in Pakistan, Pakistan Stagflation or Inflation and unemployment in Pakistan), is a generic on-going period of economic, political and social stagflation in the economic context, which had been affecting the national economic growth of Pakistan in its successive decades of its history.

The first period of stagflation began in the 1970s after the disastrous succession of East-Pakistan, followed by the conceding the defeat at the hands of arch-rival, India in December 1971. Although, the government of Zulfikar Ali Bhutto made attempt to end this period, it was subsequently ended by the military government of Zia-ul-Haq in the 1980s. The ending of Soviet engagement in Afghanistan and the offing U.S. aid renewed the second period of stagflation in the 1990s. During this time, both Benazir Bhutto and Navaz Sharif attempted to tackle the stagflation, with Navaz Sharif first implementing economic liberalization and privatization at once, in the 1990s. The second period was subsequently ended by Shaukat Aziz who implemented much tougher taxation, monetary and financial development policies in the 2000s. Widely appreciating Aziz's reforms, the third period again return after the 2008 elections and the wide spread of militancy in the Western Pakistan, which would later followed the global finance crises. Pakistan's leading economists, specialists, technicians, and financial scholars are uncertain what causes the stagflation in the country in the first place, and many attribute this period to several factors that may have cause the stagflation including the state's role in war on terror, corruption, tough monetary policies and several other factors.

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