Shehbaz Sharif is 'ashamed' as Bangladesh edges Pakistan in economic growth
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April 26, 2024
During an interactive session with Pakistani business leaders, Prime Minister Shehbaz Sharif reflected on the country’s economic challenges and its comparison to Bangladesh. He noted that in the past, East Pakistan, now Bangladesh, was viewed as a burden on Pakistan’s economy. However, he highlighted the significant strides Pakistan has made in economic growth since then.
Sharif expressed a sense of shame that Bangladesh, within nearly 50 years of independence, surpassed Pakistan in terms of GDP per capita. Bangladesh overtook Pakistan in 2016 with a GDP per capita of $1,659 compared to Pakistan’s $1,468. By 2023, Bangladesh’s GDP per capita had risen to $2,528, while Pakistan’s stood at $1,471.
Recalling his youth, Sharif mentioned being told that East Pakistan was a burden, but he emphasized how the country has progressed economically since then. However, he acknowledged feeling ashamed when comparing Pakistan’s economic situation to Bangladesh’s success.
It’s worth noting that East Pakistan faced economic challenges due to resource disparities with West Pakistan, which received a larger share of resources. This disparity contributed to neglect and underdevelopment in East Pakistan.
While Sharif aimed to strategize for economic growth during the meeting, business leaders also voiced concerns about political instability following the arrest of former Prime Minister Imran Khan. They suggested initiating trade talks with India to benefit Pakistan’s economy. However, India has maintained that trade talks are not possible as long as Pakistan supports cross-border terrorism.
Arif Habib, Chief of Arif Habib Group, advised Sharif to pursue further diplomatic engagements, including trade talks with India and reconciliation efforts with Imran Khan. He emphasized that such initiatives could significantly benefit Pakistan’s economy.
