South Asia Investor Review

The US and its allies enjoy a significant technological advantage over China and Russia.  The Chinese are working hard to catch up but the West is not standing still. It is making huge investments in research and development to maintain this edge as it becomes increasingly clear that the outcome of the ongoing international geopolitical competition will largely be determined by technology.  East-West Comparison of GDP, R&D. Source: IMF (GDP), OECD (R&D) via WSJ In 2019, the United States and its allies invested $1.5 trillion in research and development, far outpacing the combined Chinese and Russian R&D investment of half a trillion USD.  This gap will likely narrow if the East's GDP continues to grow faster than the West's, allowing for higher investment in technology.  After the Russian invasion of Ukraine, the US, EU, Japan, South Korea and Taiwan have made it clear that the Western allies can and will use technology sanctions to control the behavior ...

In 1999, President Pervez Musharraf inherited a massive debt of over 100% of GDP run up by the Pakistan Peoples Party and the Pakistan Muslim League (Nawaz) governments in 1990s. Musharraf's policies not only revived the bankrupt economy but also brought down debt to 52% of GDP by 2007.  Pakistan Debt to GDP 1995-2021. Source: IMF PPP Government's 2008 Letter to IMF: In a letter to the International Monetary Fund in 2008, the PPP government hailed Musharraf's economic record without mentioning his name in the following words: "Pakistan's economy witnessed a major economic transformation in the last decade (2000-2008). The country's real GDP increased from $60 billion to $170 billion, with per capita income rising from under $500 to over $1000 during 2000-07.....the volume of international trade increased from $20 billion to nearly $60 billion. The improved macroeconomic performance enabled Pakistan to re-enter the international capital markets in the mid-2000s....

On Pakistan's 73rd Independence Anniversary, the people of the South Asian nation have demonstrated their resilience yet again. They have defied all foreign and domestic doomsayers, including media, activists and think tanks of all varieties. Pakistan has successfully  fought off the deadly COVID19 virus  and begun to bounce back economically. Moody's rating agency has raised Pakistan's economic outlook from "under review for downgrade" to "stable". Pakistan's Planning Minister Asad Umar is talking of a " V-shaped recovery ". Large Scale Manufacturing (LSM) is recovering. Monthly cement sales have rebounded to the pre-pandemic level, fertilizers sales are setting records, fuel sales have increased, tax collection is up,  exports are rising and the Karachi stock market is booming again. Prime Minister Imran Khan and Army Chief General Qamar Javed Bajwa have been on the same page in tackling the health and economic crises faced by Pakistan. C...

Thar, one of the least developed regions of Pakistan, is seeing unprecedented development activity in energy and infrastructure projects.  New roads, airports and buildings are being built along with coal mines and power plants. There are construction workers and machinery visible everywhere in the desert. Along with renewed hopes for the region and its people, development boom is also raising concerns about the environment and its impact on the residents. Thar Coal Development. Photo Credit: Amar Guriro  Thar Development Projects: The Tharparker District or simply the Thar Desert is located in the southeastern province of Sindh. It is  receiving a lot of attention because the desert sands hide an estimated 175 billion tons of coal underneath. In December 2015, China agreed to invest $1.2 billion to develop Thar coal and establish a 660 MW  coal-fired power plant . The coal deposits are divided into 12 blocks, each containing approximately 2 billion ton...

“Na Khuda hi mila, na visaal-e-sanam/Na udhar kay rahay, na idhar kay rahe (I found neither faith, nor union with my lover/And now I belong neither there nor here).” Pakistan's quest for democracy under civilian rule has produced neither democracy nor development in the Islamic country of over 180 million people. Currently, Pakistan is experiencing 6th consecutive year of  stagnant economy and human development under an elected but highly corrupt "democratic" government run by the Sharif family and their cronies for their own benefit. Is it a Democracy? Can one call it a rule-of-law or democracy when the Sharifs illegally order the Lahore police to attack the home of Allama Tahir ul Qadri, kill over a dozen unarmed civilians including women, and then refuse to file a report  (FIR) of the incident at the local police station?  Can you call it constitutional rule when the ruling politicians openly defy the Supreme Court orders to hold local government elections un...